{"id":128102,"date":"2018-06-08T06:15:46","date_gmt":"2018-06-08T10:15:46","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128102"},"modified":"2018-06-08T05:53:45","modified_gmt":"2018-06-08T09:53:45","slug":"sp-500-slips-as-technology-sells-off","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/sp-500-slips-as-technology-sells-off\/","title":{"rendered":"SP 500 slips as technology sells off"},"content":{"rendered":"
June 8, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq snaps four-day winning streak<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>pulled back on Thursday as technology stocks reversed previous day gains.\u00a0Dow Jones\u00a0<\/em>industrial average however rose 0.4% to 25241.41. The\u00a0S&P 500\u00a0<\/em>slid 0.1% to 2770.37. The\u00a0Nasdaq\u00a0<\/a>composite fell 0.7% to 7635. The dollar weakening slowed: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.2% to 93.407 but is rebounding currently. Stock index futures indicate lower openings today.<\/p>\n

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Stocks reversed earlier gains after technology shares sold off. Traders are cautious ahead of Federal Reserve meeting next week when the central bank is expected to hike rates while stock valuations are at historic highs. Treasury yields declined as traders sold off technology shares. Economic news was positive: initial jobless claims fell slightly, remaining near a 50-year low.<\/p>\n<\/div>\n<\/div>\n

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Bank shares limit European indices losses<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>extended losses on Thursday as bank shares capped losses on policy makers comments European Central Bank will discuss ending the stimulus program. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>continued rebound against the dollar with Pound up currently while euro is lower. The Stoxx Europe 600 index lost 0.2%. Germany\u2019s\u00a0DAX 30<\/a>slipped 0.14% to 12811.05. France\u2019s\u00a0CAC 40\u00a0<\/em>fell 0.2% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>slid 0.1% to 7704.40. Indices opened 0.3% – 1.2% lower today.<\/p>\n

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Bank stocks ended 0.3% higher after ECB Chief Economist Peter Praet mentioned on Wednesday the central bank may use next week\u2019s policy meeting to discuss the end of its bond-buying program. Disappointing economic news didn\u2019t help market sentiment either: German manufacturing orders dropped 2.5% unexpectedly in April following 0.9% decline in March.<\/p>\n

\"DE30\"<\/p>\n<\/div>\n<\/div>\n

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Chinese stocks lead Asian indices retreat<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly lower today.\u00a0Nikkei\u00a0<\/em>slid 0.6% to 22694.50 as yen continued climbing against the dollar. Chinese stocks are lower despite report China\u2019s exports rose 12.6% in May: the\u00a0Shanghai Composite Index\u00a0<\/em>is 1.4% lower and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is down 2%. Australia\u2019s All Ordinaries Index is down 0.2% despite Australian dollar continued slide against the greenback.<\/p>\n

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Brent\u00a0<\/a>slips<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>retreating today after a rebound Thursday on Iran, Venezuela output concerns. They ended higher yesterday as traders expect the Iran crude exports will drop as US sanctions come into effect, and oil shipments from Venezuela are nearly a month behind the schedule. Brent for August settlement closed 2.6% higher at $77.32 a barrel on Thursday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Nasdaq snaps four-day winning streak US stock market\u00a0pulled back on Thursday as technology stocks reversed previous day gains.\u00a0Dow Jones\u00a0industrial average however rose 0.4% to 25241.41. The\u00a0S&P 500\u00a0slid 0.1% to 2770.37. The\u00a0Nasdaq\u00a0composite fell 0.7% to 7635. The dollar weakening slowed: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-128102","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=128102"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128102\/revisions"}],"predecessor-version":[{"id":128108,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128102\/revisions\/128108"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=128102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=128102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=128102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}