{"id":128520,"date":"2018-06-15T06:01:47","date_gmt":"2018-06-15T10:01:47","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128520"},"modified":"2018-06-15T05:25:49","modified_gmt":"2018-06-15T09:25:49","slug":"technology-leads-sp-500-recovery","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/technology-leads-sp-500-recovery\/","title":{"rendered":"Technology leads SP 500 recovery"},"content":{"rendered":"
June 15, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq hits fresh record<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>recovered on Thursday led by technology stocks. The\u00a0S&P 500\u00a0<\/em>rose 0.3% to 2782.49.\u00a0Dow Jones<\/em>industrial average however slipped 0.1% to 25175.31. The\u00a0Nasdaq\u00a0<\/a>composite gained 0.9% to 7761.04, fresh record high. The dollar strengthened sharply: 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, jumped 1.4% to 94.85 and is rising currently. Stock index futures indicate lower openings today.<\/p>\n

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Upbeat economic data supported the market sentiment after market pullback following hawkish Federal Reserve statement the previous day. Stocks reversed earlier gains after technology shares sold off. Retail sales jumped by 0.8% in May, twice as high as expected. Initial jobless claims dropped by 4,000 to 218,000 last week. Also, the import price index in May rose by 0.6% for the second straight month, further evidence of building inflation. Separately, business inventories in the US rose 0.3% in May to rebound from a decline in the prior month.<\/p>\n<\/div>\n<\/div>\n

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European indices rally on dovish ECB decision<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>rallied on Thursday as the euro slumped following the European Central Bank\u2019s plan to keep interest rates low for at least another year. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>turned sharply lower against the dollar and are down currently. The Stoxx Europe 600 index jumped 1.2%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>rallied 1.7% to 13107.10. France\u2019s\u00a0CAC 40<\/em>rose 1.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>gained 0.8% to 7765.79. Indices opened mixed today.<\/p>\n

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The European Central Bank said it would continue buying 30 billion euros a month of bonds through September, as planned, reducing the purchase amount in October to 15 billion euros a month and running purchases through the end of December. The purchases will end in December. The ECB said rates will remain at their present lows \u201cat least through the summer of 2019.\u201d<\/p>\n<\/div>\n<\/div>\n

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Asian markets mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today as traders contemplate rising trade war tensions after President Trump enacted $50 billion tariffs on Chinese goods.\u00a0Nikkei\u00a0<\/em>ended 0.5% higher at 22851.75 despite yen reversal higher against the dollar. Chinese stocks are lower despite continued increase in China\u2019s new home prices in May: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.7% lower and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is down 0.4%. Australia\u2019s All Ordinaries Index is up 1.3% as Australian dollar extended losses against the greenback following sharp decline previous day.<\/p>\n

\"AU200\"<\/p>\n

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

Brent futures prices\u00a0<\/b>are extending losses today as Saudi Arabia and Russia indicated ahead of a key OPEC meeting in Vienna next week that output could rise. They ended lower yesterday: Brent for August settlement closed 1% lower at $75.94 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 hits fresh record US stock market\u00a0recovered on Thursday led by technology stocks. The\u00a0S&P 500\u00a0rose 0.3% to 2782.49.\u00a0Dow Jonesindustrial average however slipped 0.1% to 25175.31. The\u00a0Nasdaq\u00a0composite gained 0.9% to 7761.04, fresh record high. The dollar strengthened sharply: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against […]<\/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-128520","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128520","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=128520"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128520\/revisions"}],"predecessor-version":[{"id":128522,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128520\/revisions\/128522"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=128520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=128520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=128520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}