{"id":129209,"date":"2018-06-28T06:01:22","date_gmt":"2018-06-28T10:01:22","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129209"},"modified":"2018-06-28T06:01:22","modified_gmt":"2018-06-28T10:01:22","slug":"technology-selloff-drags-us-indices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/technology-selloff-drags-us-indices\/","title":{"rendered":"Technology selloff drags US indices"},"content":{"rendered":"
June 28, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar gains as trade deficit narrows<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>erased previous day gains on Wednesday led by technology shares as orders for durable goods fell 0.6% in May following a revised 1% decline in April. The\u00a0S&P 500<\/a>\u00a0fell 0.9% to 2699.63. The\u00a0Dow Jones\u00a0<\/em>industrial lost 0.7% to 24117.59.\u00a0Nasdaq\u00a0<\/em>composite index dropped 1.5% to 7445.08. The dollar strengthening accelerated as the trade deficit in goods narrowed 3.7% to below expected $64.8 billion in May: 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, gained 0.6% to 95.261 and is higher currently. Stock index futures indicate higher openings today.<\/p>\n

\"SP500\"<\/p>\n

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FTSE 100 leads European indices rebound<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>recovered on Wednesday aided by news President Trump will rely on existing laws rather than new stricter legislation to curb Chinese investments. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>accelerated slide against the dollar and both are falling currently. The Stoxx Europe 600 rose 0.7%. Germany\u2019s\u00a0DAX 30\u00a0<\/em>added 0.9% to 12348.61. France\u2019s\u00a0CAC 40<\/a>gained 0.9% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>jumped 1.1% to 7621.69. Indices opened 0.3% – 0.5% lower today.<\/p>\n

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Chinese stocks selloff persists<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today while Chinese stocks selloff continues despite President Trump\u2019s decision to use strengthened national security review process to restrict Chinese investment in US technology firms instead of passing new tougher laws.\u00a0Nikkei\u00a0<\/em>ended 1.38 points lower at 22270.39 as yen climb against the dollar continued. China\u2019s stocks are falling: the\u00a0Shanghai Composite Index\u00a0<\/em>is 1% lower and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is down 0.3%. However Australia\u2019s All Ordinaries Index is up 0.3% with Australian dollar little changed against the greenback.<\/p>\n

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Brent\u00a0<\/a>higher on big US crude stocks draw<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are extending gains today after the US Energy Information Administration reported yesterday that domestic crude supplies fell by above expected 9.9 million barrels. Prices ended higher yesterday: August Brent crude rose 1.7% to $77.62 a barrel on Wednesday.<\/p>\n

Market 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 Dollar gains as trade deficit narrows US stock indices\u00a0erased previous day gains on Wednesday led by technology shares as orders for durable goods fell 0.6% in May following a revised 1% decline in April. The\u00a0S&P 500\u00a0fell 0.9% to 2699.63. The\u00a0Dow Jones\u00a0industrial lost 0.7% to 24117.59.\u00a0Nasdaq\u00a0composite index dropped 1.5% to 7445.08. The dollar strengthening […]<\/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-129209","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129209","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=129209"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129209\/revisions"}],"predecessor-version":[{"id":129211,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129209\/revisions\/129211"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=129209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=129209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=129209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}