{"id":129452,"date":"2018-07-03T06:10:02","date_gmt":"2018-07-03T10:10:02","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129452"},"modified":"2018-07-03T06:10:02","modified_gmt":"2018-07-03T10:10:02","slug":"technology-leads-us-market-advance","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/technology-leads-us-market-advance\/","title":{"rendered":"Technology leads US market advance"},"content":{"rendered":"
July 3, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar rebounds on strong manufacturing<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>added to previous session gains on Monday led by technology rally. The\u00a0S&P 500\u00a0<\/em>gained 0.3% to 2726.71, closing above the 50-day moving average.\u00a0Dow Jones\u00a0<\/a>industrial added 0.2% to 24307.18. The\u00a0Nasdaq\u00a0<\/em>composite index rose 0.8% to 7567.69. The dollar rebounded on positive manufacturing data:\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, rose 0.3% to 94.847 but is lower currently. Stock index futures point to higher openings today.<\/p>\n

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Treasury yields rose as better than expected manufacturing data signaled enduring strength of US economy. The Institute for Supply Management\u2019s manufacturing index rose to 60.2% in June from 58.7% in May. And Markit\u2019s June manufacturing index\u2019s preliminary reading was updated to 55.4 from 54.6. However construction spending rose 0.4% in May after 0.9% rise in April.<\/p>\n<\/div>\n<\/div>\n

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

European stock indices\u00a0<\/b>erased previous session gains on Monday as trade war concerns weighed on market sentiment. Both the\u00a0British Pound\u00a0<\/em>and\u00a0euro\u00a0<\/em>turned lower against the dollar but are moving higher currently. The Stoxx Europe 600 index lost 0.8%. The\u00a0DAX 30\u00a0<\/em>lost 0.6% to 12238.17 and France\u2019s\u00a0CAC 40\u00a0<\/em>fell 0.9%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>tumbled 1.2% to 7547.85. Indices opened 0.3% – 0.7% higher today.<\/p>\n

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Market sentiment was weighed by trade war concerns after President Trump Sunday comment he sees his threat to impose global auto tariffs as his biggest weapon to extract concessions from trading partners. Investors are concerned President Trump may act on his threat to impose 20% tariffs on auto imports. The European Union has responded by $300 billion in retaliatory tariffs against US products if Trump follows through on his threat.<\/p>\n

\"FTSE100\"<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>lost 0.1% to 21785.54 as yen climb against the dollar continued. Chinese stocks are mixed after Trump Monday comment that \u201cwe\u2019ll be doing something\u201d about the World Trade Organization if the United States is not treated properly: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 0.4% but Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 1.5% lower. Australia\u2019s All Ordinaries Index is up 0.5% despite the Australian dollar turn higher against the greenback as Australia’s central bank kept interest rates unchanged.<\/p>\n

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

Brent futures prices\u00a0<\/b>are higher today after Libya declared force majeure on some of its supplies. Prices ended lower Monday on reports Saudi Arabia pumped at a near record rate in May. September Brent crude settled 2.4% lower at $77.30 a barrel on Monday.<\/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 rebounds on strong manufacturing US stock indices\u00a0added to previous session gains on Monday led by technology rally. The\u00a0S&P 500\u00a0gained 0.3% to 2726.71, closing above the 50-day moving average.\u00a0Dow Jones\u00a0industrial added 0.2% to 24307.18. The\u00a0Nasdaq\u00a0composite index rose 0.8% to 7567.69. The dollar rebounded on positive manufacturing data:\u00a0live dollar index\u00a0data show the ICE US […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-129452","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129452","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=129452"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129452\/revisions"}],"predecessor-version":[{"id":129458,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129452\/revisions\/129458"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=129452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=129452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=129452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}