{"id":129512,"date":"2018-07-04T06:37:48","date_gmt":"2018-07-04T10:37:48","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129512"},"modified":"2018-07-04T06:37:48","modified_gmt":"2018-07-04T10:37:48","slug":"us-stocks-slide-as-technology-sells-off","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/us-stocks-slide-as-technology-sells-off\/","title":{"rendered":"US stocks slide as technology sells off"},"content":{"rendered":"
July 4, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakens despite positive data<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>erased previous session gains Tuesday as technology and financial shares losses outweighed advances in energy and telecoms. The\u00a0S&P 500\u00a0<\/em>ended 0.5% lower at 2713.22.\u00a0Dow Jones\u00a0<\/em>industrial average lost 0.5% to 24174.82. The\u00a0Nasdaq\u00a0<\/a>composite index fell 0.9% to 7502.67. The dollar weakening resumed: 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 0.3% to 94.57 and is lower currently. US markets are closed today for Independence Day holiday.<\/p>\n

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Trade war concerns were highlighted by late Monday news Trump administration cited \u201cnational security interests\u201d as the reason for refusing China Mobile access to the US market. Positive economic data were shrugged off by market in thin trading ahead of holiday: US factory orders climbed 0.4% in May, in line with expectations, after upwardly revised 0.4% decline in April.<\/p>\n<\/div>\n<\/div>\n

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DAX leads major European indices recovery<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>recovered Tuesday as the risk of German coalition government unraveling subsided with a migration deal between German Chancellor Merkel and her Interior Minister Horst Seehofer. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u2019s\u00a0<\/em>turned higher against the dollar and are higher currently. The Stoxx Europe 600 gained 0.8%. The German\u00a0DAX 30<\/a>rose 0.9% to 12349.14. France\u2019s\u00a0CAC 40<\/em>\u00a0gained 0.3% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>added 0.1% to 7554.37. Indices opened 0.2% – 0.4% lower today.<\/p>\n

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Merkel\u2019s agreement with Seehofer averted a possible collapse of the coalition between her Christian Democrats (CDU) party, Seehofer\u2019s Christian Social Union (CSU) and the Social Democrats (SPD). In economic news sales in the euro-zone in May were stagnant, while the UK purchasing managers\u2019 index for construction in June rose more than expected to 53.1, a seven-month high.<\/p>\n

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

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Chinese shares lead Asian indices losses<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are falling.\u00a0Nikkei\u00a0<\/em>lost 0.3% to 21717.04 as the yen continued to rise against the dollar. Chinese stocks are falling despite report China’s services activity expanded at the quickest rate in four months in June: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 1% and Hong Kong\u2019s\u00a0Hang Seng ndex\u00a0<\/em>is 1.3% lower. Australia\u2019s All Ordinaries Index is down 0.4% despite a rise in retail sales and trade surplus in May with Australian dollar continuing the climb against the greenback.<\/p>\n

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

Brent futures prices\u00a0<\/b>are higher today on expectations of tighter US crude stocks. The American Petroleum Institute reported late Tuesday that US crude inventories fell by 4.5 million barrels. Prices ended higher yesterday: September Brent rose 0.6% to $77.76 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/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 weakens despite positive data US stock indices\u00a0erased previous session gains Tuesday as technology and financial shares losses outweighed advances in energy and telecoms. The\u00a0S&P 500\u00a0ended 0.5% lower at 2713.22.\u00a0Dow Jones\u00a0industrial average lost 0.5% to 24174.82. The\u00a0Nasdaq\u00a0composite index fell 0.9% to 7502.67. The dollar weakening resumed: the\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-129512","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129512","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=129512"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129512\/revisions"}],"predecessor-version":[{"id":129523,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129512\/revisions\/129523"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=129512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=129512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=129512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}