{"id":131274,"date":"2018-08-03T06:25:29","date_gmt":"2018-08-03T10:25:29","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131274"},"modified":"2018-08-03T06:25:29","modified_gmt":"2018-08-03T10:25:29","slug":"us-market-rebounds-led-by-technology","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/us-market-rebounds-led-by-technology\/","title":{"rendered":"US market rebounds led by technology"},"content":{"rendered":"
August 3, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Another strong US jobs report is expected today<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>ended higher Thursday led by technology shares as Apple\u2019s market capitalization exceeded $1 trillion. TheS&P 500\u00a0<\/em>gained 0.5% to 2827.22.\u00a0Dow Jones\u00a0<\/em>industrial average however slipped 0.03% to 25326.16. The\u00a0Nasdaq<\/a>composite rallied 1.2% to 7802.69. The dollar strengthening accelerated: 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, rose 0.5% to 95.136 and is higher currently. Stock index futures indicate mixed openings today.<\/p>\n

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Apple\u2019s 3% rally boosted market sentiment despite escalating US-China trade tensions after President Donald Trump proposed a higher 25% tariff on $200 billion worth of Chinese imports. July nonfarm payrolls will be in focus today, the Bureau of Labor Statistics reports the change in nonfarm payrolls at 14:30 CET.<\/p>\n

\"Nd100\"<\/p>\n<\/div>\n<\/div>\n

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European indices open higher<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>extended losses on Thursday led by automaker shares. The\u00a0British Pound\u00a0<\/em>joined\u00a0euro\u2019s\u00a0<\/em>sharp decline against the dollar with Pound lower currently while euro is edging higher. The Stoxx Europe 600 index lost 0.8%. Germany\u2019sDAX 30\u00a0<\/a>tumbled 1.5% to 12546.33. France\u2019s\u00a0CAC 40\u00a0<\/em>lost 0.7% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>fell 1% to 7575.93. Indices opened 0.1% – 0.3% higher today.<\/p>\n

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Pound fell despite the unanimous vote of nine members of the Bank of England policy-setting committee in favor of a quarter of a percentage point rate increase. Interest rates were raised from 0.50% to 0.75% as widely expected, It was BOE\u2019s second hike in roughly a decade. However the central bank warned that \u201dthe economic outlook could be influenced significantly by the response of households, businesses and financial markets to developments related to the process of EU withdrawal,\u201d commonly known as Brexit.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mostly lower today with trade tensions still high after continued exchange of threats by the US and China.\u00a0Nikkei\u00a0<\/em>ended 0.1% higher at 2525.18 as yen turned lower against the dollar. Chinese stocks are falling as Caixin reported the services PMI slipped implying growth in China’s service sector slowed in July: the\u00a0Shanghai Composite Index\u00a0<\/em>is 1% lower and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is down 0.3%. Australia\u2019s All Ordinaries Index is down 0.1% while Australian dollar\u2019s slide against the greenback continues.<\/p>\n

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Brent\u00a0<\/a>dips on rising global supplies<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are edging lower today on the prospect of rising global supplies. Prices ended higher yesterday after energy market data provider Genscape reported data showing a dip in stockpiles at the domestic delivery hub at Cushing, Oklahoma. Brent for October settlement closed 1.5% higher at $73.45 a barrel on Thursday.<\/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 Another strong US jobs report is expected today US stock market\u00a0ended higher Thursday led by technology shares as Apple\u2019s market capitalization exceeded $1 trillion. TheS&P 500\u00a0gained 0.5% to 2827.22.\u00a0Dow Jones\u00a0industrial average however slipped 0.03% to 25326.16. The\u00a0Nasdaqcomposite rallied 1.2% to 7802.69. The dollar strengthening accelerated: the\u00a0live dollar index\u00a0data show the ICE US Dollar […]<\/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-131274","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131274","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=131274"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131274\/revisions"}],"predecessor-version":[{"id":131282,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131274\/revisions\/131282"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=131274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=131274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=131274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}