{"id":131535,"date":"2018-08-07T06:42:04","date_gmt":"2018-08-07T10:42:04","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131535"},"modified":"2018-08-07T06:42:04","modified_gmt":"2018-08-07T10:42:04","slug":"positive-earnings-lift-us-stock-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/positive-earnings-lift-us-stock-market\/","title":{"rendered":"Positive earnings lift US stock market"},"content":{"rendered":"
August 7, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq logs fifth straight gain<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>added to previous session gains on Monday led by technology and financial shares. The\u00a0S&P 500\u00a0<\/em>gained 0.4% to 2850.40.\u00a0Dow Jones\u00a0<\/a>industrial added 0.2% to 25502.18. The\u00a0Nasdaq\u00a0<\/em>composite index rose 0.6% to 7859.68. The dollar strengthened still more:\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 0.2% to 95.349 but is lower currently. Stock index futures indicate higher openings today.<\/p>\n

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Positive earnings reports buoyed market sentiment. Of the 413 S&P 500 companies that have reported second-quarter results so far, 79.2% have exceeded earnings estimates, according to Thomson Reuters data. That compares with the 72% average for the past four quarters. However trading was somewhat thinner than usual: trading volume on US exchanges was 5.95 billion shares, compared to the 6.29 billion average for the last 20 trading days.<\/p>\n<\/div>\n<\/div>\n

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Fall in German factory orders weighs on euro<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>pulled back on Monday as US and China continued the exchange of new tariff threats. The\u00a0British Pound<\/em>and\u00a0euro\u00a0<\/em>continued the decline against dollar but both pairs are moving higher currently. The Stoxx Europe 600 index slipped 0.1%. The\u00a0DAX 30\u00a0<\/em>lost 0.1% to 12598.21 and France\u2019s\u00a0CAC 40\u00a0<\/em>fell less than 0.1%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>however inched up 0.1% to 7663.78. Indices opened 0.3% – 0.5% higher today.<\/p>\n

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Pound ended lower after UK international trade secretary Liam Fox comment over the weekend that there is a 60% chance that Britain will leave the European Union without a deal with the bloc. Weak German manufacturing data weighed on euro: German manufacturing orders plunged in June by 4%.<\/p>\n<\/div>\n<\/div>\n

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Chinese stocks lead Asian indices gains<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher today.\u00a0Nikkei\u00a0<\/em>gained 0.2% to 22562.10 lifted by surprise earnings beat by SoftBank despite yen turn higher against the dollar. Chinese stocks are rebounding: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 2.5% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 1.6% higher. Australia\u2019s All Ordinaries Index is down 0.3% as the Australian dollar resumed advancing against the greenback.<\/p>\n

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

Brent futures prices\u00a0<\/b>are extending gains today as the United States reimposed sanctions against major crude exporter Iran. Prices ended higher Monday over Saudi Arabia output decline and expectations of sanctions on Iran which may block more than 1 million barrels a day of Iran\u2019s roughly 2.5 million barrels a day of crude exports. October Brent crude settled 0.7% higher at $73.75 a barrel on Monday.<\/p>\n

\"BRENT\"<\/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 Nasdaq logs fifth straight gain US stock market\u00a0added to previous session gains on Monday led by technology and financial shares. The\u00a0S&P 500\u00a0gained 0.4% to 2850.40.\u00a0Dow Jones\u00a0industrial added 0.2% to 25502.18. The\u00a0Nasdaq\u00a0composite index rose 0.6% to 7859.68. The dollar strengthened still more:\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the […]<\/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-131535","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131535","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=131535"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131535\/revisions"}],"predecessor-version":[{"id":131539,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131535\/revisions\/131539"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=131535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=131535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=131535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}