{"id":131574,"date":"2018-08-08T06:53:14","date_gmt":"2018-08-08T10:53:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131574"},"modified":"2018-08-08T06:53:14","modified_gmt":"2018-08-08T10:53:14","slug":"us-stocks-rise-on-further-positive-earnings-reports","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/us-stocks-rise-on-further-positive-earnings-reports\/","title":{"rendered":"US stocks rise on further positive earnings reports"},"content":{"rendered":"
August 8, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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S&P 500 logs 4th straight gain<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>continued advancing on Tuesday. The\u00a0S&P 500\u00a0<\/em>gained 0.3% to 2868.45 led by energy and industrial shares.\u00a0Dow Jones\u00a0<\/em>industrial average rose 0.5% to 25628.91. The\u00a0Nasdaq\u00a0<\/a>composite index added 0.3% to 7883.66. The dollar strengthening halted: 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 0.2% to 95.163 and is lower currently. Stock index futures point to higher openings today.<\/p>\n

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More positive earnings reports buoyed investors\u2019 risk appetite. The S&P 500 companies that have reported second quarter results so far have indicated earnings growth of 24% and sales gains of 9.8%, according to FactSet. In economic news the Labor Department reported there were 6.66 million job openings at the end of June, up fractionally from May\u2019s levels and the third highest in history.<\/p>\n<\/div>\n<\/div>\n

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

European stocks\u00a0<\/b>recovered Tuesday helped by positive corporate earnings reports. The\u00a0British Pound\u00a0<\/em>continued the slide against the dollar while the\u00a0euro\u00a0<\/em>turned higher and both are up currently. The Stoxx Europe 600 gained 0.5%. The GermanDAX 30\u00a0<\/a>added 0.4% to 12648.09. France\u2019s\u00a0CAC 40<\/em>\u00a0climbed 0.8% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>rose 0.7% to 7718.48. Indices opened mixed today.<\/p>\n

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Gains in US and Asian markets boosted investors\u2019 confidence despite further weak data after German statistics agency Destatis Monday report factory orders dropped in June. German industrial production also contracted more than expected in June \u2013 0.9% over month when 0.5% decline was expected.<\/p>\n

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

Asian stock indices<\/b>\u00a0are mostly lower today as US confirmation it would begin collecting 25% tariffs on an additional $16 billion worth of Chinese goods from August 23 overshadowed positive Chinese data.\u00a0Nikkei\u00a0<\/em>slipped 0.1% to 22775.47 as the yen continued the climb against the dollar. Chinese stocks are falling despite report China’s July exports rise more than expected: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 1.25% while Hong Kong\u2019s\u00a0Hang Seng ndex\u00a0<\/em>is 0.1% higher. Australia\u2019s All Ordinaries Index is up 0.2% despite Australian dollar\u2019s continuing advance against the greenback.<\/p>\n

\"HK50\"<\/p>\n

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Brent\u00a0<\/a>steady on expected US crude stocks draw<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are steady today on expectations of falling US crude stocks ahead of sanctions on Iran. The American Petroleum Institute reported late Tuesday that US crude inventories fell 6 million barrels to 407.2 million last week. Prices ended higher yesterday: October Brent rose 0.7% to $73.75 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n<\/div>\n<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

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 S&P 500 logs 4th straight gain US stock market\u00a0continued advancing on Tuesday. The\u00a0S&P 500\u00a0gained 0.3% to 2868.45 led by energy and industrial shares.\u00a0Dow Jones\u00a0industrial average rose 0.5% to 25628.91. The\u00a0Nasdaq\u00a0composite index added 0.3% to 7883.66. The dollar strengthening halted: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s […]<\/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-131574","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131574","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=131574"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131574\/revisions"}],"predecessor-version":[{"id":131582,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131574\/revisions\/131582"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=131574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=131574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=131574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}