{"id":132694,"date":"2018-08-28T06:48:02","date_gmt":"2018-08-28T10:48:02","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132694"},"modified":"2018-08-28T06:48:02","modified_gmt":"2018-08-28T10:48:02","slug":"us-mexico-trade-deal-news-buoys-global-equities","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/us-mexico-trade-deal-news-buoys-global-equities\/","title":{"rendered":"US-Mexico trade deal news buoys global equities"},"content":{"rendered":"
August 28, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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S&P 500, Nasdaq end at records<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>rally continued on Monday on US-Mexico trade deal news. The\u00a0S&P 500\u00a0<\/em>gained 0.8% to 2896.74.\u00a0Dow Jones\u00a0<\/a>industrial rallied 1% to 26049.64. The\u00a0Nasdaq\u00a0<\/em>composite index rose 0.9% to 8017.90. The dollar weakening slowed:\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 0.4% to 94.727 and is lower currently. Stock index futures indicate higher openings today.<\/p>\n

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Relief the US is willing to compromise on harsh bilateral trade demands after it imposed steep unilateral tariffs on imports from its trade partners boosted investor optimism. President Trump said the preliminary trade agreement would help to replace the North American Free Trade Agreement, adding that talks with Canada to join a reworked trade deal would begin soon. Weak economic data were shrugged off: the Chicago Fed\u2019s index of national economic activity declined from 0.48 in June to 0.13 last month, indicating slowing of factory activities.<\/p>\n<\/div>\n<\/div>\n

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FTSE 100 opens higher than main European indices<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>extended gains on Monday on US-Mexico trade talks optimism. The\u00a0GBP\/USD\u00a0<\/em>and\u00a0EUR\/USD\u00a0<\/a>continued their climb but both pairs are moving lower currently. The Stoxx Europe 600 index rose 0.5%. The\u00a0DAX 30\u00a0<\/em>rallied 1.2% to 12538.31 and France\u2019s\u00a0CAC 40\u00a0<\/em>gained 0.9%. The UK market was closed for a holiday. Markets opened 0.2% – 0.7% higher today.<\/p>\n

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Unlike the US, German economic data added to tailwind for euro-zone indices: the Ifo business climate index jumped to 103.8 in August from 101.7 in July when a reading of 101.9 was forecast. It was the first increase since November which lifted the index to its highest level since February.<\/p>\n<\/div>\n<\/div>\n

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Asian indices mixed as US imposes duties on wheel imports from China<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today on lingering US-China trade war concerns after President Trump\u2019s comment it in not the right time for US-China trade talks.\u00a0Nikkei\u00a0<\/em>gained 0.1% to 22,813.47 helped by resumed yen slide against the dollar. Chinese stocks are lower as the US Commerce Department said it would impose duties on steel wheels from China based on a preliminary determination they were subsidized at rates above 50%: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.4% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.5% higher. Australia\u2019s All Ordinaries Index extended gains 0.6% as the Australian dollar climb against the greenback reversed.<\/p>\n

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

Brent futures prices\u00a0<\/b>are edging lower today. Prices extended gains yesterday on OPEC reports oil producers cut July output by more than agreed. October Brent crude settled 0.5% higher at $76.21 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 S&P 500, Nasdaq end at records US stock market\u00a0rally continued on Monday on US-Mexico trade deal news. The\u00a0S&P 500\u00a0gained 0.8% to 2896.74.\u00a0Dow Jones\u00a0industrial rallied 1% to 26049.64. The\u00a0Nasdaq\u00a0composite index rose 0.9% to 8017.90. The dollar weakening slowed:\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a […]<\/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-132694","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132694","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=132694"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132694\/revisions"}],"predecessor-version":[{"id":132700,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132694\/revisions\/132700"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=132694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=132694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=132694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}