{"id":132836,"date":"2018-08-30T06:46:33","date_gmt":"2018-08-30T10:46:33","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132836"},"modified":"2018-08-30T06:46:33","modified_gmt":"2018-08-30T10:46:33","slug":"sp-500-nasdaq-log-4th-straight-record-close","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/sp-500-nasdaq-log-4th-straight-record-close\/","title":{"rendered":"SP 500, Nasdaq log 4th straight record close"},"content":{"rendered":"
August 30, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar slips despite GDP upgrade<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>ended solidly higher on Wednesday on hopes Canada will join the US-Mexico trade deal. The\u00a0S&P 500<\/a>climbed 0.6% to 2914.04. The\u00a0Dow Jones\u00a0<\/em>industrial average rose 0.2% to 26124.57.\u00a0Nasdaq\u00a0<\/em>composite index jumped 1% to 8109.69. The dollar weakening continued despite GDP upgrade: 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, lost 0.2% to 94.503 but is rising currently. Stock index futures indicate lower openings today.<\/p>\n

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Upbeat market sentiment endured on hopes the recently agreed US-Mexico deal will bring Canada, the third member of the North American Free Trade Agreement, on board by the Friday deadline. Economic data were mixed: the second quarter gross domestic product was revised upward from the 4.1% initial reading to 4.2% annualized rate, the fastest pace of expansion in almost four years. However July pending home sales showed a decline of 0.7% in July.<\/p>\n

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

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Main European indices open lower<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>resumed advancing on Wednesday on hopes of better progress on Brexit than anticipated . The\u00a0GBP\/USD<\/em>joined\u00a0EUR\/USD\u00a0<\/a>climb and both pairs are higher currently. The Stoxx Europe 600 rose 0.3%. Germany\u2019s\u00a0DAX 30\u00a0<\/em>ended 0.3% higher at 12561.68. France\u2019s\u00a0CAC 40\u00a0<\/a>added 0.3% while UK\u2019s\u00a0FTSE 100\u00a0<\/em>fell 0.7% to 7563.21. Markets opened flat to 0.3% lower today.<\/p>\n

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GBP\/USD jumped 1.2% after news the European Union\u2019s top Brexit negotiator Michel Barnier said the bloc was willing to offer the UK an unprecedented partnership, \u201csuch as has never been with any other third country.\u201d Brexit negotiations resumed last Tuesday and the prospect of a \u201cno-deal Brexit \u201d, when the final deadline of March 2019 for the UK exit could pass without any trade agreement ratified, has been a major drag on UK economy.<\/p>\n<\/div>\n<\/div>\n

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Asian indices mostly lower<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly in negative territory today in thin trading.\u00a0Nikkei\u00a0<\/em>ended 0.1% higher at 22869.50 despite a turn higher by yen against the dollar. China\u2019s stocks are lower as China\u2019s commerce ministry stated that trade issues with the United States can only be resolved through talks as equals: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 1.1% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 1% lower. Australia\u2019s All Ordinaries Index turned 0.01% lower despite sustained Australian dollar fall against the greenback.<\/p>\n

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Brent\u00a0<\/a>extends gains on US stocks drop<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are rising today. Prices jumped yesterday after the Energy Information Administration reported bigger than expected decline in crude stockpiles: US domestic crude supplies dropped by 2.6 million barrels last week when 1 million barrels fall was forecast by S&P Global Platts. Prices ended sharply higher yesterday: October Brent crude rose 1.6% to $77.14 a barrel on Wednesday.<\/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 slips despite GDP upgrade US stock market\u00a0ended solidly higher on Wednesday on hopes Canada will join the US-Mexico trade deal. The\u00a0S&P 500climbed 0.6% to 2914.04. The\u00a0Dow Jones\u00a0industrial average rose 0.2% to 26124.57.\u00a0Nasdaq\u00a0composite index jumped 1% to 8109.69. The dollar weakening continued despite GDP upgrade: 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-132836","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132836","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=132836"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132836\/revisions"}],"predecessor-version":[{"id":132838,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132836\/revisions\/132838"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=132836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=132836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=132836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}