{"id":132904,"date":"2018-08-31T06:54:51","date_gmt":"2018-08-31T10:54:51","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132904"},"modified":"2018-08-31T06:54:51","modified_gmt":"2018-08-31T10:54:51","slug":"sp-500-nasdaq-snap-4-session-win-streak","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/sp-500-nasdaq-snap-4-session-win-streak\/","title":{"rendered":"SP 500, Nasdaq snap 4-session win streak"},"content":{"rendered":"
August 31, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar turns higher on PCE uptick<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>pulled back Thursday on reports President Donald Trump intends to order tariffs against $200 billion worth of Chinese products. The\u00a0S&P 500\u00a0<\/em>lost 0.4% to 2901.13.\u00a0Dow Jones\u00a0<\/em>industrial average fell 0.5% to 25656.98. TheNasdaq\u00a0<\/a>composite slid 0.3% to 8088.36. The dollar strengthening resumed: 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 0.2% to 94.667 but is lower currently. Stock index futures point to lower openings today.<\/p>\n

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Lingering trade war concerns weighed on market sentiment against the background of continuing financial turmoil in Argentina and Turkey. Economic data were mostly positive: initial jobless claims rose less than expected, with the monthly average hitting the lowest level since December 1969. Personal spending rose 0.4% in July from 0.3% in June while personal income grew at 0.3% when a steady 0.4% growth was expected. And the personal consumption expenditure index, the Federal Reserve\u2019s preferred inflation gauge, rose to 2.3% from 2.2%, the highest level since April 2012, suggesting the Fed is likely to stick to its rate hikes plan.<\/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>retreated on Thursday on mixed economic data. Both the\u00a0EUR\/USD\u00a0<\/em>and\u00a0GBP\/USD\u00a0<\/a>turned lower with both pairs higher currently. The Stoxx Europe 600 index lost 0.3%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>fell 0.5% to 12494.24. France\u2019s\u00a0CAC 40<\/em>ended 0.4% lower and UK\u2019s\u00a0FTSE 100\u00a0<\/em>dropped 0.6% to 7516.03. Markets opened 0.2% – 0.6% lower today.<\/p>\n

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Investors will be watching closely a meeting today between Michel Barnier, European Union\u2019s top Brexit negotiator and UK Brexit Secretary Dominic Raab. In economic news German jobless claims fell in August while its unemployment rate remained at 5.2%, as had been expected. UK car manufacturing fell 11% in July.<\/p>\n<\/div>\n<\/div>\n

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Asian indices fall<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are lower today with trade tensions still in focus as US companies have until September 6 to comment on duties for $200 billion worth Chinese imports proposed by President Trump.\u00a0Nikkei\u00a0<\/em>ended 0.02% lower at 22865.15 as yen climb against the dollar continued. Chinese stocks are lower despite a rebound in China’s manufacturing and services indexes in August: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.5% lower while Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is down 1.3%. Australia\u2019s All Ordinaries Index extended losses 0.5% while Australian dollar slide against the greenback slowed.<\/p>\n

\"AU200\"<\/p>\n

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Brent\u00a0<\/a>advance continues<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are advancing today on expected Iran sanctions and falling Venezuelan output. Prices ended higher yesterday: Brent for October settlement closed 0.8% higher at $77.77 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 Dollar turns higher on PCE uptick US stock market\u00a0pulled back Thursday on reports President Donald Trump intends to order tariffs against $200 billion worth of Chinese products. The\u00a0S&P 500\u00a0lost 0.4% to 2901.13.\u00a0Dow Jones\u00a0industrial average fell 0.5% to 25656.98. TheNasdaq\u00a0composite slid 0.3% to 8088.36. The dollar strengthening resumed: the\u00a0live dollar index\u00a0data show the ICE […]<\/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-132904","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132904","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=132904"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132904\/revisions"}],"predecessor-version":[{"id":132908,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132904\/revisions\/132908"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=132904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=132904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=132904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}