{"id":133898,"date":"2018-09-18T06:41:42","date_gmt":"2018-09-18T10:41:42","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133898"},"modified":"2018-09-18T06:41:42","modified_gmt":"2018-09-18T10:41:42","slug":"sp500-snaps-six-day-winning-streak","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/sp500-snaps-six-day-winning-streak\/","title":{"rendered":"SP500 snaps six-day winning streak"},"content":{"rendered":"
September 18, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Technology shares slump<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>retreated on Monday as technology sector slumped ahead of President Trump\u2019s announcement on imposing tariffs on additional $200 billion Chinese imports. The\u00a0S&P 500\u00a0<\/em>fell 0.6% to 2888.80.\u00a0Dow Jones\u00a0<\/a>industrial lost 0.4% to 26062.12. The\u00a0Nasdaq\u00a0<\/em>composite index dropped 1.4% to 7895.79. The dollar strengthening reversed:\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 0.5% to 94.478 and is lower currently. Futures point to higher openings today.<\/p>\n

\"SP500<\/p>\n

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US and Canada negotiations continued with no apparent resolution to contentious issues such as opening of Canadian dairy market for US producers and crapping of trade dispute mechanism of old North American Free Trade Agreement. Economic data were mixed: the Institute for Supply Management\u2019s August read on the services sector rose to 58.5% from 55.7% in the previous month, while the US created 163,000 private sector jobs in August, according to payrolls processor ADP. This was below the forecast of 182,000 new jobs.<\/p>\n<\/div>\n<\/div>\n

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FTSE 100 opens lower than other European markets<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>extended gains on Monday. The\u00a0GBP\/USD\u00a0<\/a>turned higher on Brexit talks optimism but is lower currently. The\u00a0EUR\/USD\u00a0<\/em>reversed the slide on talks Italy\u2019s economy minister will discuss with prime minister efforts to keep budget deficit within European Union\u2019s budget deficit rules. It is moving higher currently. The Stoxx Europe 600 index gained 0.1%. The\u00a0DAX 30\u00a0<\/em>however lost 0.2% to 12096.41 and France\u2019s\u00a0CAC 40\u00a0<\/em>slipped less than 0.1%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>slid less than 0.1% to 7302.10. Indices opened down to flat today<\/p>\n

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Mixed Germany data did little to boost market sentiment: factory orders in Europe\u2019s largest economy fell 0.9% over yar in July when a 1.9% increase was expected, while construction sector activities expanded in August.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mostly higher today despite 10% tariffs on about $200 billion worth of Chinese imports President Trump announced Monday, threatening to levy duties on an additional $267 billion of Chinese goods if Beijing retaliates.Nikkei\u00a0<\/em>jumped 1.4% to 23420.54 helped by resumed yen slide against the dollar. Chinese stocks are rising on hopes Beijing will step up infrastructure investment to offset the impact of the latest tariff: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 1.8% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.7% higher. Australia\u2019s All Ordinaries Index however turned 0.4% lower as Australian dollar continued the rebound against the greenback.<\/p>\n

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

Brent futures prices\u00a0<\/b>are extending losses today with concerns about impact of US sanctions on Iranian oil providing some support. Prices fell yesterday: November Brent crude settled 0.05% lower at $78.05 a barrel on Monday.<\/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 Technology shares slump US stock market\u00a0retreated on Monday as technology sector slumped ahead of President Trump\u2019s announcement on imposing tariffs on additional $200 billion Chinese imports. The\u00a0S&P 500\u00a0fell 0.6% to 2888.80.\u00a0Dow Jones\u00a0industrial lost 0.4% to 26062.12. The\u00a0Nasdaq\u00a0composite index dropped 1.4% to 7895.79. The dollar strengthening reversed:\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-133898","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133898","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=133898"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133898\/revisions"}],"predecessor-version":[{"id":133902,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133898\/revisions\/133902"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}