{"id":134897,"date":"2018-10-04T06:40:49","date_gmt":"2018-10-04T10:40:49","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=134897"},"modified":"2018-10-04T06:40:49","modified_gmt":"2018-10-04T10:40:49","slug":"dow-logs-second-record-close-in-a-row","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/dow-logs-second-record-close-in-a-row\/","title":{"rendered":"Dow logs second record close in a row"},"content":{"rendered":"
October 4, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar boosted by data<\/h2>\n<\/div>\n<\/div>\n

US equities\u00a0<\/b>resumed growth on Wednesday buoyed by upbeat data. The\u00a0S&P 500<\/a>\u00a0edged up 0.1% to 2925.51. The\u00a0Dow Jones\u00a0<\/em>industrial average rose 0.2% to fresh record 26828.39, the fifteenth record in 2018.\u00a0Nasdaq\u00a0<\/em>composite index gained 0.3% to 8025.09. The dollar strengthening accelerated on reports ISM\u2019s Nonmanufacturing PMI jumped to 61.6 in September, above forecasts of 58: 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 0.5% to 95.973 and is rising currently. Futures on stock indices indicate lower openings today.<\/p>\n

\"DJI<\/p>\n

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DAX 30 opening loss smaller than main European indices<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>rebounded on Wednesday on reports Italy\u2019s budget deficit would be trimmed faster than expected. Both the\u00a0EUR\/USD\u00a0<\/em>and\u00a0GBP\/USD\u00a0<\/em>continued falling,\u00a0EUR\/USD\u00a0<\/em>is lower currently while\u00a0GBP\/USD\u00a0<\/em>has turned higher. The Stoxx Europe 600 rose 0.5%. German markets were closed for a holiday. France\u2019s\u00a0CAC 40\u00a0<\/a>climbed 0.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>gained 0.5% to 7510.28. Markets opened 0.1% – 0.3% lower today.<\/p>\n

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Investors\u2019 confidence was buoyed by reports Italy\u2019s budget deficit, set at 2.4% of GDP in 2019 by the coalition government, is planned to decline to 2.2% in 2020 and 2.0% in 2021.<\/p>\n

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Asian indices pull back<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly lower today in volatile trade as markets in mainland China remained closed for a holiday.\u00a0Nikkei\u00a0<\/em>ended 0.6% lower at 23975.62 as yen turned higher against the dollar. Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is sharply lower, down 1.8% after JPMorgan downgraded China\u2019s outlook. Australia\u2019s All Ordinaries Index however extended gains 0.5% as the Australian dollar\u2019s slide against the greenback persisted.<\/p>\n

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

Brent futures prices\u00a0<\/b>are extending gains today on increased bullish bets that US crude oil could surge to $100 a barrel by next year as US sanctions are re-imposed on Iran in November. Prices rallied yesterday despite the Energy Information Administration report of increase in US crude stockpile: domestic crude supplies jumped by 8 million barrels. December Brent crude rose 1.8% to $86.29 a barrel on Wednesday.<\/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 Dollar boosted by data US equities\u00a0resumed growth on Wednesday buoyed by upbeat data. The\u00a0S&P 500\u00a0edged up 0.1% to 2925.51. The\u00a0Dow Jones\u00a0industrial average rose 0.2% to fresh record 26828.39, the fifteenth record in 2018.\u00a0Nasdaq\u00a0composite index gained 0.3% to 8025.09. The dollar strengthening accelerated on reports ISM\u2019s Nonmanufacturing PMI jumped to 61.6 in September, above […]<\/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-134897","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134897","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=134897"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134897\/revisions"}],"predecessor-version":[{"id":134899,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134897\/revisions\/134899"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=134897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=134897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=134897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}