{"id":135157,"date":"2018-10-09T06:20:08","date_gmt":"2018-10-09T10:20:08","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=135157"},"modified":"2018-10-09T06:02:43","modified_gmt":"2018-10-09T10:02:43","slug":"dow-ends-higher-while-sp500-slide-continues","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/dow-ends-higher-while-sp500-slide-continues\/","title":{"rendered":"Dow ends higher while SP500 slide continues"},"content":{"rendered":"
October 9, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar resumes strengthening<\/h2>\n<\/div>\n<\/div>\n

US equities\u00a0<\/b>edged lower on Monday while\u00a0Dow\u00a0<\/em>ended marginally higher. The\u00a0S&P 500\u00a0<\/em>slipped 0.04% to 2884.43.\u00a0Dow Jones\u00a0<\/a>industrial rose 0.2% to 26486.78. The\u00a0Nasdaq\u00a0<\/em>composite index fell 0.7% to 7735.95. The dollar strengthening resumed on continuing gains in government bond yields:\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, added 0.15% to 95.754 and is higher currently. Futures on stock indices point to lower openings today.<\/p>\n

\"SP500<\/p>\n

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Technology stocks have been under pressure on US-China trade war concerns which weighed on Chinese stock market. However US economic data have been strong recently, Federal Reserve plans to extend monetary policy tightening into 2020 as US economic performance is expected to remain strong, and companies in the SP 500 are estimated to post 10% earnings growth in 2019, according to FactSet.<\/p>\n<\/div>\n<\/div>\n

European indices open higher<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>retreat continued on Monday led by Italian bank shares. Both\u00a0EUR\/USD\u00a0<\/em>and\u00a0GBP\/USD\u00a0<\/em>turned lower and are lower currently. The Stoxx Europe 600 index lost 1.1%. The\u00a0DAX 30\u00a0<\/em>dropped 1.4% to 11947.16 and France\u2019s\u00a0CAC 40\u00a0<\/em>fell 1.1%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>slumped 1.2% to 7233.33. Markets opened 0.1% – 0.2% higher today.<\/p>\n

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Italy\u2019s budget deficit concerns weigh on investor sentiment as Italian Deputy Prime Minister Matteo Salvini denounced European Commission President Jean-Claude Juncker and Economics Commissioner Pierre Moscovici as enemies of Europe. Earlier on Friday the EU had stated Italy\u2019s budget targets are a source of concern in a letter to Italy\u2019s economic minister Giovanni Tria. German economic data also added to downcast mood as the German industrial output fell 0.3% in August when an increase was expected.<\/p>\n<\/div>\n<\/div>\n

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NIKKEI falls after reopening<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>fell 1.3% to 23469.39 as the market caught up with regional declines while Japanese markets were closed for a holiday and yen gained against the dollar. Chinese shares rebounded after heavy selloff the previous day: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 0.2% while Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.1% lower. Australia\u2019s All Ordinaries Index extended losses 1% despite resumed slide of Australian dollar against the greenback.<\/p>\n

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

Brent futures prices\u00a0<\/b>rising today on reports Iran\u2019s crude exports fell further in the first week of October as the start of US sanctions on November 4 on Iranian crude exports approaches. Prices ended lower yesterday: December Brent crude fell 0.3% to $83.91 a barrel on Monday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dollar resumes strengthening US equities\u00a0edged lower on Monday while\u00a0Dow\u00a0ended marginally higher. The\u00a0S&P 500\u00a0slipped 0.04% to 2884.43.\u00a0Dow Jones\u00a0industrial rose 0.2% to 26486.78. The\u00a0Nasdaq\u00a0composite index fell 0.7% to 7735.95. The dollar strengthening resumed on continuing gains in government bond yields:\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against […]<\/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-135157","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135157","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=135157"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135157\/revisions"}],"predecessor-version":[{"id":135159,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135157\/revisions\/135159"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=135157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=135157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=135157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}