{"id":157832,"date":"2019-10-18T09:52:03","date_gmt":"2019-10-18T13:52:03","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=157832"},"modified":"2019-10-18T09:52:03","modified_gmt":"2019-10-18T13:52:03","slug":"sp500-gains-despite-weak-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/sp500-gains-despite-weak-data\/","title":{"rendered":"SP500 gains despite weak data"},"content":{"rendered":"
October 18, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakening accelerated after weak data<\/h2>\n<\/div>\n<\/div>\n

US stocks <\/b> resumed advancing on Thursday as positive earnings reports overshadowed weak economic data. The S&P 500<\/a> gained 0.3% to 2997.95. The Dow Jones <\/em> industrial average added 0.1% to 27025.88. Nasdaq <\/a> composite index rose 0.4% to 8156.85. The dollar weakening accelerated as data showed both new home construction and building permits fell in September, as did industrial production and manufacturing activity in Pennsylvania, Delaware and New Jersey. The live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, lost 0.5% to 97.57 but is higher currently. Stock index futures point to lower openings today.<\/p>\n

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FTSE 100 gains while other European indexes slip after Brexit agreement<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> ended higher on Thursday on draft Brexit deal to be approved by the British parliament and other EU member states. Both GBP\/USD <\/em> and EUR\/USD<\/em> accelerated their climbs yesterday but are lower currently. The Stoxx Europe 600 index ended 0.1% higher led by financial and heatlhcare shares. Germany\u2019s DAX 30 <\/a> however slipped 0.1% to 12654.98. France\u2019s CAC 40 <\/em> slid 0.4% while UK\u2019s FTSE 100 <\/em> added 0.2% to 7182.32 despite the Democratic Unionist Party announcement it will vote against the deal.<\/p>\n

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Shanghai Composite leads Asian indexes retreat after disappointing China growth report<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mostly falling today after worse than expected economic growth in China. Nikkei <\/em> rose 0.2% to 22492.68 as yen continued its slide against the dollar. Chinese stocks are in free fall after report China\u2019s GDP expanded at a 6% rate in Q3 over year, the worst pace of growth since the first quarter of 1992. The Shanghai Composite Index <\/em> is down 1.3% and Hong Kong\u2019s Hang Seng Index <\/em> is 0.6% lower. Australia\u2019s All Ordinaries Index extended losses 0.5% as Australian dollar continued climbing against the greenback.<\/p>\n

\"HK50<\/p>\n

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Brent <\/a> rose despite US crude inventories build<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are edging lower today. Prices ended higher yesterday despite Energy Information Administration report that US crude supplies climbed for a fifth week in a row, by 9.3 million barrels: December Brent crude rose 0.8% to $59.91 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 weakening accelerated after weak data US stocks resumed advancing on Thursday as positive earnings reports overshadowed weak economic data. The S&P 500 gained 0.3% to 2997.95. The Dow Jones industrial average added 0.1% to 27025.88. Nasdaq composite index rose 0.4% to 8156.85. The dollar weakening accelerated as data showed both new home […]<\/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-157832","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157832","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=157832"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157832\/revisions"}],"predecessor-version":[{"id":157846,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157832\/revisions\/157846"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=157832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=157832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=157832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}