{"id":161949,"date":"2019-12-17T06:55:35","date_gmt":"2019-12-17T11:55:35","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=161949"},"modified":"2019-12-17T06:55:35","modified_gmt":"2019-12-17T11:55:35","slug":"sp500-notches-third-straight-record-high-on-deal-optimism","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/sp500-notches-third-straight-record-high-on-deal-optimism\/","title":{"rendered":"SP500 notches third straight record high on deal optimism"},"content":{"rendered":"
December 17, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakening resumes on manufacturing PMI decline<\/h2>\n<\/div>\n<\/div>\n

US stocks <\/b> record run continued on Monday as phase one trade deal optimism supported investors\u2018 risk appetite. The S&P 500 <\/em> advanced 0.7% to third consecutive record at 3191.45. Dow Jones <\/a> industrial added 0.4% to 28235.89. The Nasdaq <\/em> rallied 0.9% to fresh record 8814.23. The dollar weakening resumed after Markit\u2019s manufacturing PMI ticked down to 52.5 in December from 52.6, but the services sector gauge came in at 52.2 from 51.6. 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, slipped 0.1% to 97.12 and is lower currently. Futures on US stock indices point to higher openings today.<\/p>\n

FTSE 100 led European indexes gains as Conservative won elections<\/h2>\n<\/div>\n<\/div>\n

European stock markets <\/b> advance continued on Monday. The EUR\/USD <\/em> reversed its decline yesterday while GBP\/USD <\/em> continued its slide with no change in both pairs dynamics currently. The Stoxx Europe 600 index rose 1.5% to new record led by basic resources stocks. The DAX 30 <\/em> gained 0.9% to 13407.66 despite a report euro-zone manufacturing PMI came in at below expected 45.9 after 46.9 in November. France\u2019s CAC 40 <\/em> rose 1.2% while UK\u2019s FTSE 100 <\/a> rallied 2.3% to 7519.05 despite report UK composite PMI hit the lowest level in December since mid-2016.<\/p>\n

\"EU50<\/p>\n

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Shanghai Composite Index leads Asian indexes gains<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> joined global rally unleashed by US-China phase one deal news. Nikkei <\/em> rose 0.5% to 24066.12 despite yen\u2019s resumed climb against the dollar. Markets in China are advancing after data showed factory activity and retail sales in the world\u2019s second-largest economy were better than expected in November: the Shanghai Composite Index <\/em> is up 1.3% and Hong Kong\u2019s Hang Seng <\/em> Index is 1% higher. Australia\u2019s All Ordinaries Index however slipped 0.1% as Australian dollar reversed its climb against the greenback.<\/p>\n

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Brent <\/a> down<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are edging lower today. Prices gained yesterday after trade deal optimism: February Brent crude closed 0.2% higher at $65.34 a barrel on Monday. Saudi Aramco \u2018s IPO continues on the country\u2019s Tadawul exchange. And the stock will soon be available to overseas buyers too through the iShares MSCI Saudi Arabia ETF KSA. It is the only single-country exchange-traded fund for Saudi stocks, managed by BlackRock. The ETF tracks a group of companies called the MSCI Saudi Arabia IMI 25\/50 Index, measuring the performance of the large, mid and small-cap segments of the Saudi market. Saudi Aramco is expected to meet the minimum market cap requirement for early inclusion in the ETF by Tuesday, which would make it available for trading on Wednesday.<\/p>\n

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Gold up<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are edging higher today. Gold spot price slipped 0.03% yesterday.<\/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 resumes on manufacturing PMI decline US stocks record run continued on Monday as phase one trade deal optimism supported investors\u2018 risk appetite. The S&P 500 advanced 0.7% to third consecutive record at 3191.45. Dow Jones industrial added 0.4% to 28235.89. The Nasdaq rallied 0.9% to fresh record 8814.23. The dollar weakening […]<\/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-161949","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161949","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=161949"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161949\/revisions"}],"predecessor-version":[{"id":161961,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161949\/revisions\/161961"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=161949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=161949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=161949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}