{"id":164499,"date":"2020-02-06T07:23:27","date_gmt":"2020-02-06T12:23:27","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=164499"},"modified":"2020-02-06T07:23:27","modified_gmt":"2020-02-06T12:23:27","slug":"sp500-nasdaq-close-at-records-on-upbeat-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/02\/sp500-nasdaq-close-at-records-on-upbeat-data\/","title":{"rendered":"SP500, Nasdaq close at records on upbeat data"},"content":{"rendered":"
February 6, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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

US stock market <\/b> closed at record high on Wednesday with better than expected data and corporate reports boosting risk appetite as President Trump was acquitted on impeachment by the Republican-led Senate. The S&P 500<\/a> advanced 1.1% to fresh record 3334.69. The Dow Jones <\/em> industrial average rose 1.7% to 29290.85. Nasdaq <\/em> gained 0.4% to new record 9508.68. The dollar strengthening accelerated as the Institute for Supply Management reported its purchasing manager\u2019s index for services sector rose to a six-month high of 55.5 in January. 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, rose 0.3% to 98.25 and is higher currently. Futures on stock indexes point to higher openings today.<\/p>\n

\"SP500<\/p>\n

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DAX 30 led European indexes recovery<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> ended higher on Wednesday supported by surprisingly strong data. GBP\/USD <\/em> joined EUR\/USD’s <\/em> accelerated decline yesterday with both pairs lower currently. The Stoxx Europe 600 ended up 1% led by auto shares as euro-zone\u2019s business activity expanded at a five-month high pace in January as evidenced by purchasing managers\u2019 index (PMI) final readings. Germany\u2019s DAX 30 <\/em> rose 1.5% to 13478.33 as Germany\u2019s service sector grew at its strongest pace in five months. France\u2019s CAC 40<\/em> advanced 0.9% while UK\u2019s FTSE 100 <\/em> added 0.6% to 7482.48.<\/p>\n

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Nikkei leads Asian indexes rebound<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are solidly higher today as coronavirus epidemic fears subsided. Nikkei <\/em> rose 2.4% to 23873.59 with yen slide against the dollar intact. Markets in China are solidly higher after China announced it cut tariffs in half on $75 billion of US goods. Shanghai Composite Index <\/em> is up 1.7% while while Hong Kong\u2019s Hang Seng Index <\/em> is 2.3% higher. Australia\u2019s All Ordinaries Index recovered 1.1% with Australian dollar decline against the greenback intact.<\/p>\n

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Aramco cuts Asia prices while Brent <\/a> recovers<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are extending gains today. Prices rebounded on Wednesday despite EIA report US crude oil inventories rose by bigger than expected 3.4 million barrels last week: April Brent added 2.5% to $55.28 on Wednesday. Shares of Saudi Aramco are down currently 0.15% at 33.60 riyals per share. Saudi Aramco lowered most of its official selling price \u201cdifferentials\u201d for the crude it sells to Asia. Saudi Aramco cut its official selling price differential for flagship Arab Light crude by 80 cents a barrel to a premium of $2.90 over the Middle East Oman-Dubai benchmark for March sales to Asia.<\/p>\n

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Gold weakening dynamic as Dollar strengthens resumes<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are extending losses while dollar inches up. The price of an ounce of gold for April delivery fell 1.6% to $1,556.70 Wednesday.<\/p>

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\nMarket 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 strengthening intact US stock market closed at record high on Wednesday with better than expected data and corporate reports boosting risk appetite as President Trump was acquitted on impeachment by the Republican-led Senate. The S&P 500 advanced 1.1% to fresh record 3334.69. The Dow Jones industrial average rose 1.7% to 29290.85. Nasdaq […]<\/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-164499","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164499","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=164499"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164499\/revisions"}],"predecessor-version":[{"id":164503,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164499\/revisions\/164503"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=164499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=164499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=164499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}