{"id":164583,"date":"2020-02-07T06:59:51","date_gmt":"2020-02-07T11:59:51","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=164583"},"modified":"2020-02-07T06:59:51","modified_gmt":"2020-02-07T11:59:51","slug":"dow-joins-sp-500-nasdaq-to-close-at-records-after-china-promises-tariff-cut","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/02\/dow-joins-sp-500-nasdaq-to-close-at-records-after-china-promises-tariff-cut\/","title":{"rendered":"Dow joins SP 500, Nasdaq to close at records after China promises tariff cut"},"content":{"rendered":"
February 7, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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

US stock market <\/b> record rally was intact on Thursday against the background of China\u2019s pledge to cut in half tariffs on some $75 billion of U.S. imports beginning February 14. The S&P 500<\/a> gained 0.3% to 3345.78. The Dow Jones <\/em> industrial average gained 0.3% to 29379.77. Nasdaq <\/a> composite index rose 0.7% to 9572.15. The dollar strengthening slowed despite report the number of people applying for first time jobless benefits fell by 15,000 to 202,000 last week: 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 0.2% to 97.46 and is higher currently. Futures on stock indexes point to higher openings today.<\/p>\n

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CAC 40 led European indexes advance<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> extended gains on Thursday. Both the GBP\/USD <\/em> and EUR\/USD<\/em> continued their sliding yesterday with Pound reversing higher while euro lower currently still. The Stoxx Europe 600 index added 0.45% led by bank shares. Germany\u2019s DAX 30 <\/a> gained 0.7% to 13574.82. France\u2019s CAC 40 <\/em> rose 0.9% while UK\u2019s FTSE 100 <\/em> edged up 0.3% to 7504.79.<\/p>\n

\"CAC<\/p>\n

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Hang Seng leads Asian indexes retreat<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mostly lower today. Nikkei <\/em> ended down 0.2% at 23827.98 with yen little changed against dollar. Markets in China are mixed ahead of January trade report: the Shanghai Composite Index <\/em> is up 0.3% while Hong Kong\u2019s Hang Seng Index <\/em> is 0.7% lower. Australia\u2019s All Ordinaries Index pulled back 0.4% despite continued Australian dollar decline against the greenback.<\/p>\n

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

Brent futures prices <\/b> are extending losses today. Prices ended lower yesterday after reports Russia wasn\u2019t willing to commit to crude oil output cut after the OPEC+ Joint Technical Committee recommended a cut to production of its members and other allies of 600,000 barrels a day: March Brent crude lost 0.6% to $54.93 a barrel on Thursday.<\/p>\n

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Gold slips as Dollar strengthens<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are retracing lower today. Prices rose yesterday: April gold added 0.5% to $1570 an ounce on Thursday.<\/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 continues US stock market record rally was intact on Thursday against the background of China\u2019s pledge to cut in half tariffs on some $75 billion of U.S. imports beginning February 14. The S&P 500 gained 0.3% to 3345.78. The Dow Jones industrial average gained 0.3% to 29379.77. Nasdaq composite index rose […]<\/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-164583","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164583","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=164583"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164583\/revisions"}],"predecessor-version":[{"id":164585,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164583\/revisions\/164585"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=164583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=164583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=164583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}