{"id":168440,"date":"2020-04-10T06:59:37","date_gmt":"2020-04-10T10:59:37","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=168440"},"modified":"2020-04-10T06:59:37","modified_gmt":"2020-04-10T10:59:37","slug":"stocks-rise-as-fed-expands-emergency-lending-programs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/04\/stocks-rise-as-fed-expands-emergency-lending-programs\/","title":{"rendered":"Stocks rise as Fed expands emergency lending programs"},"content":{"rendered":"
April 10, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar falls on jobless claims jump<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> extended gains on Thursday as optimism over Fed\u2019s announcement of $2.3 trillion expansion of its financing program offset concerns after dismal job loss claims data. The S&P 500<\/a> rose 1.4% to 2789.82. The Dow Jones <\/em> industrial average advanced 1.2% to 23719.37. Nasdaq <\/a> composite index added 0.8% to 8153.58. The dollar weakening resumed as Labor Department reported 6.6 million Americans filed for unemployment insurance for the first time last week, while Federal Reserve announced a new lending program to provide $600 billion support for midsize businesses and $500 billion for states, counties and cities. 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, fell 0.6% to 99.55 and is lower currently. US exchanges are closed today in observance of Good Friday, and those in Europe will also be closed for Easter Monday.<\/p>\n

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FTSE 100 led European indexes\u2019 advance<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> recovered on Thursday. EUR\/USD<\/em> joined GBP\/USD\u2019s <\/em> accelerated climbing yesterday with both pairs higher currently. The Stoxx Europe 600 index advanced 1.4% led by travel and leisure shares. Germany\u2019s DAX 30 <\/a> gained 2.2% to 10564.74. France\u2019s CAC 40 <\/em> added 1.4% while UK\u2019s FTSE 100 <\/em> rose 2.9% to 5842.66 as the Bank of England agreed to temporarily finance UK government borrowing.<\/p>\n

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Nikkei rises while China\u2019s stocks fall<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today in light trading after markets shrugged off an additional 6.6 million jobless claims in US. Nikkei <\/em> ended 0.8% higher at 19498.50 despite continuing yen slide against the dollar. Markets in China are falling as China’s consumer inflation slowed in March: the Shanghai Composite Index <\/em> is down 1% while markets in Hong Kong and Australia are closed for Good Friday.<\/p>\n

\"Nikkei<\/p>\n

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Brent <\/a> fell as Mexico disagreed with OPEC cuts<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> ended lower yesterday erasing earlier gains after reports Mexico is holding up a deal by the world’s largest oil producers to curb production. The Organization of the Petroleum Exporting Countries and its allies agreed to cut production by 10 million barrels a day in May and June in the teleconference meeting. Saudi Arabia and Russia will each limit their production levels to 8.5 million barrels a day, with all members agreeing to cut supply by 23%. However Mexican officials disagreed with the proposed cuts to its production, and walked out of videoconference negotiations. Delegates still hope to convince Mexico in further talks today. June Brent crude lost 4.1% to $31.48 a barrel on Thursday. Exchanges are closed today in US and Europe.<\/p>\n

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Gold rallies as Dollar pulls back<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are extending gains today. Prices jumped yesterday: gold for June delivery rose 4.1% to $1752.80 an ounce on Thursday.<\/p>

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Market 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 falls on jobless claims jump US stock market extended gains on Thursday as optimism over Fed\u2019s announcement of $2.3 trillion expansion of its financing program offset concerns after dismal job loss claims data. The S&P 500 rose 1.4% to 2789.82. The Dow Jones industrial average advanced 1.2% to 23719.37. Nasdaq composite index […]<\/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-168440","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168440","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=168440"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168440\/revisions"}],"predecessor-version":[{"id":168452,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168440\/revisions\/168452"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=168440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=168440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=168440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}