{"id":92771,"date":"2016-07-12T07:40:18","date_gmt":"2016-07-12T11:40:18","guid":{"rendered":"http:\/\/countingpips.com\/?p=92771"},"modified":"2016-07-12T07:40:18","modified_gmt":"2016-07-12T11:40:18","slug":"us-stocks-close-at-new-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/07\/us-stocks-close-at-new-highs\/","title":{"rendered":"US stocks close at new highs"},"content":{"rendered":"
July 12, 2016<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

US stocks <\/b>closed at record high on Monday as market sentiment was boosted by Friday\u2019s strong jobs report. The dollar strengthened, helped by significantly weaker yen after Prime Minister Shinzo Abe announced new stimulus measures to support Japanese economy. According to the live dollar index<\/a> data the ICE US Dollar Index, a measure of the dollar\u2019s value against a basket of six major currencies, rose 0.2% to 96.516. The Dow Jones industrial average rose 0.4% settling at 18226.93 led by a 1.5% in Boeing. The S&P 500<\/a> gained 0.3% ending at 2137.16 led by technology and industrial stocks. Utilities and telecom stocks underperformed. The Nasdaq Composite Index added 0.6% closing at 4988.64 after trading above the 5000 level during the day for the first time this year. The strong nonfarm payroll report which showed 287000 jobs were created in June instead of expected 170000 assured market participants US economy isn\u2019t slowing down as feared after weak May report. Second earning season is starting and it is widely expected corporate earnings will continue declining. Today at 12:00 CET June Small Business Optimism Index by National Federation of Independent Business will be published. The tentative outlook is positive. At 16:00 CET May Wholesale Inventories, Wholesale Trade Sales, and Job Openings and Labor Turnover Survey Results will be published. The tentative outlook is positive. At 23:30 CET Minneapolis Fed President Neel Kashkari speaks on economy in Marquette, Michigan.<\/p>\n

European stocks<\/b> recorded third session of gains on Monday on expectations of more monetary stimulus by global central banks to prop economies after added uncertainties caused by Brexit vote. The euro weakened against the dollar while Pound edged higher even as the Bank of England is expected to cut interest rates at its Thursday meeting. The Stoxx Europe 600 gained 1.6% led by mining and industrial stocks. Germany\u2019s DAX 30<\/a> index rallied 2.1% to 9833.41 helped by 6.4% jump in Thyssenkrupp shares on news the German industrial conglomerate was in talks with India’s Tata Steel about a consolidation of European steel mills suffering from overcapacity, weak demand and cheap imports. France\u2019s CAC 40 index rose 1.8% and the UK\u2019s FTSE 100 index closed 1.4% higher. At Eurogroup meeting of euro-zone finance ministers France\u2019s finance minister on Monday expressed his support for the Italian government\u2019s efforts to aid its banking sector. Today finance chiefs will be discussing possible penalties to be imposed on Portugal and Spain for failure of the countries to lower their budget deficits. No important economic data are expected today in euro-zone.<\/p>\n

Asian stocks<\/b> are rising today to two and half month highs: Hong Kong\u2019s Hang Seng Index is up 1% with Shanghai Composite Index 1.6% higher. Australia\u2019s All Ordinaries Index is up 0.3%. Nikkei rallied 2.46% today as yen slid against the dollar and investors anticipated Shinzo Abe\u2019s government may propose $100 billion in fiscal spending to boost the economy. Exporters overperformed, Toyota gained 2.7% and Honda added 2.6%.<\/p>\n

Oil futures<\/b> prices are edging higher today as Iraq briefly suspended tanker loading at two export terminals after a pipeline leak and Nigerian rebels claimed they had attacked oil facilities. Prices fell yesterday to two month lows on reports OPEC\u2019s June crude production rose 300000 barrels a day from a month earlier to 32.73 million barrels a day, the highest level since August 2008. September Brent crude lost 1.1% settling at $46.25 a barrel on London\u2019s ICE Futures exchange on Monday.<\/p>\n

Gold <\/b>is steady today after spot gold fell 0.8% on Monday.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

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 US stocks closed at record high on Monday as market sentiment was boosted by Friday\u2019s strong jobs report. The dollar strengthened, helped by significantly weaker yen after Prime Minister Shinzo Abe announced new stimulus measures to support Japanese economy. According to the live dollar index data the ICE US Dollar Index, a measure […]<\/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-92771","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92771","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=92771"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92771\/revisions"}],"predecessor-version":[{"id":92775,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92771\/revisions\/92775"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=92771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=92771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=92771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}