{"id":92873,"date":"2016-07-14T05:46:25","date_gmt":"2016-07-14T09:46:25","guid":{"rendered":"http:\/\/countingpips.com\/?p=92873"},"modified":"2016-07-14T05:46:25","modified_gmt":"2016-07-14T09:46:25","slug":"us-stocks-climb-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/07\/us-stocks-climb-higher\/","title":{"rendered":"US stocks climb higher"},"content":{"rendered":"
July 14, 2016<\/div>
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By IFCMarkets<\/a><\/p>\n

US stock market <\/b>advanced for the fourth session in a row on Wednesday with the S&P 500 and the Dow Jones industrial average closing at new record highs while oil fell. The dollar weakened: the live dollar index<\/a> data indicate the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, edged 0.18% lower to 96.299. The Dow Jones industrial average closed 0.1% higher at 18372.12 led by 1.2% rise in UnitedHealth Group shares. The S&P 500<\/a> gained less than a point edging up to 2152.43. Energy and consumer discretionary stocks limited broad market index\u2019s gains, down 0.7% and 0.5% respectively. The Nasdaq Composite Index declined 0.3% closing above 5000 level at 5005.73, falling again into negative territory for the year. Treasury prices rose Wednesday as 30-year bonds were sold at a record-low yield of 2.172%. Federal Reserve\u2019s Beige Book, presenting results of anecdotal survey of economic conditions, indicated that US growth from mid-May through the end of June was continuing at a \u201cmodest pace\u201d across most of the 12 Fed districts. Wage pressures were “modest to moderate” in most of the central bank’s districts and price pressures remained slight. Fed districts also reported some signs of softening in consumer spending but most retained an optimistic outlook. The report helped stocks inch higher with analysts noting that recent better-than-expected US economic data provide grounds for expectations of better-than-expected second quarter earnings. In other economic data US import prices rose 0.2% in June and the US ran a $6 billion budget surplus in June. Today at 14: 30 CET Initial Jobless Claims and Continuing Claims, as well June Producer Price Index will be released in US. At 16:30 CET Natural Gas Storage Change will be released by the Energy Information Agency.<\/p>\n

European stock markets<\/b> slipped on Wednesday ahead of Bank of England policy meeting after rising four sessions in a row. The euro strengthened against the dollar while the Pound fell as newly appointed Prime Minister Theresa May formed the new cabinet. The Stoxx Europe 600 edged 0.1% lower. Italian bank stocks and shares of most oil and gas companies fell. Germany\u2019s DAX 30 <\/a>index closed 0.3% lower at 9930.71 as Chinese trade data showed imports in June declined 2.3% year-over-year in yuan terms. China is an important export market for German companies. France\u2019s CAC 40 edged higher 0.1% and the UK\u2019s FTSE 100 closed 0.2% lower. Bank of England policy meeting will take place today and the central bank is expected to cut the interest rate to 0.25% from 0.5%. Today at 13:00 CET the Bank of England will announce the interest rate decision.<\/p>\n

Asian stocks<\/b> are edging higher today with Hong Kong\u2019s Hang Seng Index up 0.8% while Shanghai Composite Index is down 0.2% and Australia\u2019s S&P ASX 200 is 0.4% higher. Nikkei rose 1% today to a more than one month high of 16385.89 helped by weaker yen which slipped to three week low of 105 for a dollar.<\/p>\n

Oil futures<\/b> prices are edging higher today after slumping on Wednesday following a report US crude oil output and supplies of gasoline and distillates increased last week. While crude output rose inventories declined less than expected. September Brent crude tumbled 4.6% to $46.26 a barrel on London\u2019s ICE Futures exchange on Wednesday.<\/p>\n

Gold <\/b>is pulling back today after spot gold gained 0.8% on Wednesday. It is down 0.9% at 1330.12 as dollar strengthens against the yen.<\/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 US stock market advanced for the fourth session in a row on Wednesday with the S&P 500 and the Dow Jones industrial average closing at new record highs while oil fell. The dollar weakened: the live dollar index data indicate the ICE US Dollar index, a measure of the dollar\u2019s strength against a […]<\/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-92873","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92873","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=92873"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92873\/revisions"}],"predecessor-version":[{"id":92879,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92873\/revisions\/92879"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=92873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=92873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=92873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}