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US stock indices break records

Summary

US stock indexes break historical records Description video: Participants of the both forex and stock markets are eagerly awaiting Trump’s press conference. At the end of 2016 stock prices skyrocketed, adding almost 10 percent after results of the US presidential […]

US stock indexes break historical records

Description video:
Participants of the both forex and stock markets are eagerly awaiting Trump’s press conference. At the end of 2016 stock prices skyrocketed, adding almost 10 percent after results of the US presidential race had been revealed.\nThus, the Nasdaq Composite index surged by 14 points to 5,021.75, followed by the S\u0026P 500 index which is trading at 2,264.50 points. At the same time, Dow Jones Industrial Average eased to the level of 19,800 but corrected to 19,823 afterwards.\nThe US dollar is also ascending against its major opponents. For example, the greenback-yen pair is pulling away from early lows today.\n\nThe pair recovered to the level of 115.94 from the low near 115.20. However, the longer-term outlook for the dollar-yen pair is mixed. Some analysts expect that the Japanese currency will be able to overcome its American counterpart. \nStill, the Japanese yen lacks momentum as it is hammered by an upbeat report on producer prices in China. According to official statistics, Chinese consumer prices jumped by 5.5 percent in December in annual terms beating expectations of a rise of 4.5 percent. It was the biggest increase for the last five years. It is unclear yet, whether this headwind will be strong enough to restrain the yen appreciation. Nevertheless, most experts believe that appearance of President-elect Donald Trump will be favorable for the greenback and US stock indexes which have already broken historical records. \n\nhttps://www.instaforex.com/

US stock indices break records

Yesterday, following the results of the last trading S&P rallied 0.5% to reach an all-time high of 3020 points. Nasdaq gained 0.9% on Wednesday and reached 8322 points.

US stock indices break records

However, the Dow Jones failed to demonstrate growth and sank 0.3%. This was aided by poor financial results from Caterpillar and Boeing. Caterpillar fell 4.5% after falling short of earnings expectations and cutting its forecast. Boeing shares fall 3.1% after news of $ 3.7bn loss amid 737 Max crisis.

US trade representatives will travel to China early next week for the next round of trade talks. Despite the fact that Treasury Secretary Steven Mnuchin expressed hope for a productive dialogue, this did not reflect positively on the American stock market.

Investors continue to focus on Friday’s GDP data and next week’s Federal Reserve meeting.

June new home sales fell below expectations, and the Markit Manufacturing Purchasing Managers Index fell to its lowest level since September 2009, according to the latest economic data..

The US dollar, measured by the ICE US dollar index, is slightly weaker compared to its major competitors. The index has been in the red for most of the day, but last changed slightly at 97.723. This year, the dollar has risen by 1.6%.

Mnuchin Says On CNBC Strong Dollar Means Strong US Economy. «I think the dollar is the world’s reserve currency and it is in our interest to keep it», – he said.

This contradicts previous comments from President Donald Trump, who called the dollar too strong, saying that it damages the competitiveness of American goods in the global market..