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Fundamental Analysis
US stocks recovery continues
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[QUOTE="IFC Markets, post: 156038, member: 18359"] [SIZE=5][B]Dollar strengthening accelerated despite soft housing data[/B] [B][/B][/SIZE] [B]US stock market [/B]recovery continued on Tuesday. The [I]S&P 500 [/I]added 0.3% to 2628.20 led by healthcare and consumer staples shares. [I]Dow Jones [/I]industrial average rose 0.4% to 24748.73. The Nasdaq ended 0.85 points higher at 7082.70. The dollar strengthening accelerated despite S&P/Case-Chiller 20-city Index showed home prices across the country rose in September at the slowest pace in nearly two years. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.3% to 97.33 but is lower currently. Futures on three main US stock indices point to higher openings today. [SIZE=5][B]DAX 30 slips the most among major European indices[/B] [B][/B][/SIZE] [B]European stocks [/B]gave up part of previous session gains on Tuesday. Both the [I]EUR/USD [/I]and [I]GBP/USD [/I]continued declining but are higher currently. The Stoxx Europe 600 lost 0.3%. The German DAX 30 fell 0.4% to 11309.11. France’s [I]CAC 40[/I] slipped 0.2% and UK’s [I]FTSE 100 [/I]slid 0.3% to 7016.85. [SIZE=5][B]Hang Seng leads Asian indices gains[/B] [B][/B][/SIZE] [B]Asian stock indices[/B] are mostly in positive territory today. [I]Nikkei [/I]gained 1% to 22177.02 helped also by yen continued slide against the dollar. Chinese stocks turned higher as investors’ hopes for US-China trade dispute settlement were buoyed by US National Economic Council Director Larry Kudlow’s comment president Trump told aides that “a deal can be made” : the [I]Shanghai Composite Index [/I]is up 1.1% and Hong Kong’s [I]Hang Seng index [/I]is 1.4% higher. Australia’s All Ordinaries Index however turned lower 0.1% as Australian dollar extended gains against the greenback. [IMG]https://ifccd.net/uploads/image/HK50_O_28Nov2018.png[/IMG] [SIZE=5][B]Brent higher[/B] [B][/B][/SIZE] [B]Brent futures prices [/B]recovery continues today supported by expectations of OPEC cuts next week and North Sea outage due to a pipeline shutdown for a repair. Prices fell yesterday. The American Petroleum Institute late Tuesday report indicated US crude inventories rose by 3.5 million barrels last week. January Brent fell 0.5% to $60.21 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories. [/QUOTE]
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