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November 17, 2017 - US Daily Stock Market Update
U.S. Stocks Fall With Dollar as Treasuries Advance By Bloomberg
Greenback falls for fourth day; commodities rally, oil rises.
Emerging-market stocks are headed for a six-year high.
U.S. stocks failed to add to the best rally in two months as the Treasury yield curve flattened further, raising concern about economic growth. The dollar dropped as the yen and gold gained.
The S&P 500 Index slipped Friday to cap a second week of losses. The spread between two- and 10-year Treasury yields hit the tightest level in a decade. The greenback remained linked to political developments in Washington, where the Senate girded for negotiations on its version of tax reform. The risk-off tone comes before a week shortened by the Thanksgiving holiday in the U.S.
Itís been tumultuous week in the U.S. as shares saw the biggest gain and the largest drop in two months after touching records a week earlier. Investors are trying to gauge whether benchmarks will continue a march to all-time highs on strong earnings and faster growth spurred by corporate tax cuts or if they will be pulled down amid lofty valuations, the flattest yield curve in a decade and a selloff in junk bonds.
The odds American firms will get a tax break improved Thursday after the House approved its version of the legislation. The Senate is still debating its own plan, trying to reduce the 10-year debt impact below $1.5 trillion. Adding to the discussion, Federal Reserve Bank of Dallas President Robert Kaplan said Friday the governmentís debt-to-GDP is possibly at unsustainable levels.
Elsewhere, bitcoin hovered under $8000. Commodities rebounded from the recent selloff. West Texas crude jumped to around $56 a barrel as Saudi Arabia moved to dispel doubts over Russiaís readiness to extend output curbs. The Japanese yen gained the most in more than two months against the dollar. Emerging market shares headed for the highest close in six years.
The S&P 500 Index fell 0.3 percent to 2,578.80 as 4 p.m. New York time.
The Stoxx Europe 600 Index decreased 0.3 percent., falling for the eighth time in nine days.
Japanís Nikkei 225 Stock Average climbed 0.2 percent to the highest in a week.
The MSCI Emerging Market Index increased 1.2 percent, set to close at the highest level since August 2011.
The Bloomberg Dollar Spot Index fell 0.4 percent, touching the lowest in more than three weeks.
The euro gained 0.2 percent to $1.1791.
The British pound rose 0.1 percent to $1.3210.
The Japanese yen climbed 0.9 percent to 112.09 per dollar, the biggest gain since Sept. 8.
The yield on 10-year Treasuries fell three basis points to 2.345 percent, falling for the third day this week.
Germanyís 10-year yield dipped two basis points to 0.36 percent, the lowest in more than a week.
Britainís 10-year yield gained one basis point to 1.294 percent.
West Texas Intermediate crude advanced 2.6 percent to $56.59 a barrel.
Gold gained 1.2 percent to $1,293.99 an ounce, the biggest gain in more than two months.
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Click Here For The Complete 2017 Schedule
Options University High Performance Stocks Live Seminar and Streaming Webinar / November 18 to 19 Las Vegas NV
Gold Silver Investing Webinar / November 18
Inside-Out-Trading Free Webinar / November 18
Track 'n Trade Live Forex Futures & AutoPilot Trading Free Webinars / November 20
CandleCharts Academy Training Event / November 20
Options University TradeSmith Video Weekly Newsletter / November 20
TradeStation Getting Started with TradeStation Trading Platform Free Webinar / November 21
MetaStock Successful Trading with MetaStock XV Free Webinar / November 21
Dr. Van Tharp Super Trader Summit / December 01 to 10 Cary North Carolina
TC2000 Free Stock Investing Trading Class / December 08 Orlando Florida
TC2000 Free Stock Investing Trading Class / January 12 Anaheim California
Housing Alerts Free Real Estate Investing Webinar / On-Going
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