Stocks play catch up after the US afternoon sell off on Friday

The European major stock indices are ending the session with declines. The indices had some hangover selling from the late US selling on Friday.

  • German DAX fell -0.7%
  • France's CAC fell -1.5%
  • UK's FTSE fell -1.4%
  • Spain's Ibex fell -1.3%
  • Italy's FTSE MIB fell -1.64%
  • Portugal's PSI 20 fell -1.86%

In the 10 year debt sector, yields are mostly lower:

  • Germany 0.738%, -3 basis points
  • France 0.996%, -2.3 basis points
  • UK 1.558%, -2.0 basis points
  • Spain 1.463%, -1.0 basis points
  • Italy 2.028%, -2.2 basis points
  • Spain 1.461%, -1.0 basis points
  • Portugal 2.049%, up 3.1 basis points

In other markets at the London close/NY midday:

  • Spot gold up $2.20 or 0.17% to $1335.13. The price has been moving up and down with the markets gyrations today. The high reached $1338.69 while the low extended to $1329.05
  • WTI crude oil futures are down $.51 or -0.76% at $64.95. That is off the high of $65.40 but higher than the intraday low at $64.52
  • Bitcoin is trading at $7323 down $735. It is trading away from its 200 day moving average at $7917. A close below the 200 day MA would be the first close below since October 2015

In the US stock market, the major indices have been moving down and up and back down again:

  • S&P is down -15 points or -0.54% at 2747. The high reached 2763.39 while the low extended to 2733.04
  • Nasdaq is down -20 points or -0.28% at 7220.61. The high reached 7277.35, while below extended to 7151.85
  • Dow is down -175 points or -0.69%

US yields are mixed:

  • two-year 2.121%, -2 basis points
  • five-year 2.57%, -1.8 basis points
  • 10 year 2.845%, up 0.4 basis points
  • 30 year 3.111%, up 2.5 basis points

In the forex market at the London close the USD remains the strongest (it was the strongest at the start of the NY day) and the GBP remains the weakest (it was the weakest at the start of the day too). The USD has gotten stronger in the NY morning session with stronger gains vs the EUR, CHF, and CAD leading the way over the NY morning.