German DAX rises by 1.11%. UK FTSE up 0.87%

the major stock indices in Europe are ending the 1st day of the year was solid gains. Spain's Ibex and Italy's FTSE MIB led the way with 1.4% gains.

A look at the provisional closes are showing:

  • German DAX, +1.11%
  • France's CAC, +1.14%
  • UK's FTSE, +0.87%
  • Spain's Ibex, +1.4%
  • Italy's FTSE MIB, up 1.4%
  • Portugal PSI 20, up 1.0%

In the debt market, the benchmark 10 year yields so yields move lower. The German and French 10 year oat fell -3.8 basis points on the day. Italy's 10 year note rose by 0.3 basis points.

European 10 year yields are lower

In other markets as European traders look to exit:

  • Spot gold is up $10.77 or 0.71% at $1528.06. The price is off its high at $1531.40
  • WTI crude oil futures are now trading lower by $0.27 or -0.44% at $60.78. That is near the low price for the day at $60.70. The high price extended to $61.60

In the US stock market the major indices are off their highs for the day (all-time intraday highs were reached in the S&P and NASDAQ).

  • S&P index up 7.17 points or 0.22% at 3238.07
  • NASDAQ index up 44.49 points or 0.50% at 9017.15
  • Dow up 153.6 points or 0.54% at 28692.22

In the US debt market yields have moved lower with 8 flatter yield curve. The 2-10 year spread has moved down from 34.84 basis points to 30.68 basis points in trading today.

US yields are lower

In the forex market, the JPY is the strongest of the majors as geopolitical concerns led to a run into the safety of the JPY. The GBP is the weakest. The USD is mostly higher with gains against all the major currencies with the exception of the JPY.

The JPY is the strongest and the GBP is the weakest