10 year yields are mixed
The European major indices are closing mostly lower,w th the UK's FTSE bucking the trend (higher close).
- German DAX fell -0.6%
- France's CAC fell -0.6%
- UK's FTSE rose +0.2%
- Spain's Ibex fell -0.2%
- Italy's FTSE MIB fell -0.4%
- Portugal's PSI 20 fell -0.1%
In the 10 year debt sector, yields are mostly lower:
In other markets:
- Spot gold is down -$10.48 or -0.86% at $1217.05
- WTI crude oil futures is up $1 or 1.45% at $69.76. Saudi Arabia said that they would not flood the market with new oil production and expect August demand and supply to decrease
- Bitcoin is higher by $110.77 to $7445.72. The high price reached $7515. The digital currency is moving closer to its 100 day moving average at $7613.72 on the Coinbase exchange
US stocks are trading lower but well off its low levels:
- S&P indexes down 7.2 points or -0.26% at 2808.42
- NASDAQ composite index is down -11.06 points or -0.14% at 7843.60
- The Dow is down -74 points or -0.30% at 25124.
Microsoft reports after the close. It is currently trading down $.12 at $105.00 before the big event. Analysts expect Microsoft to report earnings of $1.08 a share. Analysts expect revenue of $29.23 billion, up from $25.61 billion a year earlier.
US yields are lower with the yield curve flattening (2-10 is at 25 bps).
In the forex market, the USD remains the strongest currency on the day with the largest gains against the risk pairs like the NZD, AUD and CAD.
