German Dax, France's Cac and UK FTSE up 0.3%
The 0.3% is wild today with the German Dax, France's CAC and UK FTSE all up by that amount in trading today:
- German Dax, +0.3%
- France's CAC, +0.3%
- UKs FTSE, +0.3%
- Spain's Ibex, +0.2%
- Italy's FTSE MIB, +.65%
- Portugal's PSI 20, +0.12%.
For the week, the European shares were also higher.
Below is a snapshot of the weekly % changes of the major global stock indices. In Europe, the Spain's Ibex and France CAC are leading the way at up 1.91% and 1.72% respectively. The German Dax is up 1.51%. The UK FTSE lagged at 0.33%
Looking at the snapshot, the only major index lower this week was in Australia as political and a spat with China weighed on their stocks.
In the 10 year note sector today, the yields were higher with Italian yields up the most. German yields were up 0.5 bps and UK and France rates were up 0.7 bps
Other markets as London/European markets head to a week's close shows:
- Spot gold is up $22 or 1.89% and back above the $1200 level at $1208. The lower dollar is helping to turn the precious metal around.
- Crude oil is trading up $1.25 or 1.84% at $69.08. The high reached $69.31. The low $67.78
In the US stock market, the broad indices area trading at record levels:
- S&P is up 18.29 points or 0.64% at 2875.23. It is trading at the highs.
- Nasdaq is up 67.31 points or 0.85% at 7945.60. The high reached 7949.25
- The Dow is up 162 or 0.64% at 25819.70.
US yields are now mixed, with the yield curve continues to slide. The 2-10 snapshot is below 20 bps now at 19.7 bps.
Finally, the forex gainers and losers is showing a move into the riskier currencies (AUD and NZD) and out of the USD and the JPY.
It is kinda a mixed story in the markets. The stocks like what Powell said, but the bond market continues to move toward a recessionary yield curve. The dollar is following a slower growth idea from the yield curve.
