European major indices close with gains

Technical Analysis

Author: Greg Michalowski | european

UK FTSE 100 +0.12%

The major European indices are closing with gains. The UK FTSE 100 lags the other indices, but still close higher.

  • German DAX, +0.21%
  • France's CAC, +0.57%
  • UK's FTSE 100, +0.12%
  • Spain's Ibex, +0.6%
  • Italy's FTSE MIB, +0.5%
In the European debt market, benchmark 10 year yields are lower. Investors continue to move into the Italian debt. Yields were down 7.3 basis points in Italy today:

UK FTSE 100 +0.12%_
In other markets:

  • Spot gold is currently trading up $3.12 or 0.20% $1570.30
  • WTI crude oil futures are trading down $-0.23 or -0.45% $53.23 in up and down volatile trading
In the US stock market, the major indices open higher moved into the red, and are now back positive on the day.  After the close Microsoft, Facebook, Tesla, PayPal will report earnings. Amazon will report tomorrow.

  • S&P index, +9.16 points or 0.28% at 3285.48
  • NASDAQ index up 22 points or 0.24% at 9291.62
  • Dow up 126 points or 0.44% at 28851
Apple is trading up 2.86%. Boeing shares are also higher (up 1.26%) despite a larger than expected loss and the company's 1st year on year loss since 1997.

In the US debt market yields are moving lower, with the yield curve flattening a bit:

US yields are moving lower with a modest flattening of the yield curve
In the forex market, the USD is the strongest of the majors, the CAD is the weakest - taking over that ranking from the NZD (at the start of the New York session).

The USD is the strongest and the CAD is the weakest
The USDCAD is trading near session highs and is just above the 1.3200 level.  For the day, the USDCAD is up 0.37% on the day and the biggest mover of the currency pairs.  

Still ahead today is the FOMC decision at 2 PM ET. At 2:30 PM ET, chairman the Fed drawn Powell will hold his press conference.  The change in rates is expected.

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