London/European traders head for the exits
How do they leave it for the week?
The European stocks ending the day with declines for the day. In fact, they never traded in the black. Having said that, they did recover off of lower levels. They were still down, but not so negative.
For the US, as London/Europe exit, the US indices are trading near the lows with the Dow leading the way. J&J is getting hammered today (down -10% on the day) and contributing to a big chunk of the decline. The S&P and the Nasdaq are not far behind.
For the week, the major European indices eked out small gains:
- German DAX, +0.72%
- France's CAC, +0.84%
- Uk's FTSE, +0.99%
- Spain's Ibex, +0.80%
- Italy's FTSE MIB, +0.90%
In the 10 year note sector in Europe, yields fell today:
In the US debt market, the yields are lower today on the risk off trade (flows to the safety of the US debt issues).
In other markets, at the London close:
- Spot gold is down -$2.45 or -0.19% at 1239.65
- WTI crude oil is down -$1.50 or -2.85% at $51.09
- Bitcoin on Coinbase is down -$77 at $3175. The price is trading at new lows for the year taking out the earlier Dec low at $3212.
In the forex market, the strongest and weakest remain the same as at the beginning of the year. The JPY and the USD are the strongest. The NZD and the AUD are the weakest.