European shares close higher with all major indices moving solidly higher
The major European shares are ending higher on the day, and in the process snapping three day losing streaks (for most of the indices). The closes are showing:
- German DAX, +1.1%
- France’s CAC, +0.95%
- UK’s FTSE 100 +0.62%
- Spain’s Ibex, +0.56%
- FTSE MIB +0.66%
The German DAX index moved down toward its 100 day moving average yesterday, but found support buyers.
In other markets as London/European traders look to exit:
- Spot gold is up $15.35 or 0.85% at $1815.84. The precious metals reacting to the lower dollar.
- Spot silver is trading up $0.20 or 0.95% at $22.66
- WTI crude oil futures are rolling sharply and currently up to dollars and $0.75 at $81. The high price reached $81.30. That’s the highest level since November 16
- The price of bitcoin is back in positive territory and trades at $42,750
In the US stock market, the major indices are now in positive territory
- Dow industrial average is up five points or 0.01% at 36075
- S&P index is up 19.9 points or 0.43% at 4690.40
- NASDAQ index is up 180.35 points or 1.2% at 15122
- Russell 2000 is up 10.5 points or 0.49% at 2181.68
In the US debt market, the yields are near unchanged. The US treasury will auction off three year notes at 1 PM ET:
- two year 0.909%, up 1.3 basis points
- five year 1.525%, +0.6 basis points
- 10 year 1.764%, +0.2 basis points
- 30 year 2.087, -0.4 basis points
In the forex, the CAD is the strongest while the JPY and the USD are the weakest. The USD has moved sharply lower after the Fed chair spoke to balance sheet reduction in terms of perhaps later in the year .