European indices close lower on the day and nearer session lows


UK FTSE fairs the best

The major European indices are ending lower on the day and also near there lows for the day.

The provisional closes are showing:

  • German DAX, -0.6%. The low for the day reached -0.7%. The high was +0.09%
  • France’s CAC -0.9%. It’s low for the day reached -1.14%. The high was +0.09%
  • UK’s FTSE 100, -0.1%. It’s low reached -0.27%. The high was +0.19%.
  • Spain’s Ibex, -1.5%. It’s low reached -1.76%. The high was -0.12%
  • Italy’s FTSE MIB -0.9%. It’s low reached -1.32%. The high was +0.13%

In other markets as London/European traders look to exit:

  • Spot gold is down $9.57 or -0.53% at $1794.60
  • Spot silver is down seven cents or -0.33% at$23.76
  • WTI crude oil futures are trading up $2.34 or 3.34% at $72.81
  • Bitcoin is up $1170 at $48,281
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The US stock market the snapshot shows the Dow and S&P higher while the NASDAQ is lower. The NASDAQ is on track for its sixth straight down day but is also off it’s lows for the day

  • Dow +96.93 points or 0.28% at 34674.21. it’s low reached  -55.54 points
  • S&P index +11.6 points or 0.26% at 4454.59. it’s low reached -5.45 points
  • NASDAQ index down 11.9 points or -0.08% at 15025.63. It’s low reached -53.1 points

In the forex market, the CAD is the strongest of the majors. The USD is now the weakest. The. The USDCAD is the biggest mover at 0.42% (to the downsides).  

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In the US debt market, yields have rebounded higher. The 10 year is now up 2.8 basis points at 1.3070% after trading as low as 2.6%.

US yields

Looking at the 10 year yield chart below, the yield has range between 1.217% 1.378% since August 6. A higher support level comes in at 1.267%. That is near the low yield for the day today.  At the recent high yields, the yield tested the 38.2% retracement of the move down from the 2021 high at 1.375%. If yields are to move higher, getting above that 38.2% retracement would be a clue.

10 year yield
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