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
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).
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%.
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.