Most of the major European indices are closing lower. The exception is the German DAX. The other indices are closing near lows for the day after giving up gains:
- German DAX rose 156.68 points or 0.66% at 24038.72. At session highs the index was up 249 points.
- France's CAC fell -7.3 points or -0.09% and 8114.74. At session highs the index is up 38.77 points.
- UK's FTSE 100 fell -43.87 points or -0.45% at 9667.01. At session highs the index is up 27.38 points.
- Spain's Ibex fell -58.10 point or -0.35% at 16688.51. At session I, the index was up 9789 points.
- Italy's FTSE MIB fell -86.30 point or -0.20% at 43432.70. At session highs the index was up 156.68 points
For the trading week:
- German DAX +0.80%
- France's CAC -0.10%
- UK's FTSE 100 -0.55%
- Spain's Ibex, +1.94%
- Italy's FTSE MIB +0.17%
As London/European traders head for the exits, the US indices are higher:
- Dow industrial average +0.18%
- S&P index +0.18%
- NASDAQ index +0.22%
US yields are higher helped by the stronger-than-expected University of Michigan index. The better news is that the 1 year inflation expectations fell to 4.1% from 4.5% in the 5 year inflation expectations also fell to 3.2% from 3.4%
- 2-year yield 3.556%, +2.5 basis points
- 5 year yield 3.707%, +2.3 basis points
- 10 year yield 4.131%, +2.3 basis points
- 30 year yield 4.790%, +2.7 basis points
Looking at other markets:
- Crude oil is up $0.40 at $60.07.
- Gold is up $8.90 or 0.22% at $4217.
- Silver is up $1.35 or 2.35% at $58.43.
- Bitcoin is falling and is down $-3200 at $88,883
