Hopes f him him him rom Gilead news propel European shares higher.
European indices are ending the session with solid gains on hopes from the Gilead remdesivir drug,
- German DAX, +3.0%
- France's CAC, +2.32%
- UK's FTSE 100, +2.77%
- Spain's Ibex, +3.24%
In the European 10 year note sector are mostly lower with the exception of Italy (their credit rating was lowered by Fitch after the close yesterday)
In other markets:
- Spot gold is trading down $4.39 or -0.26% at $1703.27
- WTI crude oil futures continued to move higher. The front June contract is up $3.78 or 30.6% at $16.12. The July contract is also higher by $2.18 or 12.4% and $19.79. The 2 contracts are converging at higher levels
In the US stock market the major indices are near high levels led by the NASDAQ index. After the close Facebook, Tesla, and Microsoft will be releasing earnings. Tomorrow Amazon and Apple will report after the close.:
- S&P index is trading up 67.67 points or 2.37% at 2931.10
- NASDAQ index it is trading up 255 points or 2.97% at 8863.33
- Dow industrial average it is trading up 500 points or 2.08% at 24602 point to do
In the US debt market yields are mixed with the 30 year bond trading unchanged. The 5 year note is down 2.3 basis points
In the forex market, the New Zealand dollar is the strongest while the US dollar is the weakest.
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