Major indices closing higher in Europe
The major European markets are closed and the indices are higher after reports that a big deal was coming between the US and China.
The provisional closes are showing:
- German DAX, +0.66%
- France's CAC, +0.53%
- UK FTSE 100, +0.98%
- Spain's Ibex, +0.94%
- Italy's FTSE MIB, +1.0%
In the 10 year note sector, the benchmark 10 year yields reversed higher after being lower earlier in the day, with the yield up by 3.2 basis points to 5.5 basis points.
In other markets, US stocks are higher but off the days highs levels as traders pare back assumptions of a deal and that tariffs will be reduced:
- S&P index up 20.45 points or 0.65% at 3162.15
- NASDAQ index up 39 points or 0.45% at 8693.10
- Dow up 189 points or 0.68% at 28100
The S&P index and NASDAQ index both made new all time highs at 3176.28 and 8745.82 respectively.
In the US debt market, yields have surged to the upside with the the 10 and 30 year issues up over 10 basis points on the day. The US treasury will auction off 29 year and 11 month reopened bonds at 1 PM ET/1800 GMT.
In the forex market as London/European traders look to exit, the AUD remains the strongest of the majors. while the JPY has taken over (from the GBP) as the weakest.
The USD has moved higher with the USDJPY leading the way to the upside. The USD is down versus the AUD and near unchanged versus the NZD. The greenback is marginally higher versus the CAD and EUR.
- Spot gold is down $7.63 at $1467.11. The high price moved up to $1486.93. The low extended to $1463.53. Higher dollar and higher rates are helping to reverse the gold moved lower along with less desire for the safety of gold.
- WTI crude oil futures are up $0.61 or 1.04% at $59.37. The high reached $59.72. The low extended to $58.75
