Stocks lower. 10 year yields mixed
The European major indices are mostly lower after giving up earlier gains:
- German DAX fell -99 points or -0.83% to 11,787.26. The high price extended up to 11,984.50
- France's CAC fell 28.94 points or -0.57% at 5066.28. The high reached 5127.
- UK's FTSE fell -33.25 points or -0.48% at 6888.69. The high reached 6958.47
- Spain's Ibex felt -12.10 points or -0.13% at 9381. The high reached 9460.40
- Italy's FTSE MIB closed down -277 points or -1.24% at 22,011. The high reached 22,354
- Portugal's PSI 20 close down -22.69 points or -0.42% at 5319. The high reached 5369.56
Looking at the daily chart of the German DAX, the load today stalled right at the 38.2% retracement of the move up from the February 2016 swing low at 11,726. A lower trendline cuts across at 11,650. Support area for that index. The high price reached 13,596 in January.
In the 10 year debt sector yields were mixed:
- Germany 0.523%, unchanged
- France 0.757%, unchanged
- UK 1.439%, -0.7 basis points
- Spain 1.260%, -1.0 basis points
- Italy 1.912%, +3.5 basis points
- Portugal 1.718%, unchanged
In other markets:
- Spot gold is trading up $8 or 0.60% at $1355.29
- WTI crude oil futures are trading down $.16 or -0.24% at $65.72
In the forex market, the NZD remains the strongest currency vs early NY session, the JPY remains the weakest. The USD got weaker since the NA open (click here).
