Back into the black after the declines yesterday
The European shares are ending the session higher. The laggard is the UK FTSE 100 which rose by a scant +0.1%. The gains were also varied with the German DAX leading the way at +1.0%. Shares move higher on Monday but gave back some of the gains on Tuesday.
The provisional closes are showing:
- German DAX rose 1.0%. The low for the day reach -0.39%
- France’s CAC rose 0.8%. The low for the day reached -0.61%
- UK’s FTSE 100 rose 0.1%. The low for the day reach -0.74%
- Spain’s Ibex rose 0.24%. The low for the day reached -0.53%
- Italy’s FTSE MIB rose 0.24%. The low for the day reached -0.51%
In other markets as London/European traders look to exit:
- Spot gold is trading up $16 or 0.82% at $1944. It is trading just off the high price for the day at $1945.98. The low price extended to $1902.89.
- Spot silver is also higher. It is trading up $0.58 orders 2.2% at $27.12. That is just off the high price of $27.15
- WTI crude oil futures are higher by $0.08 at $43.43. Hurricane Laura is bearing down on the Louisiana/Texas border. Inventory data showed a larger than expected drawdown but in line with the API data from last night. The high price reached $43.78. The low price has bottomed at $43. The price is above its 200 day moving average at $43.25 today.
In the forex market, the US dollar has gotten weaker since the start of the North American session. It is lower vs. all the major currencies with the exception of the EUR and the CHF. The NZD remains the strongest of the major currencies and running higher on risk-on and the rise in commodities. The EUR is the weakest of the majors followed closely by the CHF.
The S&P and NASDAQ index are on pace for another record close is a trade at new all time record highs as well. The S&P index is up near 15 points or 0.43% at 3458.75. The NASDAQ index is up 133 points or 1.16% at 11599. Both are at session highs. The Dow industrial average continues to lagged with a -57 point decline or -0.20% at 28192.
US yields are higher but off the highest level. At 1 PM the US treasury will auction off $51 billion of 5 year notes. The current yield is 0.307%, up 1.4 basis points. Below are the ranges and changes of the yield curve today:
In the European debt market, the benchmark 10 year yields are ending the session mixed: