The major stock indices in Europe are closing mostly higher. The exception is Spain’s Ibex which fell -0.39%. A snapshot of the changes for the day shows:
- German DAX, +0.29%.
- France’s CAC +0.64%
- UK’s FTSE 100 +0.25%
- Spain’s Ibex -0.39%
- Italy’s FTSE MIB +0.60%.
As London/European traders head for the exits, US indices are now higher. The Dow industrial average is leading with a gain of 0.62%. 3M and Coca-Cola are leading the way with gains of 5.29% and 3.62% after reporting better than expected earnings. 9 of the 30 stocks have gains of over 1%.
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3M (MMM): +5.29%
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Coca-Cola (KO): +3.62%
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Salesforce Inc (CRM): +3.56%
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Amazon.com (AMZN): +2.71%
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Sherwin-Williams (SHW): +2.39%
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Nike (NKE): +2.05%
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Honeywell (HON): +1.53%
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Walt Disney (DIS): +1.46%
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Travelers (TRV): +1.13%
The S&P index is currently up 10.25 points or 0.15%. The NASDAQ index is up 4.99 points or 0.02%.
Looking at the US debt market, yields are lower with a flatter yield curve:
- 2 year yield 3.455%, -0.9 basis points
- 5 year yield 3.556%, -2.2 basis points
- 10 year yield 3.960%, -2.7 basis points
- 30 year yield 4.546%, -3.2 basis points.
The 10 year yield reached a low of 3.947%, which was just short of the low from last week at 3.936%. The low yield for the year was at 3.860% reached back on April 4.
Gold is getting hammered today and on pace for its worst day since August 2020. The price is currently down 5.11% or $222 at $4134. The low price reached $4082.12. There is support at $4059.31. Close risk for traders is now the 200 hour moving average at $4169.52 (Green line on the chart below).
This article was written by Greg Michalowski at investinglive.com.