France's CAC moves to new highs going back to 2010, but backs off
The major European indices are ending the session mixed. The France's CAC extended to new 2021 highs and to the highest level since 2000, but backed off into the close and are ending down marginally on the day.
A look at the closes shows:
- German DAX, -0.83%. The high for the day extended up +0.34%. The low was -1.29%
- France's CAC -0.07% after being up as much as 0.72%. The low reach -0.31%
- UK FTSE 100 is closing near unchanged
- Spain's Ibex, Rose 0.25%, but that is well-off the high of +0.8%
- Italy's FTSE MIB-0.75%. It traders highs +0.48%.
In other markets as London/European traders look to exit:
- Gold is moving lower on the higher yields. The price is down $-13.30 or -0.75% at $1768.62
- Silver is trading down $0.23 or -0.90% or $25.96
- WTI crude oil futures are up $0.80 or 1.25% at $64.67. That is off the intraday high of $65.47
- Bitcoin is trading down $600 a -1.13% at $53,813
In the US debt market, yields are higher but off their highest levels. The tenure yield reach day intraday high at1.686%. It currently trades at 1.6575%.
A snapshot of the US stock market shows declines in the NASDAQ, with modest gains in the Dow and S&P. However all of the indices are off there highest levels with the NASDAQ tumbling from +1.14% at the high to -0.25% at the low. The current index is down -0.08%.
In the forex market, the CAD remains the strongest of the majors with the GBP just behind. The AUD and NZD are now the weakest on risk off flows in the NY morning.
PS…US stocks have taken a turn to the downside in the last few minutes. The NASDAQ index is now down -0.34%. The S&P and Dow are still holding onto small gains. Apple shares which soared in after hours trading yesterday and opened higher today is now trading negative (down
$-0.40 or -0.3%).