Continue to outperform
The European shares are ending the session with gains. The last 6 or 7 days have been higher as hopes for a solution for Covid brings buyers into the more depressed stocks around the globe.
The provisional closes are showing:
- German DAX, +0.8%
- France’s CAC, +1.9%
- UK’s FTSE 100, +1.9%
- Spain’s Ibex, +3.3%
- Italy’s FTSE MIB, +0.5%
Although the gains over the last 7 or so days have been impressive, the major indices still remain lower on the year:
- German DAX, -0.65%
- France’s CAC, -9.15%
- UK’s FTSE 100, -16.48%
- Spain’s Ibex, -19.25%
- Italy’s FTSE MIB, -11.23%
In other markets as European traders look to exit:
- spot gold is trading up $19.40 or 1.05% at $1882.62
- spot silver is up $0.26 or 1.09% at $24.36
- WTI crude oil futures are up $0.71 or 1.76% of $41
in the US debt market, yields are higher but steady and off the highest levels:
- 2 year 0.178%, +0 point basis points
- 5 year 0.447%, +1.9 basis points
- 10 year 0.954%, +3.0 basis points
- 30 year 1.743%, +3.4 basis points
in the US stock market, the volatility continues. However the major indices are rebounding sharply off of their lows:
- S&P index -4 points or -0.12% at 3545.99. The S&P was down -38.59 points at its low for the day
- NASDAQ index -107 points or -0.92% 11606. The NASDAQ index is down -289 points at its low for the day..
- Dow industrial average +177 points or 0.6% at 29332. The Dow was down -30.98 points at its low for the day.
In the forex, the GBP remains the strongest and the snapshot, while the AUD and NZD are fighting it out now for the weakest of the majors. The USD is within 0.11% of unchanged vs all the majors with the exception of the GBP (down -0.47% vs the GBP).