As London/European traders finish up the day, the major indices are closing the day mixed:
- German DAX -0.40%.
- France CAC, -0.12%
- UK FTSE 100 +0.28%
- Spain’s Ibex +0.13%
- Italy’s FTSE MIB, +0.03%
Looking at US markets as Europe leaves shows a mixed view as well but with more downside momentum for the losers. Both the S&P index and the NASDAQ index are getting hammered.
- S&P index -67.17 points or -1.19% at 5600
- Nasdaq index is faring much worse with a tumble of -452 points or -2.45% at 18054.57
For the NASDAQ it fell below its 100 hour moving average for the first time since June 4. There is a support near 17835 area where the 200 hour moving average is found and also the 38.2% retracement of the move up from the May 31 low. The 200-hour moving average comes in at 17839. The 38.2% retracement comes in at 17821.
The Dow industrial average is higher on the day by 192.51 points or 0.47% at 41,147. That index is on pace for another record closing level (3rd day in a row).
The Russell 2000 is currently down -14.81 points or -0.65% at 2248.99. The correction comes after a 12.81% run up from the low on July 3
Looking at the US debt market:
- 2-year yield 4.456%, +1.2 basis points
- 5-year yield 4.096%, +0.6 basis points
- 10 year yield 4.167%, unchanged
- 30-year yield 4.373%, -0.1 based points
The U.S. Treasury will auction off 20 year bonds at 1 PM ET.
Looking at other markets:
- Crude oil is trading up $1.91 or 2.37% at $82.68
- Gold is trading lower after reaching a new a day high price. The price is down $5.26 or -0.21% at 2463.33. The new all-time high price extended to $2483.76
- Silver is down $0.98 or -3.13% at $30.27. The low price today reach $30.16.
- Bitcoin is trading lower at $64,720. The high price that reached $66,129
This article was written by Greg Michalowski at www.forexlive.com.
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