July 25, 2024 at 05:13PM
The major European indices are closing mixed thanks to the UK FTSE 100 which rose by 0.40%. The majority of the indices, however, did close lower.
A snapshot of the closing levels shows:
German DAX, -0.48%
France CAC -1.15%
UK FTSE 100 +0.40%
Spain’s Ibex -0.56%
Italy’s FTSE MIB -2.03%
As London/European traders exit, the major US indices have also rebounded and trade higher on the day in volatile price action:
Dow Industrial Average average is up 373 points or 0.94% at 40,232 (back above 40,000)
S&P index is up 28 points or 0.52% at 5455.41. It index was down -36.17 at the session lows.
NASDAQ index is up 30.56 points or 0.18% at 17374. At session lows, the index was down -308.45 points
the small-cap Russell 2000 is trading at 42.85 points or 1.95% at 2238.30.
US yields are lower with the yield curve tilting more to the downside:
2-year yield 4.416%, unchanged.
5-year yield 4.125%, -2.6 basis points
10 year yield 4.242%, -4.3 basis points
30-year yield 4.490%, -5.8 basis points
in commodities:
crude oil is trading higher by $0.45 at $78.07
Gold prices are getting hit by $-38 or -1.62% at 2358.38
Silver is down $-1.07 or -3.72% at $27.82
Bitcoin is trading at $64,700 after trading at a session lows $63,424.
Copper which traded to a low of 4.036 its lowest level since April 1 and down -22.37% from its May 20 high, is trading up at 4.139 up 0.73%.
Today, the US GDP came in higher than expectations at 2.8% versus 2.0% expected. Consumer spending which accounts for two thirds of GDP was a contributor. Inventories also added 0.8% to the overall number.
This article was written by Greg Michalowski at www.forexlive.com.