November 18, 2024 at 04:47PM
Major European indices are closing the day with mixed results. The German DAX and Italy’s FTSE MIB move lower. The major indices are higher.
German DAX, -0.18%
France’s, +0.12%
UK’s FTSE 100, +0.57%
Spain’s Ibex, +0.33%
Italy’s FTSE MIB, -1.27%
As London/European traders had for the exits, US stocks have pushed into positive territory led by the NASDAQ index (up near 1%).
Dow industrial average is up 56.91 points or 0.13% at 43502
S&P index is up 37.23 points or 0.64% at 5908.01
NASDAQ index is up 183.92 points or 0.90% at 18863.78
Russell 2000 up 17.47 points or 0.76% at 2321.27
All the major indices fell last week. The Russell 2000 fell -3.99% while the NASDAQ index fell -3.15% (worst week since September 3).
In the European debt market, the benchmark 10 year yields are showing:
Germany 2.369%, +2.9 basis points
France 3.096%, +2.2 basis points
UK 4.466%, +0.6 basis points
Spain 3.069%, +1.2 basis points
Italy 3.569%, +2.3 basis points
in the US debt market, yields are off high levels and nearer the lows for the day:
2-year yield 4.309%, +0.9 basis points
5- year 4.306%, +1.1 basis points.
10 year yield 4.445%, +1.9 basis points
30 year 4.631%, +3.3 basis points
Gold is a big winner today after falling -4.52% last week (its worst week since falling 6.03% during week of June 14, 2021).
Looking at the hourly chart, the price moved above its 100-hour moving average earlier today, then retested the 100-hour moving average before rising over the last 10 or so trading hours. The 200-hour moving average at $2622.85, is the next target. The current prices trading at $2611.12, up $48.16 or 1.87%.
This article was written by Greg Michalowski at www.forexlive.com.
