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European indices close with solid gains Gains of over 1% for most of the major indices.

  
Analysis, Global Indices
Spot gold is trading back above its 100 and 200D MAs

US stocks are showing some weakness especially in the NASDAQ index. The Dow industrial average however is seeing a flow into the relative safety of those cyclical stocks.

  • Dow industrial average up 154 points or 0.43% at 36083
  • S&P index down 5.37 points or -0.12% at 4704
  • NASDAQ index down -212 points or -1.36% at 15353
  • Russell 2000 is trading down -2.9 points or -0.13% at 2192.23

European indices end week with a 3 day losing streak after rising strongly Monday/Tuesday

  
Analysis, Global Indices

The major European indices are ending the week with a three day losing streak after rising strongly on Monday/Tuesday. Despite the declines, the indices are closing with gains for the trading week.

The provisional closes are showing:

  • German DAX, -0.1%
  • France’s CAC, -0.3%
  • UK’s FTSE 100, -0.35%
  • Spain’s Ibex -0.6%
  • Italy’s FTSE MIB, -0.4%

For the trading week, the major indices are trading with solid gains for the week:

  • German DAX + 3.0%
  • France’s CAC +3.2%
  • UK’s FTSE 100 +2.4%
  • Spain’s Ibex +1.4%
  • Italy’s FTSE MIB +3.0%

In other markets as European/London traders look to exit:

  • Spot gold is trading up $11.80 or 0.67% at $1785.50
  • Spot silver is up $0.20 or 0.92% $22.13
  • WTI crude oil futures are trading up $0.16 at $71.10
  • Bitcoin is trading at $47,641, and remains comfortably below the $50,000 level

Major European indices close in the red. Give up gains of over 1%

  
Analysis, Global Indices

German Dax -0.9%. France’s CAC -0.5%

The major European indices are closing in the red. The all gave up gains of nearly 1% or more at their intraday highs.  The provisional closes are showing:
  • German DAX, -0.7%. At the intraday high, the index was up 1.14%
  • France’s CAC, -0.5%. The high price for the day was up 1.13%
  • UK’s FTSE 100 -0.15%. The high price for the day reached 0.96%
  • Spain’s Ibex -0.7%. The high price for the day reached 0.9%
  • Italy’s FTSE MIB -0.3%. The high price for the day reached 1.07%
For the week:
  • German DAX, -0.6%
  • France’s CAC -0.5%
  • UK’s FTSE 100 +1%
  • Spain’s Ibex, -1.9%
  • Italy’s FTSE MIB +0.2%

Eurostoxx futures +0.6% in early European trading

  
Analysis, Global Indices

Positive tones in early trades

  • German DAX futures +0.4%
  • UK FTSE futures +0.3%
  • Spanish IBEX futures +0.3%
This follows a mixed showing in Europe yesterday though US stocks ended the day in a more positive fashion and that mood is carrying over to today, despite lighter trading conditions anticipated in the day ahead.
There isn’t much for traders and investors to work with on the day so a calmer mood may see things keep quieter in general as well.
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