Back in the dark after yesterday’s declines
European equities end the session higher. The lagging behind is the UK’s FTSE 100 which gained a meager + 0.1%. Gains were also mixed with the German DAX leading the way at + 1.0%. Stocks rose on Monday but returned some of the gains on Tuesday.
The temporary fences show:
- The German DAX rose 1.0%. Daily low reaches -0.39%
- France’s CAC rose 0.8%. Daily low reaches -0.61%
- The UK’s FTSE 100 rose 0.1%. Daily low reaches -0.74%
- The Spanish ibex increased by 0.24%. Daily low reaches -0.53%
- Italy’s FTSE MIB rose 0.24%. Daily low reaches -0.51%
In other markets, as London / European traders seek to exit:
- Spot gold is trading up $ 16 or 0.82% to $ 1,944. It is trading right off the high price of the day at $ 1,945.98. The low price dropped to $ 1,902.89.
- Cash is also higher. It is trading up $ 0.58 orders 2.2% to $ 27.12. It’s right next to the hefty price tag of $ 27.15
- WTI crude oil futures are $ 0.08 to $ 43.43 higher. Hurricane Laura hits the Louisiana-Texas border. Inventory data showed a bigger than expected draw, but in line with last night’s API data. The high price hit $ 43.78. The low price hit a low of $ 43. The price is above its 200 day moving average at $ 43.25 today.
In the forex market, the US dollar has weakened since the start of the North American session. It’s lower vs. all major currencies except EUR and CHF. The NZD remains the strongest of the major currencies and works more on risk and rising commodities. The EUR is the weakest of the majors followed closely by the CHF.
The S&P Index and NASDAQ are set to close another record high, with a trade also hitting new all-time highs. The S&P Index is up nearly 15 points or 0.43% to 3,458.75. The NASDAQ index is up 133 points or 1.16% to 11599. Both are at session highs. The Dow industrial average continues to lag behind with a decline of -57 points or -0.20% to 28192.