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European major indices closing higher on the day but lower on the week

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The major European indices are closing sharply higher on the day, but it wasn't enough to erase declines for the week. For the day:

  • German Dax, 3.66%
  • Francis CAC +3.54%
  • UK's FTSE 100 +3.91%
  • Spain's Ibex +3.5%
  • Italy's FTSE MIB +3.5%

For the trading week:

  • German Dax, -3.3%
  • Francis CAC -2.56%
  • UK's FTSE 100 -0.33%
  • Spain's Ibex -1.04%
  • Italy's FTSE MIB -2.87%

Looking at the daily chart of the German Dax, the price decline this week so the index moved down some -15.24% from its November 2021 high.

A quick look around the market as London/European traders look to exit:

  • spot  gold  is trading down $18 or -0.96% at $1885
  • WTI  crude oil  is trading down $1.52 at $91.32
  • Bitcoin is trading up around $1000 at $39,395

US stocks are trading at their highest levels for the day

  • Dow industrial average is up 735 points or 2.21% at 33958
  • S&P index is up 87 points or 2.03% at 4375.74
  • NASDAQ index is up 194 points or 1.44%
  • Russell 2000 is up 30.62 points or 1.53% at 2025.97

In the US debt market, yields are higher with the two year up at 1.605%. The high-yield this week reached 1.640%.

The 10 year is up 1.4 basis points of 1.9860%. The high yield for the 10 year reach 2.016%.


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