FX Expert Funded

European stock traders go home with mixed results

European traders have headed for the exits with mixed results in the major stock indices. France CAC was the worst performer with a decline of -0.63% after their election results ended in a political stalemate. Neither the right nor the left can likely for me coalition government. Investors are not very happy.

The final numbers are showing:

German DAX, -0.02%France CAC, -0.63%UK FTSE 100, -0.13%Spain’s Ibex, -0.01%Italy’s FTSE MIB, +0.17%

Meanwhile in the US, the major indices have turned back to the downside. The S&P index and the Dow Industrial Average average is now lower on the day. Tomorrow Fed Chair Powell speaks. The U.S. Treasury starts there coupon auctions which include 3/10/30-year issues. Finally US CPI will be released on Thursday and PPI on Friday.

The snapshot of the market at 12:30 PM ET shows:

Dow Industrial Average average -51.41 points or -0.13%S&P index -2.13 points or -0.04% at 5565NASDAQ and neck steps 17.10 points or 0.09% at 18370

The small-cap Russell 2000 is up 11.75 points or 0.58% at 2038.40.

Looking at the US debt market, yields higher but off their highest levels:

2-year yield 4.626%, +2.7 basis points5-year yield 4.239%, +2.1 basis points10 year yield 4.282%, +0.9 basis points30-year yield 4.470%, +0.1 basis points

This article was written by Greg Michalowski at www.forexlive.com.

Leave a Comment

Your email address will not be published. Required fields are marked *

Call Now