European indices close mostly higher

The major European indices are closing the day with gains. The one exception is Italy’s FTSE MIB which was down marginally.

A snapshot of the closing levels shows:

• German DAX, +91.04 points or 0.43% at 21,296.91.
• France’s CAC rose 40.60 points or 0.56% at 7326.47.
• UK’s FTSE 100 rose 52.96 points or 0.64% at 8328.61.
• Spain’s Ibex rose 92.61 points or 0.72% at 13010.60
• Italy’s FTSE MIB fell -32.55 points or -0.09% at 35,947.89

US stocks are currently trading near highs with the NASDAQ now 3.3%. The S&P index is up 2.84% and the Dow industrial average is up 2.8% as investors cover shorts after the Treasury Secretary Bessent comments on China. Both the S&P and the NASDAQ indices are testing their 50 and 100 hour moving averages at session highs.

The S&P index has is 100 hour moving average at 5299 and its 50 hour moving average at 5303. The price is currently just above that level at 5305.38.

The NASDAQ index 100 hour moving averages at 16,388.56 and is 50 hour moving averages at 16,427.81. Its current prices trading between those levels at 16,397.

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