European major indices close mixed (thanks to the UK FTSE 100)

The major European indices are closing mixed thanks to the UK FTSE 100 which rose by 0.40%. The majority of the indices, however, did close lower.

A snapshot of the closing levels shows:

• German DAX, -0.48%
• France CAC -1.15%
• UK FTSE 100 +0.40%
• Spain’s Ibex -0.56%
• Italy’s FTSE MIB -2.03%

As London/European traders exit, the major US indices have also rebounded and trade higher on the day in volatile price action:

• Dow Industrial Average average is up 373 points or 0.94% at 40,232 (back above 40,000)
• S&P index is up 28 points or 0.52% at 5455.41. It index was down -36.17 at the session lows.
• NASDAQ index is up 30.56 points or 0.18% at 17374. At session lows, the index was down -308.45 points

the small-cap Russell 2000 is trading at 42.85 points or 1.95% at 2238.30.

US yields are lower with the yield curve tilting more to the downside:

• 2-year yield 4.416%, unchanged.
• 5-year yield 4.125%, -2.6 basis points
• 10 year yield 4.242%, -4.3 basis points
• 30-year yield 4.490%, -5.8 basis points

in commodities:

• crude oil is trading higher by $0.45 at $78.07
• Gold prices are getting hit by $-38 or -1.62% at 2358.38
• Silver is down $-1.07 or -3.72% at $27.82
• Bitcoin is trading at $64,700 after trading at a session lows $63,424.

Copper which traded to a low of 4.036 its lowest level since April 1 and down -22.37% from its May 20 high, is trading up at 4.139 up 0.73%.

Today, the US GDP came in higher than expectations at 2.8% versus 2.0% expected. Consumer spending which accounts for two thirds of GDP was a contributor. Inventories also added 0.8% to the overall number.

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