December 7, 2022

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European shares rebound higher in trading today

2 min read

Major indices closing higher on the day. German DAX up 1.5%

The major European indices are rebounding from yesterday’s sharp declines which is all the German DAX fall -1.77%. Today that index is up 1.5% – nearly fully retracing the declines.

A look at the provisional closes are showing:

  • German DAX, +1.5%
  • France’s CAC, +1.2% (it fell -1.43% yesterday)
  • UK’s FTSE 100, +0.9% (down -1.19% yesterday)
  • Spain’s Ibex, +0.2%
  • Italy’s FTSE MIB, +0.6%

In other markets as European/London traders look to exit,

  • Spot gold is trading up $8.29 or 0.44% at $1877.90.
  • Spot silver is up at $0.12 or 0.44% at $27.85
  • WTI crude oil futures are trading down $0.39 or -0.62% at $62.97
  • Bitcoin is rebounding by $3300 or 8.6% at $41,640

In the US debt market, yields are lower, led by a -3.2 basis point decline in the 10 year. 

Major indices closing higher on the day. German DAX up 1.5%_ In the European debt market benchmark 10 year yields were also lower with the exception of a small 0.2 basis point gain in Germany.
us stocks

In the US stock market, the NASDAQ index is up 218 points or 1.64%, and in the process, has moved back above its 100 hour moving average at 13491.  That tilts the bias more to the upside once again.

  • S&P index up 49.01 points or 1.19% at 4164.80
  • Nasdaq up 231.76 points or 1.74% 13531.02
  • Dow up 304 points or 0.90% 34199.23

In the forex, the a snapshot of the strongest of the weakest shows the CAD is the strongest while the USD remain the weakest of the major currencies.

The strongest the weakest currencies

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