November 26, 2022

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The European major indices are ending the session mostly higher. UK’s FTSE 100 down

2 min read

US stocks are higher led by the NASDAQ

The major European indices are ending the session mostly higher. The in UK FTSE 100 is the exception.  A look at provisional closes are showing:

  • German DAX, +0.4%
  • France’s CAC, +0.6%
  • UK’s FTSE 100, -0.1%
  • Spain’s Ibex, +0.5%
  • Italy’s FTSE MIB, +0.6%

In other markets as London/European traders look to exit shows:

  • Spot gold, $-7.46 or -0.42% at $1804.15.
  • Spot silver is down $0.10 or -0.40% at $25.25
  • WTI crude oil futures are rebounding and trading up $1.22 or 1.8% at $69.25.
  • Bitcoin is also rebounding off session lows and trades at $39,293 down $447. It was down around $1800 earlier in the North American session.

In the US equity market, the major indices are higher with the S&P pushing near the record close level from Tuesday’s trade:

  • Dow, +200 points or 0.58% at 34992
  • S&P index up 19.58 points or 0.44% at 4422.24
  • NASDAQ index up 105.66 points or 0.71% at 14886.

In the forex market, a snapshot of the major indices shows the CAD is now the strongest of the majors, The JPY is the weakest. The USD is also weaker as investors exit the relative safety of the JPY and USD today.  

US stocks are higher led by the NASDAQ_


  • The Bank of England kept rates unchanged. There were no big surprises from the statement or comments from Bank of England’s Bailey. 
  • US initial claims came in as expected at 385K (versus 384K expected)
  • the US trade deficit of goods and services soared to a new record of -$75.7 billion
  • Canada trade balance showed a surplus of 3.23 billion was better than the -600 million deficit expected
  • Feds Waller reiterated his expectations at taper may come sooner than expected. He nevertheless expects inflation to also come back down after the recent spike.
  • The Atlanta Fed GDPnow estimate for Q3 growth dipped to 6.1% from 6.3% last.

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