European shares end the day higher

The major European indices are ending the day with gains. The gains are not on par with the China and Hong Kong gains of 4% but German Dax up 0.75% and France’s CAC up 1.28% is not bad.

The closing levels show:

• German DAX, +0.75%
• France’s CAC +1.28%
• UK’s FTSE 100 +0.28%
• Spain’s Ibex +0.33%
• Italy’s FTSE MIB +0.60%

As London/European traders head for the exits, US indices are also back in positive territory after earlier declines on the weaker US consumer confidence and Richmond Fed survey data.

• Dow industrial average +0.07%
• S&P index +0.10%
• NASDAQ index +0.36%

The small-cap Russell 2000 is unchanged

Looking at US yields as we head into the afternoon trading

• 2 year 3.554%, -2.1 basis points
• 5-year 3.490%, -0.5 basis points
• 10-year 3.752%, +1.5 basis points
• 30-year 4.109%, +2.7 basis points

Crude oil traded as high $72.40, but has since rotated back down and trades at $71.22. That’s still up $0.85 or 1.20% on the day. The 100 hour moving average comes in at $70.70. That is the next downside target that if broken would have traders targeting the 200 hour moving average near $70 and moving higher.

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