The main European indices closed with mixed results today, led by the rise of the French CAC and the Spanish IBEX. The German, UK and Italian indices are lower.
The final figures show:
- German DAX -0.39%
- French CAC + 0.28%
- UK FTSE 100 -0.14%
- Spanish Ibex + 0.16%
- Italian FTSE MIB -0.16%
As traders exit London/Europe, a glimpse into other markets emerges:
- Gold is down – $12.49 – 0.62% to $2016.94.
- Silver fell -1.14 USD or -4.53% to 24.23 USD
- Crude Oil fell by $0.77 to $71.80
- Bitcoin is trading at $27,200. Near 5 pm yesterday, the price was trading at $27,889
In the US debt market, yields are lower but well below their lows:
- 2 years yield 3.866% -3.5 basis points
- 5-year yield 3.334% -4.0 basis points
- 10-year yield 3.389% -4.6 basis points
- 30 year yield 3.764% -3.5 basis points
In US stock markets, major indices were mixed with the Dow Jones Industrial Average under pressure as Disney shares fell (-8.17%).
- Dow Jones Industrial Average -221 points, or -0.66%, at 33,310.46
- S&P minus 9.08 points, or -0.22%, at 4,128.73
- The Nasdaq Index +12.0 points, or +0.10%, at 12,318.71
Alphabet shares rose $5.43, or 4.86%. Microsoft shares decreased – $2.53, or -0.81%. The big tech giants are taking on artificial intelligence.
Nvidia stock fell -2.30 USD, or -0.79%. Apple shares were unchanged at $173.53. Meta price increased by $4.23, or 1.81%.
Regional bank ETF KRE fell $0.47, or -1.27%, to $36.59 but fell off a low of $35.98. PacWest Bancorp fell $1.42, or -23.27%, at $4.67. Trade as low as $4 and as high as $5.23 today.
the Bank of England
Bank of England
The Bank of England (BoE) serves as the UK’s central bank and is one of the main drivers of monetary policy in Europe. As one of the oldest central banks in the world, having been established in 1694, the Bank of England is owned by the British government. Its central mission includes maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Furthermore, the Bank of England is responsible for issuing banknotes in the United Kingdom as well as overseeing the main bank payment system
The Bank of England (BoE) serves as the UK’s central bank and is one of the main drivers of monetary policy in Europe. As one of the oldest central banks in the world, having been established in 1694, the Bank of England is owned by the British government. Its central mission includes maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Furthermore, the Bank of England is responsible for issuing banknotes in the United Kingdom as well as overseeing the main bank payment system
Read this term It raises the key interest rate to 4.5% from 4.25%, marking the 12th consecutive rise and the highest level since 2008. The central bank seeks to curb the fastest inflation of any major economy and tackle inflationary pressures, such as persistent increases in food prices and strong wage growth. Policymakers voted 7-2 to increase, in line with economists’ expectations, and the Bank of England now expects inflation to fall more slowly than previously expected. The central bank will remain on track to ensure that inflation falls back to the 2% target.
In the United States, the initial letter Unemployment claims
Unemployment claims
Unemployment claims are a weekly statistic reported in the United States that is a leading measure of domestic employment. As one of the most closely watched US indices, unemployment claims carry significant weight in the financial markets, namely forex and the stock market. Unemployment claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, unemployment claims can be divided into two types, including initial unemployment claims or persons
Unemployment claims are a weekly statistic reported in the United States that is a leading measure of domestic employment. As one of the most closely watched US indices, unemployment claims carry significant weight in the financial markets, namely forex and the stock market. Unemployment claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, unemployment claims can be divided into two types, including initial unemployment claims or persons
Read this term It came in much higher than expected at 264K which was a 19-month high. Is the US labor engine slowing down?
The US Producer Price Index rose 0.2% in April, less than the 0.3% expected, with the core PPI rising 2.3% year-on-year. The increase in PPI was driven by portfolio management costs and petrol prices, while a 37.9% drop in chicken egg prices helped keep the number in check. The producer price index measures the prices that producers pay for the goods and services they need, and a smaller-than-expected increase indicates that inflation pressures may abate.
The US dollar rose as it headed towards safe-haven flows amid fears of a possible sharp decline.
GBPUSD remains under pressure as GBPUSD hit a fresh low of 1.2496 as London traders exit the day. Support is found at 1.2495 to 1.2500 on the hourly chart. Move lower and traders will target 1.2477 (61.8% of the move up from Apr 17th low).
Testing GBPUSD is the 1.2500 swing support