Major European indices closed mixed, with the UK’s FTSE 100 up 0.40%, but most other indexes closed lower.
A screenshot of the final levels shows:
- German DAX, -0.48%
- French CAC index -1.15%
- FTSE 100 +0.40%
- Spanish IBEX -0.56%
- FTSE MIB Italian Index -2.03%
As traders exited London/Europe, major US indices also rebounded and traded higher on the day amid choppy price action:
- The Dow Jones Industrial Average rose 373 points, or 0.94%, to 40,232 (back above 40,000).
- The S&P 500 rose 28 points, or 0.52%, to 5,455.41. The index had fallen -36.17 points at its session low.
- The Nasdaq rose 30.56 points, or 0.18%, to 17,374. At the session low, the index fell -308.45 points.
The Russell 2000 Small Cap Index is trading at 42.85 points, or 1.95%, at 2,238.30.
US yields fell as the yield curve tilted further to the downside:
- Two-year yield 4.416%, unchanged.
- 5-year yield 4.125%, -2.6 bps
- 10-year yield 4.242%, -4.3 bps
- 30-year bond yield 4.490%, -5.8bps
In goods:
- Crude oil is trading up $0.45 at $78.07
- Gold prices are down by about $ -38 or -1.62% at 2358.38
- Silver fell $1.07 or -3.72% to $27.82
- Bitcoin is trading at $64,700 after trading at a session low of $63,424.
Copper, which traded as low as 4.036, its lowest since April 1 and down -22.37% from its May 20 high, is trading at 4.139, up 0.73%.
Today, US GDP came in above expectations at 2.8% vs. 2.0% expected. Consumer spending, which accounts for two-thirds of GDP, was a contributor. Inventories added 0.8% to the overall figure.