European traders are heading out of the markets with mixed results on major stock indices. The French CAC was the worst performer, down -0.63%, after the election results ended in a political deadlock. Neither the right nor the left are likely to form a coalition government. Investors are not very happy.
The final numbers show:
- German DAX index, -0.02%
- French CAC index -0.63%
- UK FTSE 100 Index, -0.13%
- Spanish IBEX, -0.01%
- Italy’s FTSE MIB, +0.17%
Meanwhile, major US indices are back in the bearish trend. The S&P and Dow Jones Industrial Average are now down for the day. Fed Chair Powell will speak tomorrow. The US Treasury will start auctioning 3/10/30-year coupons. Finally, the US CPI will be released on Thursday and the PPI on Friday.
This image of the market taken at 12:30 p.m. EST shows:
- Dow Industrial Average -51.41 points or -0.13%
- S&P 500 -2.13 points or -0.04% at 5,565
- Nasdaq down 17.10 points, or 0.09%, at 18,370
The Russell 2000 index of small-cap stocks rose 11.75 points, or 0.58%, to 2,038.40.
Looking at the US debt market, yields are higher but below their highs:
- 2-year yield 4.626%, +2.7bps
- 5-year yield 4.239%, +2.1bps
- 10-year yield 4.282%, +0.9bps
- 30-year bond yield 4.470%, +0.1bp