Today, we saw a modest uptick in the major European stock indices, with France’s CAC, Spain’s Ibex, and Italy’s FTSE MIB leading the charge. Here’s a closer look at the final figures of the day:
– The German DAX edged up by 0.07%
– France’s CAC increased by 0.26%
– The UK’s FTSE 100 rose by a slight 0.05%
– Spain’s Ibex matched France with a gain of 0.26%
– Italy’s FTSE MIB climbed by 0.25%
As traders in London and across Europe wrapped up for the day, anticipation builds around the upcoming Fed rate decision. Meanwhile, across the pond, the US stock market is experiencing similar modest upward movements:
– The Dow Jones Industrial Average is up by 0.37%
– The S&P 500 has gained 0.21%
– The NASDAQ Composite saw a rise of 0.19%
– The Russell 2000 is also up, marking a 0.24% increase
In an interesting development, today’s rise in the Dow marks the first upward movement after nine consecutive days of declines, a streak not seen since 1978.
Switching gears to the US debt market, yield movements show a mixed picture:
– The 2-year yields have slightly decreased to 4.234%, down by 0.7 basis points
– The 5-year yield ticked up to 4.255%, up by 0.7 basis points
– The 10-year yield increased by 1.8 basis points, now at 4.402%
– The 30-year yield saw a rise to 4.600%, up by 2.1 basis points
Such mixed signals in the debt market add to the intrigue as we await the Federal Reserve’s next move.
