Friday, 26 July 2024
by BD Banks
The major European indices are closing mixed thanks to the UK FTSE 100 which rose by 0.40%. The majority of the indices, however, did close lower.
A snapshot of the closing levels shows:
As London/European traders exit, the major US indices have also rebounded and trade higher on the day in volatile price action:
the small-cap Russell 2000 is trading at 42.85 points or 1.95% at 2238.30.
US yields are lower with the yield curve tilting more to the downside:
in commodities:
Copper which traded to a low of 4.036 its lowest level since April 1 and down -22.37% from its May 20 high, is trading up at 4.139 up 0.73%.
Today, the US GDP came in higher than expectations at 2.8% versus 2.0% expected. Consumer spending which accounts for two thirds of GDP was a contributor. Inventories also added 0.8% to the overall number.
This article was written by Greg Michalowski at www.forexlive.com.