European shares close mixed; US tech stocks lags
European shares are closing mixed on Monday, with Spain's Ibex (+0.69%) and UK FTSE 100 (+0.35%) leading the gains while France, and Italy lagged. The broader European market was little changed as investors continued to monitor geopolitical developments surrounding Iran and the potential for additional U.S. sanctions.
European closing levels:
German DAX, -0.07% at 26,118.98
France's CAC, -0.37% at 8,453.02
UK's FTSE 100, +0.35% at 10,854.33
Spain's Ibex, +0.69% at 20,098.59
Italy's FTSE MIB, -0.24% at 52,542.17
There was little in the way of economic data to drive trading today, leaving geopolitical developments, movements in commodities and positioning ahead of events later this week as the primary influences.
As European traders head for the exits, U.S. stocks are mostly lower. Technology shares are the weakest, with the Nasdaq 100 down -0.73%, while the Dow is bucking the trend with a modest gain - erasing earlier declines. Investors are looking ahead to Nvidia earnings on Wednesday, and Fed Chair Kevin Warsh's Jackson Hole speech later this week. Nvidia shares are down -2.05% today and down -6.67% from the recent cycle set on August 13.
Looking at the US indices:
Dow industrial average, +152.02 points or +0.29% at 53,434.33
S&P index, -13.79 points or -0.18% at 7,660.57
Nasdaq composite, -95.78 points or -0.37% at 26,084.67
Russell 2000, -14.72 points or -0.49% at 3,003.15
Nasdaq 100, -213.13 points or -0.73% at 29,095.73
In the U.S. debt market, Treasury yields are lower across the curve, with the biggest declines coming at the long end:
2-year yield 4.2337%, -0.3 basis points
5-year yield 4.4046%, -1.94 basis points
10-year yield 4.6961%, -4.19 basis points
30-year yield 5.2276%, -4.84 basis points
In the forex market, the USD is higher vs the major currencies. The Canadian dollar is the weakest of the major currencies, falling 0.49% versus the USD after the breakdown in U.S.-Canada trade negotiations. The AUD and NZD are also lower versus the dollar by around -0.30%. The JPY and CHF have strengthened modestly, while the EUR and GBP are little changed.
In other markets, gold continues its sharp move higher and is trading at $4,665.18, up $62.52 or 1.36%. Gold has been supported by lower U.S. yields and demand for safe-haven assets.
Crude oil is moving in the opposite direction, with WTI trading at $84.78, down $1.85 or -2.14%. The September crude contract is down -2.80% at $84.62.
Silver is little changed at $68.81, down -0.20%.
Bitcoin is extending its recent rebound, trading at $79,583, up $1,866 or +2.40%.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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