European traders heads home for the day with stock gains

<p>European traders are heading for the exits with stock gains in their pockets. </p><p>The snapshot of the closing levels are showing:</p><ul><li>German DAX +1.58%</li><li>France CAC +0.91</li><li>UK FTSE 100, 0.56%</li><li>Spain's Ibex was 1.16%</li><li>Italy's FTSE MIB +0.87%</li></ul><p>Looking at the US stock markets as Europe calls it a day, are also higher:</p><ul><li>Dow Industrial Average up 127.48 points or 0.34% at 38033.91. That would represent a new high-closing level (above 37911)</li><li>S&amp;P index of 33.07 points or 0.68% at 4897.47. The S&amp;P index traded above 4900 for the first time ever to a new intraday high of 4901.29</li><li>NASDAQ index up 169 points or 1.10% at 15595.75.</li></ul><p>The small-cap Russell 2000 is up 5.67 points or 0.29%</p><p>Looking at the US debt market, yields are shifting modestly to the upside:</p><ul><li>2- year yield 4.365%, +1.7 basis points</li><li>5-year yield 4.056%, +0.5 basis points</li><li>10 year yield 4.145%, +0.3 basis points</li><li>30-year yield 4.382%, +0.3 basis points</li></ul><p>Crude oil is higher by $1.40 or 1.87% at $75.75. China lowered its itreserve requirement ratio of 0.5% which will free up $140 billion in liquidity. The hope is that it shakes the Chinese economy out of its Post – Covid doldrums. In addition to lowering the RRR rate, the PBOC would release policies on improving commercial property loans, giving hope to investors who have been frustrated by China's efforts to put a floor under a real estate sector. A stronger China recovery would be bullish for oil prices.</p><p>Bitcoin is getting a bump higher today as well with the price back above the $40,000 level at $40,048. </p><p>Gold is now lower on the back of a rebound in the USD and rates. The price is now down -$13 or -0.64% at $2015.81</p>

This article was written by Greg Michalowski at

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