Major European indices are closing the day with mixed results:
- German DAX +0.13%
- France’s CAC -0.40%
- UK’s FTSE 100 +0.14%
- Spain’s Ibex -0.24%
- Italy’s FTSE review was the worst performer with a decline of 1.29%
Looking at other markets, the broader US stock indices are moving lower ahead of the FOMC rate decision at 2 PM. The Fed is expected to cut rates by 25 basis points. The Dow industrial average is higher led by Walmart and American Express which are both up by 2.5%.
Overall, there are 12 of the 30 Dow stocks which are up over 1% the day. Below is that list:
-
Walmart +2.51%
-
American Express +2.43%
-
Caterpillar +1.96%
-
Verizon +1.40%
-
Travelers +1.45%
-
Salesforce +1.36%
-
Procter & Gamble +1.34%
-
IBM +1.31%
-
Merck & Co. +1.09%
-
Amgen +1.11%
-
Coca-Cola +1.11%
-
Honeywell +1.07%
The snapshot of the US markets show:
- Dow industrial average +0.68%
- S&P index -0.12%
- NASDAQ index -0.52%.
The small-cap Russell 2000 is higher with a gain of 25 points or 1.05% on the hopes for lower rates going forward helping the smaller companies.
In the US debt market, yields are mixed with the shorter end higher in the longer end lower ahead of the rate decision:
- 2-year yield 3.532%, +2.2 basis points
- 5 year yield 3.610%, +2 point basis points
- 10 year yield 4.035%, +0.01 basis points
- 30 year yield 4.632%, -1.4 basis points.
Looking at other markets.:
- Crude oil $-0.16 at $64.36.
- Gold is down $-3.17 at $3686
- Bitcoin is down $-1200 at $115,620
