Major European indices are closing up sharply in trading today. Hopes that Pres. Trump will not impose proposed tariffs in the short term and that some countries could be exempted helped to support prices.

For Spain’s Ibex, it is closing up around 1.36% near 13504.31. That is a new high close going back to May 2008.

Spain’s Ibex is trading to new high going back to 2008

Italy’s FTSE MIB is up around 1.11% and remains close to its highest low going back to 2007. The high price was reached on March 19 at 39712.65. The price is currently trading at 39395.

The snapshot of the levels currently shows:

German DAX +1.10%
France’s CAC +1.08%
UK’s FTSE 100 +0.30%
Spain’s Ibex +1.21%
Italy’s FTSE MIB +1.06%

As London/European traders had for the exits, US indices are trading mixed:

Dow industrial average is down -48.18 points or -0.11% at 42535.30.
S&P index is down -0.82 points or -0.02% at 5766.68.
NASDAQ index is up +35.17 points or 0.20% at 18224.50
Russell 2000 is down -9.46 points or -0.45% at 2099.90.

Looking at the US debt market, yields are lower after some weaker data today:

2-year yield 4.006%, -3.0 basis points
5-year yield 4.055%, -3.7 basis points
10 year yield 4.301%, -2.9 basis points.
30 year 4.643%, -1.3 basis points.

The US treasury will auction off $16 billion of two year notes at the top of the hour.

Looking at the US dollar today, it is lower versus all the major currency pairs. The biggest declines have been versus the Yen at -0.64%, and the AUD at -0.32%