European major indices enjoy solid gains to close the trading week

The major European indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term enjoy solid gains to close the trading week. The German Dax and Italy's FTSE MIB closed higher for the week.

In trading today:

• German Dax rose 227 points or 1.44% at 15961.03
• Frances CAC rose 92.16 points or 1.26% at 7432.94
• UK's FTSE 100 rose 75.72 points or 0.98% at 7778.37
• Spain's Ibex rose 99.98 points or 1.11% at 9143.59
• Italy's FTSE MIB rose 678 points or 2.54% at 27348.58

For the trading week, France, UK, and Spain moved lower. Germany and Italy closed higher this week helped by today's oversize gains:

• German Dax, up +0.24%
• Frances CAC down -0.78%
• UK's FTSE 100 down -1.17%
• Spain's Ibex down -1.01%
• Italy's FTSE MIB up +0.90%

In other markets as European/London traders look to exit for the day/week:

• spot gold is down $-37 or -1.81% at $2012.83
• spot silver is down $0.46 or -1.80% at $25.54
• WTI crude oil is up $2.60 or 3.79% at $71.17
• bitcoin is marginally higher from early New York levels at $29,334

in the US stock market, the major indices are enjoying solid gains after the soft landing employment numbers today:

• Dow industrial average of 377 points or 1.14% at 33504.50
• S&P index up 57.63.01.42 percent at 4118.94
• NASDAQ index up 211 points or 1.27% at 2177.70

US yields continue to move higher and retrace the declines from earlier this week:

• 2 year yield 3.938% +21.1 basis points
• 5 year yield 3.436% +16 basis points
• 10 year yield 3.459% +10.8 basis points
• 30 year yield 3.777% +5.6 basis points

in the Forex market, the US dollar moved higher after the jobs report but has retraced those gains and then some:

• EURUSD is squeezing back above its converts 100 and 200 hour moving averages at 1.10174. The shift puts the buyers back in control. The price currently trades at 1.1026
• GBPUSD is trading at a new session high and at the highest level going back to May 2022. The price just reached a new high for the day at 1.2652. The price is testing a swing area between 1.2597 – 1.26653 on the daily chart. Move above the high extreme and traders would start to look toward the 61.8% retracement of the move down from the June 2021 high at 1.27605

• USDCHF reached a high of 0.8973, but has retraced back toward the 200 hour moving average of 0.89122. Traders based against the 200 hour moving average earlier today before moving to the session high after the US jobs report. The 200 hour moving average and 100 hour moving average of 0.8900 is now key support. A move below shifts the bias back in the favor of the sellers. Holding this level keeps the buyers hopes in play. Key barometer today and going forward.

• AUDUSD is trading to a new session high and is back above its 200 day moving average of 0.67297. The low after the jobs report, stole the head of the rising 100 hour moving average at 0.6677. The low today reached 0.6683. The next target comes against the swing high from April 20 at 0.6771 area. Risk on flow for that currency pair.

Overall,, the AUD is the strongest of the majors while the CHF is the weakest. The USD is tilting more to the downside but is higher vs the CHF and JPY.