MARKET WRAP: European Markets Closed Higher on Trade Optimism

There was a complete shift in the market sentiment today because of the growing optimism about a possible solution on trade war between the US and China. 

Stocks

• The S&P 500 Index jumped 0.3 percent on the back of the trade hopes as of 15:31 London time.
• The Nasdaq 100 soared 0.5 percent and the Dow Jones Industrial Average also added to its yearly gains by 0.4 percent.
• The Stoxx Europe 600 Index moved higher by 0.8 percent.
• Germany’s DAX Index jumped 0.9 percent.
• The MSCI Emerging Market Index followed other market and moved up by 0.1 percent.

• The Dollar Spot Index still moving higher despite dovish stance by the Fed and jumped  0.4 percent, hitting its peak in almost six weeks.
• The Euro dropped again and added more lossed today. It fell by 0.1 percent to $1.1309.
• The British pound was hammered on the back of the feeble economic data and plunged by 0.4 percent to $1.2898, the lowest level in three weeks.
• The Japanese yen lost more ground today and dropped by 0.6 percent to 110.36 per dollar.

• The yield on 10-year Treasuries jumped two basis points to 2.66 percent, breaking its consecutive days of losses in a week.
• Germany’s 10-year yield still very volatile and moved higher by three basis points to 0.11 percent.
• Britain’s 10-year yield is highly sensitive to to Brexit news and moved up by three basis points to 1.18 percent.

• West Texas Intermediate crude still out of luck because of lack of demand and dropped 0.7 percent to $52.34 a barrel, the weakest point in two weeks.
• Gold cant find its shine and dropped further again today by 0.7 percent to $1,305.09 an ounce, the lowest level in two weeks.