MARKET WRAP: US and European Stocks Slip; Gold Back In Green

Despite some strong economic numbers out of the US and some from the EU, investors are still not supporting the bull case 


  • The S&P 500 Index dropped 0.29 percent as of 15:30 in London. This is despite the fact that the US consumer confidence data came in much stronger
  • The Stoxx Europe 600 Index fell 0.33 percent while the FTSE declined 0.57 percent.
  • The MSCI EM Index fell 0.22 percent.
  • The Dollar Spot Index dropped 0.40 percent after some soft Chicago PMI number, it came in at 52.6 vs Est 59.1.
  • The Euro recovered some of its losses today and moved higher by 0.34 percent to $1.1219. The move supported by the improvement in the  European flash GDP number, Act 0.4 percent vs Est 0.3 percent.
  • The Japanese yen gained 0.40 percent to 111.34 per dollar.
  • The British pound has moved back above the 1.30 and gained 0.78 percent to $1.3034.
  • The yield on 10-year Treasuries moved lower by one basis points to 2.51 percent.
  • Germany’s 10-year yield was unchanged at -0.01 percent.
  • Britain’s 10-year yield gained three basis point to 1.19 percent.
  • Crude oil gained 0.12 percent to $65.91 a barrel.
  • Gold moved higher by 0.24 percent to $1,282 an ounce.