European major indices close mixed (thanks to the UK FTSE 100)

Major European indices closed mixed, with the UK’s FTSE 100 up 0.40%, but most other indexes closed lower.

A screenshot of the final levels shows:

• German DAX, -0.48%
• French CAC index -1.15%
• FTSE 100 +0.40%
• Spanish IBEX -0.56%
• FTSE MIB Italian Index -2.03%

As traders exited London/Europe, major US indices also rebounded and traded higher on the day amid choppy price action:

• The Dow Jones Industrial Average rose 373 points, or 0.94%, to 40,232 (back above 40,000).
• The S&P 500 rose 28 points, or 0.52%, to 5,455.41. The index had fallen -36.17 points at its session low.
• The Nasdaq rose 30.56 points, or 0.18%, to 17,374. At the session low, the index fell -308.45 points.

The Russell 2000 Small Cap Index is trading at 42.85 points, or 1.95%, at 2,238.30.

US yields fell as the yield curve tilted further to the downside:

• Two-year yield 4.416%, unchanged.
• 5-year yield 4.125%, -2.6 bps
• 10-year yield 4.242%, -4.3 bps
• 30-year bond yield 4.490%, -5.8bps

In goods:

• Crude oil is trading up $0.45 at $78.07
• Gold prices are down by about $ -38 or -1.62% at 2358.38
• Silver fell $1.07 or -3.72% to $27.82
• Bitcoin is trading at $64,700 after trading at a session low of $63,424.

Copper, which traded as low as 4.036, its lowest since April 1 and down -22.37% from its May 20 high, is trading at 4.139, up 0.73%.

Today, US GDP came in above expectations at 2.8% vs. 2.0% expected. Consumer spending, which accounts for two-thirds of GDP, was a contributor. Inventories added 0.8% to the overall figure.