The major European indices are ending the week today with moves to the downside. However, for the week, share prices are higher. A snapshot of the closing levels today shows:

• German DAX, -0.82%
• France’s CAC, -0.92%
• UK’s FTSE 100 -0.38%
• Spain’s Ibex -0.94%
• Italy’s FTSE MIB -1.11%.

For the trading week:

• German DAX, +1.97%
• France’s CAC +1.73%
• UK’s FTSE 100 +1.34%
• Spain’s Ibex +0.26%
• Italy’s FTSE MIB +1.15%

Not a great day but not about week for the major European indices.

Having said that, the German DAX had a chance to close a week at a record level but failed. The previous high close was at 24,304. The index today closed at 24,255.32.

The UK FTSE 100, however, is closing the week at a new record at 8941.13.

BTW… No letter on the EU tariffs yet, but expect it.

As London/European traders exit for the week, US stocks are lower:

• Dow industrial average is down -343 point or -0.77% at 44311. For the trading week the Dow is down -1.15%
• S&P index is down -22.57 points or -0.36% at 6257.99. Despite making new record highs this week, the index is now down -0.34% for the trading week.
• NASDAQ index is down -14.19 points or -0.07% at 20616.88. For the trading week the index is up 0.08% after it too made new record highs.

US yields moving higher have been a drag on US stocks:

• 2-year yield 3.899%, +3.2 basis points.
• 5-year yield 3.981%, +5.0 basis points
• 10 year yield 4.415%, +6.9 basis points
• 30 year yield 4.948%, +8.5 basis points.

For the trading week,

• 2-year yield, +1.6 basis points
• 5-year yield, +4.1 basis points
• 10 year yield, +6.5 basis points
• 30 year yield +8.6 basis points

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