European stock indices closed mixed at the start of the new trading week. The German DAX edged up by 0.11%, while France’s CAC fell 0.18%, the UK’s FTSE 100 declined 0.27%, Spain’s Ibex increased slightly by 0.07%, and Italy’s FTSE MIB slipped 0.08%.
In the United States, as European and London traders wrapped up their sessions, major US indices were trading near their session lows, showing broad weakness. The Dow Jones Industrial Average was down 149 points, or 0.31%, to 47,805. The S&P 500 declined 22.51 points, or 0.33%, to 6,848.18. The NASDAQ fell 50 points, or 0.21%, to 23,527. However, the small-cap Russell 2000 bucked this trend, rising 9.73 points, or 0.39%, to 2,531.12.
Among notable stock losers today were Netflix, down 4.49% to 95.73; Boston Scientific, down 4.33% to 93.29; Lululemon Athletica, down 4.04% to 182.34; Intel, down 3.99% to 39.76; and Tesla, down 3.65% to 438.38. Other significant decliners included Baker Hughes (-3.25%), Fortinet (-3.15%), Macy’s (-2.98%), Nike (-2.59%), Intuit (-2.52%), Stryker (-2.56%), Lennar (-2.22%), Airbnb (-2.10%), Live Nation Entertainment (-2.09%) and Palo Alto Networks (-2.06%).
On the upside, top gainers included Paramount Skydance, up 7.48% to 14.37; Celsius, up 3.85% to 43.68; Robinhood Markets, up 3.40% to 136.43; Ciena Corp, up 3.27% to 208.31; and Corning, up 2.91% to 88.47. Other winners were Chewy (+2.76%), Broadcom (+2.73%), Micron (+2.62%) and MicroStrategy (+2.08%).
In fixed income markets, US Treasury yields rose across the curve. The 2-year yield increased by 4 basis points to 3.604%, the 5-year yield rose 5.2 basis points to 3.767%, the 10-year yield gained 4.3 basis points to 4.181%, and the 30-year yield climbed 3.3 basis points to 4.825%.
Commodity markets showed some weakness, with crude oil down by $0.85 at $59.20 per barrel. Gold fell $1.50 to $1,195.77 per ounce, silver dropped $0.33 to $17.95, while Bitcoin edged higher by $42, trading at $90,441, improving from Friday’s close of $89,348.
For forex traders, the mixed performance of European indices combined with rising US Treasury yields and subdued commodity prices may influence currency movements. The rally in US yields generally supports the US dollar, while equity market weakness could add pressure on risk-sensitive currencies. Monitoring these cross-market relationships will be important for positioning in the forex markets this week.
Original Source: Greg Michalowski of investinglive.com
