The major European indices are closing modestly higher. The gains are led by the FTSE MIB which rose 0.98%. A snapshot of the closing levels shows:German DAX +0.19%France's CAC +0.06%UK's FTSE 100 +0.01%Spain's Ibex +0.23%Italy's FTSE MIB +0.98%.The benchmark 10 year yields in Europe were also mixed: Germany, +1.6 basis points at 2.701%France +2.3 basis points at 3.366%UK -2.2 basis points at 4.597%Spain unchanged at 3.289%Italy +0.6 basis points at 3.543%As London/European traders look to exit, US major indices are higher led by the Russell 2000 and the NASDAQ index.Dow industrial average +26.98 points or 0.06% at 44660S&P index up 13.16 points or 0.21% at 6384.26NASDAQ index up 87.36 points or 0.41% at 21185.56. Russell 2000 up 18.81 points or 0.84% at 2261.79.After the close, Microsoft and Meta will report earnings: Microsoft EPS estimate of $3.38 on revenues estimate of $73.86 billion.Meta EPS estimate of $5.88 on revenues up $44.81 billionTomorrow, Apple and Amazon will report their earnings after the close.US yields are higher:2-year yield 3.899%, +2.5 basis points5-year yield 3.941%, +3.5 basis points10 year yield 4.364%, +3.6 basis points30 year yield 4.904%, possibly .6 basis pointsThe FOMC rate decision will be at 2 PM ET. The US dollar is trading higher ahead of that rate decision. The gains are led by the Australian and New Zealand dollars. The USD is up 0.86% vs the AUD and up 0.72% versus the NZD.The greenback is higher by 0.67% versus the EUR and 0.57% versus the GBP. The EURUSD is approaching its 50% midpoint of the move up from the May low at 1.1447. The low price today has reached 1.1459 within 12 pips of that key target. The EURUSD still has a ways before reaching its 100 day moving average which is at 1.1389..For the GBPUSD, the price has fallen below its 100 day moving average at 1.333928 low of 1.3270. It's percent midpoint from the April low comes in at 1.33475 and is the next key target for sellers if the price can continue to stay below the 100 day moving average.The continued strength in the US dollar has gold moving lower. It's price is currently down $-30.24 or -0.91% at $3297. The 100 day moving average comes in at $3250.48 and rising. This article was written by Greg Michalowski at investinglive.com.