US Markets
Stock futures were flat overnight after a positive start to the week for U.S. equities.
- The Consumer Price Index will be released this morning and investors expect to see a lower inflation rate.
- CPI data will likely influence the Fed’s next interest rate decision this week.
- The current 10 Year U.S. Treasury yield is set at 3.60190%
Market |
Price |
Move |
Dow Jones |
34,429.88 |
0.10% |
S&P 500 |
4,071.70 |
-0.12% |
Nasdaq |
11,461.50 |
-0.18% |
Russell 2000 |
1,892.84 |
0.59% |
Canadian Markets
Statistics Canada released new data regarding the household debt-to-income ratio.
- The data shows that personal debt rose in Canada in Q3, with CA$1.83 in debt for every dollar of disposable income.
- In Q2, there was CA$1.82 in debt per dollar of disposable income, and in Q3 2021, there was CA$1.77, showing a gradual upward trend over the last year.
- Overall in Q3, household debt was up by 1.2% while disposable income rose 0.8%; that difference accounts for the rise in the debt-to-income ratio.
Market |
Price |
Move |
TSX |
20,485.66 |
–0.19% |
European Markets
European markets fell on Monday as investors await central bank announcements later this week.
- The Stoxx 600 lost 0.4%. Mining stocks led losses with a 1.6% drop.
- The only sector that finished in the green was oil and gas, which gained 0.3%.
- The Federal Reserve, Bank of England, European Central Bank, and the Swiss National Bank will all make monetary policy decisions this week.
Market |
Price |
Move |
Euro STOXX 50 |
3,977.90 |
-0.17% |
UK (FTSE 100) |
7,556.23 |
-0.03% |
Germany (DAX) |
14,529.39 |
0.27% |
France (CAC 40) |
6,742.25 |
-0.17% |
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Asian Markets
Stocks in Asia were mixed on Monday and early Tuesday morning.
- Business sentiment in Australia turned negative in November for the first time in 11 months.
- The Bank of Korea will share the minutes from its November meeting today, providing insights into future monetary policy.
- India registered an annual inflation rate of 5.88% last month, an 11-month low.
Market |
Price |
Move |
S&P Asia 50 |
4,423.85 |
-0.57% |
Japan (Nikkei 225) |
27,777.90 |
-1.59% |
South Korea (KOSPI) |
2,434.33 |
-1.84% |
China (Hang Seng) |
18,675.35 |
-0.33% |
India (SENSEX) |
62,868.50 |
-0.66% |
Commodities
Oil prices rose on Monday amid concerns about supply.
- The Keystone pipeline remains closed in the U.S. and Russia is threatening to cut production, which would cause prices to rise.
- China’s decision to ease “Zero Covid” restrictions is expected to cause an increase in demand for oil.
- Brent crude gained 2.5% and U.S. West Texas Intermediate rose 3%.
Market |
Price |
Move |
Oil (NYSEARCA:OIL) |
30.33 |
-1.01% |
Gold (NYSEARCA:GLD) |
167.26 |
-0.35% |
Silver (NYSEARCA:SLV) |
21.29 |
1.48% |
Corn (NYSEARCA:CORN) |
25.85 |
-1.26% |
Lumber (NASDAQ:WOOD) |
76.57 |
-0.43% |
Currency Exchange Rates
The U.S. Dollar rose on Monday ahead of the Federal Reserve’s meeting later this week.
- The Consumer Price Index due out today will significantly impact the dollar as it will indicate if the Fed is likely to continue with aggressive interest rate hikes.
- The U.S. Dollar Index was up 0.2% on Monday.
- The Chinese Yuan was down on the day due to concerns that Covid cases could spike in the country following the relaxation of “Zero Covid” restrictions.
Market |
Price |
Move |
UK(GBP) |
£0.81 |
-0.31% |
Europe (EURO) |
€0.95 |
-0.09% |
Canada (Canadian Dollar) |
$1.35 |
0.48% |
Japan (Yen) |
¥134.32 |
-0.63% |
Cryptocurrency
FTX founder Sam Bankman-Fried was arrested last night in the Bahamas after criminal charges were filed against him in the U.S.
- The indictment was sealed but was filed in the Southern District of New York.
- He is expected to be extradited to the U.S., where he will face charges based on that indictment. This is the first regulatory action against a member of FTX following the firm’s collapse.
- The charges are numerous and include money laundering, securities fraud, and wire fraud.
- Bankman-Fried was supposed to testify before the House Financial Services Committee today but will not appear due to the arrest.
- The SEC filed a complaint against Bankman-Fried today.
Market |
Price |
Move |
Bitcoin |
$16,934.90 |
-0.14% |
Ethereum |
$1,263.71 |
-2.46% |
Litecoin |
$75.92 |
-2.59% |
Bitcoin Cash |
$110.90 |
0.46% |
Good trading,
Chris Svorcik
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