US Markets
Stock futures were flat overnight after a mixed day on Tuesday.
- The Nasdaq lost 0.59% on Tuesday and the S&P 500 dropped 0.16%, while the Dow Jones Industrial Average gained 0.01%.
- Federal Reserve Chair Jerome Powell will give a speech today at the Brookings Institution and could discuss future interest rate increases.
- Private payroll and jobs data will be released today.
- Salesforce, Petco, and Five Below will be reporting their earnings today.
- The current 10 Year U.S. Treasury yield is set at 3.74220%
Market |
Price |
Move |
Dow Jones |
33,852.53 |
0.01% |
S&P 500 |
3,957.63 |
-0.16% |
Nasdaq |
10,983.78 |
-0.59% |
Russell 2000 |
1,836.55 |
0.31% |
Canadian Markets
Canada’s economy is starting to feel the impact of higher interest rate hikes, with consumer spending declining.
- Data from Statistics Canada shows that GDP was flat in October after a 0.1% increase in September.
- Annualized GDP growth reached 2.9% in Q3, down from 3.2% in Q2 2022.
- Household consumption fell by 1% and business capital decreased by 5.1%.
Market |
Price |
Move |
TSX |
20,227.41 |
0.28% |
European Markets
Markets in Europe closed down slightly on Tuesday after a volatile trading session.
- The Stoxx 600 fell 0.1% after gaining 0.5% earlier in the day.
- Basic resource stocks rose 2.7% to lead markets and chemical stocks dragged down markets with a 1.7% drop.
- Germany’s annual inflation rate reached 10% in November but the Consumer Price Index shrank by 0.5% from the previous month.
Market |
Price |
Move |
Euro STOXX 50 |
3,934.44 |
-0.03% |
UK (FTSE 100) |
7,512.00 |
0.51% |
Germany (DAX) |
14,355.45 |
-0.19% |
France (CAC 40) |
6,668.97 |
0.06% |
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Asian Markets
Asian stocks were mixed on Wednesday morning after falling on Tuesday, with the Chinese government expected to report that factory activity shrank for the second consecutive month.
- The Chinese government announced a plan to increase vaccinations for the elderly, which Beijing claims will be a key factor in helping to reopen the economy.
- Stocks rose in Australia after data suggested that inflation could be slowing.
- Bilibili surged by nearly 13% after announcing better-than-expected revenue for Q3 2022.
Market |
Price |
Move |
S&P Asia 50 |
4,294.17 |
4.41% |
Japan (Nikkei 225) |
27,858.16 |
-0.61% |
South Korea (KOSPI) |
2,442.58 |
0.38% |
China (Hang Seng) |
17,231.20 |
0.15% |
India (SENSEX) |
62,681.84 |
0.28% |
Commodities
Oil prices rose on Tuesday due to expectations that demand for oil will increase as China is expected to ease COVID-19 restrictions.
- Brent crude gained 0.2% and U.S. West Texas Intermediate rose 1.3%.
- Data shows that China and India are purchasing Russian crude at a 40% discount following the embargo from North American and European countries.
- The EU has not yet reached an agreement for a cap on Russian oil prices after Poland, Estonia, Latvia, and Lithuania objected to the previously agreed price per barrel.
Market |
Price |
Move |
Oil (NYSEARCA:OIL) |
29.78 |
1.60% |
Gold (NYSEARCA:GLD) |
162.73 |
0.49% |
Silver (NYSEARCA:SLV) |
19.56 |
1.56% |
Corn (NYSEARCA:CORN) |
26.64 |
0.04% |
Lumber (NASDAQ:WOOD) |
75.19 |
0.84% |
Currency Exchange Rates
The U.S. Dollar rose on Tuesday and Wednesday morning to hit a new one-week high.
- Investors estimate there is a 63.5% chance that the Fed will raise rates by 50 basis points and a 36.5% chance of a 75-basis point increase.
- The Euro and British Pound Sterling rose on the day but fell against the U.S. Dollar.
- The Australian Dollar continues to climb as investors expect China to reopen its economy, which would have a positive impact on the Australian economy.
Market |
Price |
Move |
UK(GBP) |
£0.83 |
0.65% |
Europe (EURO) |
€0.97 |
0.19% |
Canada (Canadian Dollar) |
$1.36 |
1.24% |
Japan (Yen) |
¥138.74 |
-0.45% |
Cryptocurrency
Coinbase wallet plans to end support for Bitcoin Cash, Ethereum Classic, Ripple, and Stellar.
- Phantom, which is currently a Solana-focused wallet, plans to add support for Ethereum and Polygon.
- After Huobi said it will be issuing the new Dominica Coin on Huobi Prime the HT token soared by 15%.
- Crypto prices rose on the day as trade volumes increased.
Market |
Price |
Move |
Bitcoin |
$16,922.70 |
3.06% |
Ethereum |
$1,271.24 |
8.81% |
Litecoin |
$79.03 |
6.75% |
Bitcoin Cash |
$113.86 |
2.48% |
Good trading,
Chris Svorcik
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