US Markets
Stock futures were flat overnight after markets rose on Monday.
- General Electric, Johnson & Johnson, and Verizon will all report earnings this morning, while Microsoft will post its results this afternoon.
- Chip makers including Nvidia, which gained nearly 7.6%, and VanEck Semiconductor ETF, which rose almost 5%, led gains on the Nasdaq.
- The current 10 Year US Treasury yield is set at 3.52090%
Market |
Price |
Move |
Dow Jones |
33,375.49 |
1.00% |
S&P 500 |
3,972.61 |
1.89% |
Nasdaq |
11,140.44 |
2.66% |
Russell 2000 |
1,867.34 |
1.69% |
Canadian Markets
Urbanation, a real estate consulting firm, has released a report looking into Toronto’s rental market last year.
- Despite a decline in housing prices in 2022, rent increased by 16.9% in the city, whereas it saw a 0.5% decrease in 2021.
- The increase is mainly due to immigrants and foreign students moving to the city once pandemic-related restrictions were lifted. Rising interest rates led to a decline in first-time homebuyers, which increased the demand for rentals.
- The average monthly rental price for a condo in Toronto was $2,752 at the end of last year, $391 more than in December 2021.
- Rental constructions decreased by 54% in 2022, showing that supply is unlikely to increase in the short term.
Market |
Price |
Move |
TSX |
20,503.21 |
0.80% |
European Markets
European markets were up slightly on Friday after falling on Thursday following a strong start to the week that saw the FTSE hit a new high.
- The Stoxx 600 rose 0.35% on Friday, led by travel stocks, which gained 1.2%.
- For the week, the Stoxx 600 lost 0.3%, with most of those losses coming during a sell-off on Thursday in response to weak corporate earnings and economic data from the U.S.
- Cellnex, a Spanish telecom company, was the best-performing stock in the Stoxx 600 on Friday, gaining 8.9%.
- Close Brothers, a British banking group, was the worst-performing stock, falling 10.3%.
Market |
Price |
Move |
Euro STOXX 50 |
4,119.90 |
0.63% |
UK (FTSE 100) |
7,770.59 |
0.30% |
Germany (DAX) |
15,033.56 |
0.76% |
France (CAC 40) |
6,995.99 |
0.63% |
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Asian Markets
Stocks In Asia were up on Friday despite Japan’s inflation hitting a 41-year high.
- Singapore’s tourism board said that despite China’s reopening, the number of Chinese tourists visiting the island country is unlikely to return to pre-pandemic levels this year.
- Stocks in China continue to have positive momentum following the country’s lifting of most Covid restrictions, with the Hang Seng, Shanghai Composite, and Shenzhen Component all rising last week.
- The Nikkei rose on Friday after new data showed that consumer prices rose by 4% in December on an annualized basis, a 41-year high. The index fell on Thursday in response to the Bank of Japan unexpectedly maintaining its monetary policy.
Market |
Price |
Move |
S&P Asia 50 |
4,984.70 |
1.35% |
Japan (Nikkei 225) |
26,553.53 |
0.56% |
South Korea (KOSPI) |
2,395.26 |
0.63% |
China (Hang Seng) |
22,044.65 |
1.82% |
India (SENSEX) |
60,621.77 |
-0.39% |
Commodities
Oil prices rose on Friday and have now increased for two consecutive weeks.
- Both Brent crude and U.S. West Texas Intermediate gained just over 1% on the day.
- The positive outlook created by China’s removing Covid restrictions and reopening its economy continues to outweigh concerns over the global economy’s health.
- The U.S. oil rig count is at its lowest since November, which pushed prices up as it suggests a decline in domestic supply.
Market |
Price |
Move |
Oil (NYSEARCA:OIL) |
28.10 |
1.21% |
Gold (NYSEARCA:GLD) |
173.71 |
-0.33% |
Silver (NYSEARCA:SLV) |
21.92 |
0.27% |
Corn (NYSEARCA:CORN) |
25.93 |
0.00% |
Lumber (NASDAQ:WOOD) |
75.43 |
0.78% |
Currency Exchange Rates
The U.S. Dollar was slightly volatile on Monday as investors reacted to movements in international markets.
- The USD hit a nine-month low against the Euro mid-day before bouncing back to finish the day up against the Euro.
- The British pound was down on Monday after hitting a seven-month high against the USD earlier in the day.
- The Yen continues to fall after the Bank of Japan decided to keep its ultra-low rates last week.
Market |
Price |
Move |
UK(GBP) |
£0.81 |
-0.32% |
Europe (EURO) |
€0.92 |
-0.73% |
Canada (Canadian Dollar) |
$1.34 |
-0.75% |
Japan (Yen) |
¥129.56 |
0.76% |
Cryptocurrency
Crypto markets were flat on Monday, but FTT rose 8%.
- Gemini said it will cut another 10% of its staff after announcing layoffs in June and July of last year that left the company with around 700 workers by the end of 2022.
- Porsche’s NFT collection is failing to generate much interest as minting begins.
- A Uniswap poll showed that 80% of its customers support a move to the BNB chain.
Market |
Price |
Move |
Bitcoin |
$22,643.90 |
9.53% |
Ethereum |
$1,663.62 |
7.25% |
Litecoin |
$90.24 |
7.14% |
Bitcoin Cash |
$128.30 |
8.11% |
Good trading,
Chris Svorcik
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