US Markets
The Dow Jones rose on Friday, while the S&P and the Nasdaq were down on the half-day of trading.
- All three major indexes rose on the week. The Dow gained 1.78%, S&P 500 climbed 1.53%, and the Nasdaq was up 0.72%.
- Earnings have been solid, and consumer spending hasn’t dropped, which has helped increase investor confidence.
- The current 10 Year U.S. Treasury yield is set at 3.70010%
Market |
Price |
Move |
Dow Jones |
34,347.03 |
0.45% |
S&P 500 |
4,026.12 |
-0.03% |
Nasdaq |
11,226.36 |
-0.52% |
Russell 2000 |
1,869.19 |
0.30% |
Canadian Markets
Data from Ratehub.ca shows that homebuyers in 2022 are paying up to 250% more in interest during the first year of their mortgage than in 2021.
- In October 2021, a homebuyer with a $600,000 mortgage would have paid an average of $12,310 in interest in the first 12 months.
- In October 2022, a homebuyer with a $600,000 mortgage would have paid an average of $30,819 in interest in the first 12 months.
- The average house price in Canada has decreased by 9.9% from October 2021 to October 2022.
- According to Canada Mortgage and Housing Corporation, the most common mortgage continues to be the five-year fixed rate with 25 years of amortization.
Market |
Price |
Move |
TSX |
20,383.77 |
0.20% |
European Markets
European markets were flat on Friday following an upward trend in the first four days of the week.
- The Stoxx 600 lost 0.25% on Friday after gaining at the start of the session before a downturn.
- The Stoxx 600 had its sixth consecutive winning week and also hit a three-month high last week.
- Credit Suisse shares are at an all-time low after losing more than 5%.
Market |
Price |
Move |
Euro STOXX 50 |
3,962.41 |
0.01% |
UK (FTSE 100) |
7,486.67 |
0.27% |
Germany (DAX) |
14,541.38 |
0.01% |
France (CAC 40) |
6,712.48 |
0.08% |
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Asian Markets
Shares in Asia were down on Friday after a volatile week of trading.
- Casino stocks in China saw losses. MGM China fell by 4%, Mynn Macau lost 2.5%, Sands China dropped by 3%, and SJM Holdings declined by 2.7%.
- Technology stocks in Hong Kong were also down as Tencent fell by 3%, Meituan lost 3.17%, and Bilibili dropped 4.36%.
- Japan’s inflation rate hit a 40-year high after consumer prices rose by 3.6% in November on an annualized basis.
Market |
Price |
Move |
S&P Asia 50 |
4,213.96 |
-0.51% |
Japan (Nikkei 225) |
28,283.03 |
-0.35% |
South Korea (KOSPI) |
2,437.86 |
-0.14% |
China (Hang Seng) |
17,573.58 |
-0.49% |
India (SENSEX) |
62,293.64 |
0.03% |
Commodities
Oil prices were down on Friday due to continuing concerns about demand from China, where COVID-19 cases are increasing.
- Brent crude futures lost 1.6% and U.S. West Texas Intermediate crude fell 1.7%.
- On the week, the benchmark crudes lost 3.8% and 3.9%, respectively.
- The G7 and EU have been discussing putting a price cap on Russian oil at between $65 and $70 per barrel.
Market |
Price |
Move |
Oil (NYSEARCA:OIL) |
29.08 |
-0.86% |
Gold (NYSEARCA:GLD) |
163.22 |
0.09% |
Silver (NYSEARCA:SLV) |
19.72 |
-0.45% |
Corn (NYSEARCA:CORN) |
26.64 |
0.91% |
Lumber (NASDAQ:WOOD) |
76.55 |
0.03% |
Currency Exchange Rates
The U.S. Dollar increased slightly on Friday after falling a day earlier.
- China’s central bank said it would cut the amount of reserves banks had to hold.
- The Chinese Yuan lost over 0.4% following the news and has been negative for two consecutive weeks.
- The Japanese Yen lost 0.5% after data showed that Japan’s annual inflation hit a 40-year high.
Market |
Price |
Move |
UK(GBP) |
£0.83 |
0.17% |
Europe (EURO) |
€0.96 |
-0.06% |
Canada (Canadian Dollar) |
$1.34 |
0.47% |
Japan (Yen) |
¥139.13 |
0.38% |
Cryptocurrency
Bitcoin has been holding its price since Wednesday despite suppressed trading volume in the U.S.
- Brendan Blumer, the Founder of Block.One has purchased a 9.3% stake in Silvergate Capital, making him the largest shareholder in the company.
- Incoming Kraken CEO Dave Ripley said he believes that self-custody and regulation will be the future of the crypto industry.
- Flashbots, an Ethereum R&D firm, is building a plug-and-play solution to change how validators earn MEV.
Market |
Price |
Move |
Bitcoin |
$16,475.20 |
-0.67% |
Ethereum |
$1,205.29 |
0.58% |
Litecoin |
$76.19 |
2.90% |
Bitcoin Cash |
$112.24 |
-2.98% |
Good trading,
Chris Svorcik
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