Key Market Insights October 19

8 min read

US Markets

Stock futures were up overnight after a very strong day on Wall Street.

  • Amazon, Meta, and Microsoft led the recovery of technology stocks.
  • Banks were also up as they reported higher earnings. Bank of America gained over 6% and New York Mellon rose over 5%.
  • The current 10 Year U.S. Treasury yield is set at 3.99520%
Market Price Move
Dow Jones 30,185.82 1.86%
S&P 500 3,677.95 2.65%
Nasdaq 10,675.80 3.43%
Russell 2000 1,735.75 3.17%

 

Canadian Markets

Business sentiment in Canada is near its lowest point since the start of the pandemic.

  • The Bank of Canada has lowered its Q3 2022 business growth forecast to 1.69%, from the 4.87% it previously predicted.
  • The Bank of Canada is still expected to raise interest rates in October and November.
  • Despite the negative outlook, 40% of workers expect a more than 4% raise in the next year.
Market Price Move
TSX 18,621.02 1.61%

 

European Markets

European markets also rose on Monday as investors continued to react to the changes in the U.K. government’s policy.

  • After being named Chancellor of the Exchequer last week, Jeremy Hunt cancelled almost all the policies announced in the first budget of Prime Minister Liz Truss.
  • The Stoxx600 was up 1.8%, led by the automotive industry, which gained 2.8%.
  • Darktrace surged 13.5% on Monday, leading the Stoxx600.
Market Price Move
Euro STOXX 50 3,441.64 1.77%
UK (FTSE 100) 6,920.24 0.90%
Germany (DAX) 12,649.03 1.70%
France (CAC 40) 6,040.66 1.83%

 

ATHENA EA


#H1
#H4
#Time frames
Award Winning Momentum TradingPromo
Account Growth:
220%
Risk/Reward:
0.36
Platforms:
MT4
Order Now
Historical Drawdown:
30%
Min. Deposit:
50$
Asset Types:
Forex
Presented by
Chris Svorcik
Verified on:

 

Asian Markets

Markets were up on Tuesday after the positive rally on Monday in the U.S. stock markets.

  • Australian stocks were strong, gaining 1.27% ahead of the release of the minutes from the last meeting of the Reserve Bank of Australia.
  • The Japanese markets and yen also increased significantly upon opening.
  • China will be releasing its GDP data today.
Market Price Move
S&P Asia 50 3,759.90 -0.54%
Japan (Nikkei 225) 27,030.11 0.95%
South Korea (KOSPI) 2,238.93 0.87%
China (Hang Seng) 16,860.20 1.49%
India (SENSEX) 58,410.98 0.85%

 

Commodities

Oil prices were flat on Monday as investors felt less pressure from the negative economic data.

  • Brent was down 0.15% and U.S. West Texas Intermediate crude lost 0.06% — both fell more than 6% last week.
  • Despite the plateau, trading volume and market sentiment remain low.
  • Oil supply remains limited as OPEC+ moves forward with its production cuts.
Market Price Move
Oil (NYSEARCA:OIL) 30.43 0.07%
Gold (NYSEARCA:GLD) 152.98 0.29%
Silver (NYSEARCA:SLV) 16.81 1.84%
Corn (NYSEARCA:CORN) 27.60 -1.05%
Lumber (NASDAQ:WOOD) 67.69 3.13%

 

Currency Exchange Rates

Bitcoin was up slightly on Monday as its trade volume returned back to its normal levels after falling over the past two weeks.

  • The broader cryptocurrency market gained ~1.3% on Monday, moving alongside Bitcoin.
  • POLY soared 27% and was one of the best-performing altcoins on the market.
  • The attacker behind the Temple DAO exploit has moved over $2.5M in stolen proceeds to Tornado Cash, which will help anonymize further transactions.
Market Price Move
UK(GBP) £0.88 -0.57%
Europe (EURO) €1.02 -0.94%
Canada (Canadian Dollar) $1.38 -0.69%
Japan (Yen) ¥149.15 0.34%

 

Cryptocurrency

Bitcoin was up slightly on Monday as its trade volume returned back to its normal levels after falling over the past two weeks.

  • The broader cryptocurrency market gained ~1.3% on Monday, moving alongside Bitcoin.
  • POLY soared 27% and was one of the best-performing altcoins on the market.
  • The attacker behind the Temple DAO exploit has moved over $2.5M in stolen proceeds to Tornado Cash, which will help anonymize further transactions.
Market Price Move
Bitcoin $19,562.10 1.51%
Ethereum $1,326.88 -0.35%
Litecoin $51.75 -0.17%
Bitcoin Cash $109.81 -0.44%

 

Good trading,
Chris Svorcik

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of
X