US Markets
Futures were flat overnight after a market rally came to an end on Wednesday, when stocks suffered minor losses but were mostly stable.
- Data from ADP showed that the U.S. economy added 208,000 jobs to the private sector, beating expectations of 200,000 new jobs.
- Investors are in a challenging position as they gauge the health of the U.S. economy. Some think the Federal Reserve’s rate increases are causing a recession, while others believe the rate hikes are lowering inflation with a minimal decline in economic activity.
- The current 10 Year U.S. Treasury yield is set at 3.75690%
Market |
Price |
Move |
Dow Jones |
30,273.87 |
-0.14% |
S&P 500 |
3,783.28 |
-0.56% |
Nasdaq |
11,148.64 |
-0.10% |
Russell 2000 |
1,762.69 |
-0.74% |
Canadian Markets
Starting today, consumers in Canada could face an increase in costs as merchants will be allowed to charge credit card fees.
- A recent survey found that 19% of businesses plan to pass on the fees to consumers.
- Credit card fees usually are 1.5-2.5% of the total sale price for merchants.
- Telus, the third largest telecommunications company in the country, has submitted a filing with the Canadian Radio-television Telecommunications Commission seeking their approval to charge consumers an additional 1.5% on their monthly bills if they pay by Visa or Mastercard.
Market |
Price |
Move |
TSX |
19,235.09 |
-0.70% |
European Markets
Stocks in Europe were down on Wednesday as the positive momentum faded in international markets.
- Oil and Gas stocks were up on the day despite the negative sentiment, gaining almost 1%.
- The Stoxx 600 was down 1%, with retail stocks losing 3.2%.
- GN Store Nord, a Danish hearing aid manufacturer, was the worst-performing stock, falling 7.5%.
Market |
Price |
Move |
Euro STOXX 50 |
3,447.72 |
-1.05% |
UK (FTSE 100) |
7,052.62 |
-1.48% |
Germany (DAX) |
12,517.18 |
-1.21% |
France (CAC 40) |
5,985.46 |
-0.90% |
ATHENA EA
Award Winning Momentum TradingPromo
Presented by
Chris Svorcik
Verified on:
Asian Markets
Shares in Asia rose on Wednesday as they benefited from positive U.S. momentum from Tuesday.
- The Hang Seng Tech Index gained 7.5%, helping the Hang Seng close up by almost 6%.
- Stocks in Australia gained 1.74% as Australian markets continue to have positive momentum.
- Markets in mainland China and India were closed on Wednesday for holidays.
Market |
Price |
Move |
S&P Asia 50 |
4,058.59 |
4.92% |
Japan (Nikkei 225) |
27,120.53 |
0.48% |
South Korea (KOSPI) |
2,215.22 |
0.26% |
China (Hang Seng) |
12,087.97 |
5.90% |
India (SENSEX) |
58,065.47 |
2.25% |
Commodities
Oil prices rose after OPEC+ members agreed to cut oil production.
- The decrease comes despite comments from the U.S. government that OPEC+ should increase oil output to help the global economy recover and fight inflation.
- The cuts will be between 500,000 and 2 million barrels per day.
- Oil prices are down to $80 from highs of $120 earlier in the summer.
Market |
Price |
Move |
Oil (NYSEARCA:OIL) |
31.12 |
2.17% |
Gold (NYSEARCA:GLD) |
159.81 |
-0.54% |
Silver (NYSEARCA:SLV) |
18.99 |
-1.91% |
Corn (NYSEARCA:CORN) |
27.32 |
0.33% |
Lumber (NASDAQ:WOOD) |
68.65 |
-1.18% |
Currency Exchange Rates
The U.S. Dollar was up slightly as markets in Europe and overseas declined.
- The U.S. Dollar gained 1% against the six top fiat currencies.
- The British Pound fell after hours as the markets reacted negatively to a speech by U.K. PM Liz Truss.
- Fed Presidents have started to take a less hawkish tone when discussing future interest rate hikes.
Market |
Price |
Move |
UK(GBP) |
£0.88 |
0.08% |
Europe (EURO) |
€1.01 |
-0.56% |
Canada (Canadian Dollar) |
$1.36 |
-0.10% |
Japan (Yen) |
¥144.53 |
0.02% |
Cryptocurrency
Cryptocurrency prices were mostly flat on Wednesday as investors continued to evaluate the health of the U.S. economy.
- Mythical Games has founded Mythos Foundation to help support Decentralized Web3 Gaming.
- GMX’s token has surged after being listed on Binance. GMX is a decentralized exchange.
- Trading volume continues to increase in Bitcoin, which seems to indicate that investors are looking for a sign to either short or support the market.
Market |
Price |
Move |
Bitcoin |
$20,151.10 |
2.64% |
Ethereum |
$1,353.20 |
-0.65% |
Litecoin |
$54.42 |
-1.63% |
Bitcoin Cash |
$122.30 |
5.22% |
Good trading,
Chris Svorcik
Leave a Reply