US Markets
Stock futures are up overnight after a strong start to the week for U.S. equities.
- The Consumer Price Index report will be released later today and will significantly impact markets this week.
- Investors’ confidence has largely been supported by the belief that inflation has peaked, any indication that this is not the case will have a negative impact on U.S. equities.
- The current 10 Year U.S. Treasury yield is set at 3.34350%
Market |
Price |
Move |
Dow Jones |
32,381.34 |
0.71% |
S&P 500 |
4,1100.41 |
1.06% |
Nasdaq |
12,266.41 |
1.27% |
Russell 2000 |
1,906.09 |
1.23% |
Canadian Markets
Data from Statistics Canada shows that household debt continues to increase in the country.
- On average, Canadians owe $1.82 for every $1.00 disposable income they earn.
- Debt ratios are also getting worse as the total value of household financial assets fell by a record of $530.6B last quarter while household worth decreased by $990.1B, or 6.1%.
- In short, Canadians are loaning more money against assets that are declining in value, creating a highly dangerous financial situation.
Market |
Price |
Move |
TSX |
19,987.23 |
1.08% |
European Markets
Stocks in Europe were up on Monday amid expectations that the CPI report out today will confirm that U.S. inflation has peaked.
- Retail stocks gained 4.5% on the day, leading the Stoxx 600, which was up 1.8%.
- All sectors of the market finished in the green.
- Bridgepoint Group led the Stoxx 600 as the British private equity firm gained 9%.
Market |
Price |
Move |
Euro STOXX 50 |
3,646.51 |
2.14% |
UK (FTSE 100) |
7,473.03 |
1.66% |
Germany (DAX) |
13,402.27 |
2.40% |
France (CAC 40) |
6,333.59 |
1.95% |
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Asian Markets
Stocks rose on Tuesday morning in Asia as investors awaited the August CPI figures in the U.S.
- Markets in Mainland China, Hong Kong, and South Korea were closed on Monday for a holiday.
- South Korean stocks gained nearly 2% in their first hour of Tuesday.
- The U.S. inflation rate for August is expected to come in at 8%, down from 8.5% in July.
Market |
Price |
Move |
S&P Asia 50 |
4,415.28 |
1.01% |
Japan (Nikkei 225) |
28,553.22 |
0.04% |
South Korea (KOSPI) |
2,428.99 |
1.88% |
China (Hang Seng) |
19,362.25 |
2.69% |
India (SENSEX) |
60,115.13 |
0.54% |
Commodities
Oil prices were up on Monday amid concerns of decreasing supply due to a forthcoming EU embargo on Russian oil shipments and Iranian nuclear talks falling through.
- Brent crude gained 1.25%, while U.S. West Texas Intermediate crude rose 1.1%.
- China’s annual oil demand is expected to decrease in 2022, which would be the first such fall in over two decades.
- The rising value of the U.S. Dollar is also a concern in the market since it could dampen demand for oil.
Market |
Price |
Move |
Oil (NYSEARCA:OIL) |
31.22 |
1.93% |
Gold (NYSEARCA:GLD) |
160.63 |
0.51% |
Silver (NYSEARCA:SLV) |
18.17 |
4.91% |
Corn (NYSEARCA:CORN) |
27.60 |
1.25% |
Lumber (NASDAQ:WOOD) |
77.04 |
1.85% |
Currency Exchange Rates
The U.S. Dollar fell to its lowest value in two weeks on Monday ahead of the CPI data being released today.
- The Euro hit a three-week high amid expectations that the European Central Bank will raise interest rates again.
- The U.S. Dollar Index was down 0.63% and is currently at 108.31.
- The Australian Dollar is at $0.689 after gaining 0.7% on Monday.
Market |
Price |
Move |
UK(GBP) |
£0.86 |
-0.81% |
Europe (EURO) |
€0.99 |
0.18% |
Canada (Canadian Dollar) |
$1.30 |
-0.58% |
Japan (Yen) |
¥142.54 |
0.02% |
Cryptocurrency
Bitcoin rose to $22,000 while other cryptocurrencies were down on Monday.
- Ethereum’s Merge is scheduled for this week and will move the network from proof-of-work to proof-of-stake.
- The market is currently awaiting the Federal Reserve’s monetary policy announcement next week. Another rate increase would negatively impact cryptocurrency markets.
- Bitcoin is up 17% from the 3-month low it hit last Wednesday.
Market |
Price |
Move |
Bitcoin |
$22,259.60 |
2.68% |
Ethereum |
$1,689.69 |
-4.22% |
Litecoin |
$60.79 |
–2.39% |
Bitcoin Cash |
$127.79 |
-3.66% |
Good trading,
Chris Svorcik
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