Key Market Insights September 14

8 min read

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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