Key Market Insights October 21
US Markets
Markets were down on Wednesday, ending the two-day winning streak for U.S. stocks.
- U.S. futures are also down, but all three major indexes are still on track for a positive week.
- Rising treasury yields are largely to blame for the downturn in markets.
- The current 10 Year U.S. Treasury yield is set at 4.14740%
| Market | Price | Move |
| Dow Jones | 30,423.81 | -0.33% |
| S&P 500 | 3,695.16 | -0.67% |
| Nasdaq | 10,680.51 | -0.85% |
| Russell 2000 | 1,725.76 | -1.72% |
Canadian Markets
Annual inflation in Canada reached 6.9% in September, down from 7% in August, Statistics Canada said on Wednesday.
- Economists had estimated a 6.7% inflation rate.
- Consumer prices rose 0.1% from August to September.
- Economists now expect the Bank of Canada to raise interest rates by 75 basis points at its meeting next week.
| Market | Price | Move |
| TSX | 18,674.40 | -0.66% |
European Markets
Stocks in Europe were down slightly as investors reacted to new inflation data.
- The U.K. Consumer Price Index rose 10.1% in September, led by increases in food and energy prices.
- The Bank of England estimates that it would need ten years to unwind the bond-buying program that started a few weeks ago.
- The Stoxx600 was down 0.5%, with losses led by financial stocks. Tech stocks led the gains, jumping by 1.2%.
| Market | Price | Move |
| Euro STOXX 50 | 3,471.24 | 0.21% |
| UK (FTSE 100) | 6,924.99 | -0.17% |
| Germany (DAX) | 12,741.41 | -0.19% |
| France (CAC 40) | 6,040.72 | -0.43% |
Asian Markets
Stocks in Asia were down on Wednesday and early Thursday morning amid fears about the health of the global economy.
- Stocks in Australia lost nearly 1% on Thursday.
- The Chinese Yuan hit a record low against the U.S. Dollar, and the Japanese Yen is at a new 32-year low as currencies in Asia continue to fall due to economic uncertainty.
- Beijing has not yet released the economic data it was scheduled to publish on Tuesday, which has triggered fears about the health of the Chinese economy.
| Market | Price | Move |
| S&P Asia 50 | 3,716.89 | -2.84% |
| Japan (Nikkei 225) | 27,257.38 | 0.37% |
| South Korea (KOSPI) | 2,237.44 | -0.56% |
| China (Hang Seng) | 16,511.28 | -2.38% |
| India (SENSEX) | 59,107.19 | 0.25% |
Commodities
Oil prices were up on Wednesday as supply concerns overrode fears about a potential global recession.
- Brent gained 2.6%, while U.S. West Texas Intermediate rose 3.3%.
- U.S. crude inventories were down by 1.7 million barrels last week, whereas analysts expected an increase of 1.4 million barrels.
- The U.S. government’s strategic crude stockpile is currently at its lowest level since May 1984.
| Market | Price | Move |
| Oil (NYSEARCA:OIL) | 30.58 | 1.90% |
| Gold (NYSEARCA:GLD) | 151.69 | -1.34% |
| Silver (NYSEARCA:SLV) | 17.01 | -1.28% |
| Corn (NYSEARCA:CORN) | 27.10 | -0.37% |
| Lumber (NASDAQ:WOOD) | 68.81 | -1.88% |
Currency Exchange Rates
The U.S. Dollar had a strong performance on Wednesday, rebounding from a two-week low a day earlier.
- The dollar gained 0.9% against the top six fiat currencies.
- The British Pound fell over 1% after new data showed that U.K. annual inflation reached a 40-year high in September.
- The Bank of Japan is still weighing up its options for intervening in the markets to prop up the yen. Policymakers could make a decision next week.
| Market | Price | Move |
| UK(GBP) | £0.89 | 1.20% |
| Europe (EURO) | €1.02 | 0.76% |
| Canada (Canadian Dollar) | $1.38 | 0.38% |
| Japan (Yen) | ¥149.84 | 0.58% |
Cryptocurrency
Crypto markets were down on Wednesday again and the trade volume of the major currencies has now declined for two weeks.
- Ethereum is now below $1,300 as it continues to fall after the Merge.
- Bitcoin seems to have settled into a price territory between $19,000 and $21,000.
- Terra has revealed a new four-year plan to rebuild LUNA.
| Market | Price | Move |
| Bitcoin | $19,138.20 | -2.12% |
| Ethereum | $1,285.60 | -2.01% |
| Litecoin | $51.13 | -1.58% |
| Bitcoin Cash | $106.12 | -4.05% |
Good trading,
Chris Svorcik

