US Markets
The S&P 500 was down on Monday, hitting a new low for 2022 as the negative momentum from last week carried forward over the weekend.
- The Dow Jones officially moved into a bear market as it is now down 20.4% from its record high on Jan. 4.
- Match Group fell 1.2% to reach its lowest price since it IPOed in 2015.
- The current 10 Year U.S. Treasury yield is set at 3.92650%
Market |
Price |
Move |
Dow Jones |
29,260.81 |
-1.11% |
S&P 500 |
3,655.04 |
-1.03% |
Nasdaq |
10,802.92 |
-0.60% |
Russell 2000 |
1,655.88 |
-1.41% |
Canadian Markets
The government of Canada said it will remove all COVID-19-related border restrictions starting Saturday, Oct. 1.
- This includes all vaccination, testing, and quarantine requirements for international travelers, as well as mask mandates on international and domestic flights and trains.
- The government will just let the current measures expire at the end of September but clarified that it may need to impose restrictions again if required.
- The government is also removing all requirements to monitor and report COVID-19 symptoms.
Market |
Price |
Move |
TSX |
18,327.04 |
-0.83% |
European Markets
Stocks in Europe were down on Monday following a volatile day of trading.
- The Stoxx 600 fell 0.8% early in the day before recovering half of the losses to finish the day down 0.4%.
- Utilities were the worst-performing stocks, losing 2.3%, while travel stocks fell 2%.
- Housebuilding stocks fell in the U.K. as investors expect a decline in the real estate sector. Vistry Group, Bellway, Taylor Wimpey, and Persimmon were all down more than 6% on the day.
Market |
Price |
Move |
Euro STOXX 50 |
3,342.97 |
-0.17% |
UK (FTSE 100) |
7,020.95 |
0.03% |
Germany (DAX) |
12,227.92 |
-0.46% |
France (CAC 40) |
5,769.39 |
-0.24% |
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Asian Markets
Stocks in Asia were down considerably as the negative sentiment from the past week continues to influence investors.
- Major news is expected later this week, with the Reserve Bank of India announcing its monetary policy and China releasing new factory data.
- The Hang Seng Tech Index went against the general markets, gaining 1.61%, even as the rest of the Hang Seng fell.
- Gambling stocks in Macao were up as Hong Kong eased its quarantine policies for travelers.
Market |
Price |
Move |
S&P Asia 50 |
3,388.65 |
-0.99% |
Japan (Nikkei 225) |
26,431.55 |
-2.66% |
South Korea (KOSPI) |
2,220.94 |
-3.02% |
China (Hang Seng) |
17,855.14 |
-0.44% |
India (SENSEX) |
57,145.22 |
-1.64% |
Commodities
Commodities were down on Monday as investors fear that a global recession is increasingly likely.
- Brent crude was down 2.1% on the day, while U.S. West Texas Intermediate lost 2.3%. This comes after a 5% decline for both benchmark prices over the weekend.
- Steve Hanke of Johns Hopkins University believes there is an 80% chance of a recession in the short term.
- Gold, Silver, Platinum, and Palladium were all down on Monday.
Market |
Price |
Move |
Oil (NYSEARCA:OIL) |
27.38 |
-3.14% |
Gold (NYSEARCA:GLD) |
151.23 |
-1.16% |
Silver (NYSEARCA:SLV) |
16.92 |
-2.53% |
Corn (NYSEARCA:CORN) |
26.61 |
-1.11% |
Lumber (NASDAQ:WOOD) |
64.33 |
-2.20% |
Currency Exchange Rates
The British Pound hit a new record low on Monday after falling 4% during Asian trading hours before rebounding to finish the day down 1.6% when New York markets closed.
- Analysts say that the U.K.’s “Growth Plan” unveiled on Friday will increase debt levels and could put inflationary pressures because it includes additional government spending, as well as lower taxes.
- The U.S. Dollar is at a 20-year high as it continues to climb due to the hawkish tone of the Federal Reserve.
- The South Korean Won has fallen to its 2009 levels, while the Japanese yen continued to gain against the U.S. Dollar.
Market |
Price |
Move |
UK(GBP) |
£0.94 |
1.61% |
Europe (EURO) |
€1.04 |
0.83% |
Canada (Canadian Dollar) |
$1.37 |
1.01% |
Japan (Yen) |
¥144.66 |
0.90% |
Cryptocurrency
Bitcoin was up on Monday, reversing the negative trend last weekend.
- Bitcoin saw an increase in trading volume on Monday, indicating strong support for the $18,000 psychological price point.
- Luna Classic was up 60% after Binance unveiled their burn scheme to deal with the remaining coins from the collapse of Terra.
- Disney has posted a job for a legal counsel to assist in developing NFT and Defi projects in accordance with existing regulations as it expands into Web3.
Market |
Price |
Move |
Bitcoin |
$19,114.90 |
1.01% |
Ethereum |
$1,326.19 |
2.33% |
Litecoin |
$53.03 |
0.91% |
Bitcoin Cash |
$115.35 |
-1.63% |
Good trading,
Chris Svorcik
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