US Markets U.S. stocks were flat overnight after a negative trading day on Monday to start the week. - Gap shares were down over 3% overnight, after the company announced that President and CEO Sonia Syngal was stepping down.
- June's Consumer Price Index will be reported on Wednesday. Economists expect the figure to rise to 8.8%, from 8.6% in May.
- The current 10 Year U.S. Treasury yield is set at 2.98630%
| Dow Jones | 31,173.84 | -0.52% | | S&P 500 | 3,854.43 | -1.15% | | Nasdaq | 11,372.60 | -2.26% | | Russell 2000 | 1,732.01 | -2.11% | *Stock Market data as of the last closing bell. Data received directly from the references indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.
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Canadian Markets New data shows that 27% of Canadians have cut back on essentials due to the rising costs of food, utilities, and housing. - 37% report having replaced their everyday purchases with cheaper alternatives.
- 46% have cut back on non-essentials such as restaurants, nights out, entertainment, and vacations.
- 60% say that they are already feeling the impact of higher interest rates on their day-to-day lives.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
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European Markets European stocks were down on Monday as investors prepared for Wednesday's release of new U.S. inflation data. - The Stoxx 600 was down 0.5% on the day. Automotive stocks led losses with a 2.7% drop.
- Utility stocks were up 1.2% on the day, the best performing sector in Europe.
- Uniper was down 15%, tailing the Stoxx 600 amid a dispute between Germany and Finland over the cost of bailing out the gas company.
| Euro STOXX 50 | 3,471.69 | -0.99% | | UK (FTSE 100) | 7,196.59 | 0.00% | | Germany (DAX) | 12,832.44 | -1.40% | | France (CAC 40) | 5,996.30 | -0.61% | *European stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.
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Asian Markets Shares in Asia are down on Tuesday following the negative trading sentiment in Europe and North America on Monday. - Toyota said it plans to extend the suspension of a production line at its Motomachi plant to investigate what led to a recall of one of its models.
- Nio shares were down 9% overnight due to concerns about the spread of Covid in China.
- Stocks in Australia are up 0.29%
| S&P Asia 50 | 4,651.12 | -2.85% | | Japan (Nikkei 225) | 26,433.44 | -1.41% | | South Korea (KOSPI) | 2,323.21 | -0.73% | | China (Hang Seng) | 21,124.20 | -2.77% | | India (SENSEX) | 54,395.23 | -0.16% | *Asian stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.
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Commodities Oil prices were flat on Monday as markets balanced tightening supply with fears of lower demand due to rising Covid cases. - West Texas Intermediate crude was down 0.67% on the day and finished at $104.09, while Brent crude was up 0.07% and finished at $107.10.
- There are concerns about the continued use of the Caspian Pipeline Consortium, which carries 1% of all global oil, as Russian courts examine suspending its operations.
| Oil (NYSEARCA:OIL) | 33.26 | -0.27% | | Gold (NYSEARCA:GLD) | 161.43 | -0.54% | | Silver (NYSEARCA:SLV) | 17.58 | -1.18% | | Corn (NYSEARCA:CORN) | 25.07 | -0.40% | | Lumber (NASDAQ:WOOD) | 73.86 | -1.65% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
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Currency Exchange Rates The British pound hit a two-year low on Monday as investors sold off the currency due to uncertainty regarding the identity of the next Prime Minister. - The U.K. economy is facing uncertainty due to high inflation, recession risks, the Brexit fallout, and the political upheavals surrounding the resignation of Boris Johnson earlier this month.
- The Pound was weaker against the U.S. Dollar and the Euro on the day.
- GDP and inflation data for the U.K. are due later this week.
| UK(GBP) | £0.84 | 1.23% | | Europe (EURO) | €1.00 | 1.53% | | Canada (Canadian Dollar) | $1.30 | 0.62% | | Japan (Yen) | ¥137.26 | 0.70% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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Cryptocurrency Bitcoin was down again on Monday, losing the key psychological threshold of $20,000. - Terra announced that over 48 projects previously on the Terra network are moving to Polygon.
- A Free-to-Mint Saudi Arabia-themed NFT collection made $7.7M in sales last weekend, its opening weekend.
- KuCoin announced plans to hire 300 new workers, denying earlier reports that it was laying off employees.
| Bitcoin | $19,863.40 | -4.73% | | Ethereum | $1,087.38 | -6.89% | | Litecoin | $48.73 | -6.45% | | Bitcoin Cash | $100.43 | -9.82% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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 |  | Liam Gill is a founder, lawyer and investor.
He previously founded Fumarii Technologies, which became a top 20 ranked cloud computing service (Yahoo Finance! 2019) valued at over $30M. He holds an LLB Laws (UK), MSc Management and Master of Laws and currently practices law at Zargar Lawyers + Business Strategists in Vancouver, Canada.
|   | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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