US Markets Stocks soared Wednesday as the Federal Reserve announced another interest rate increase of 75 basis points. - Stock futures are down overnight, with investors retreating slightly after the significant gains.
- Ford shares are up over 5% after the carmaker announced better-than-expected earnings.
- Meta shares are down after the tech giant missed its earnings expectations.
- The current 10 Year U.S. Treasury yield is set at 2.77850%
| Dow Jones | 32,197.59 | 1.37% | | S&P 500 | 4,023.61 | 2.62% | | Nasdaq | 12,032.42 | 4.06% | | Russell 2000 | 1,848.34 | 2.39% | *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.
| |
 A message from SQUARE Raise your standards, lower your costs. Square will work with you to find the best rate structure for your payment volume, average transaction size, and other business needs. And what’s more, Square offers solutions that scale with your business – from deeper data to better customer relationships. Payments, customers, staff—it’s all connected with Square. Add more to your business, or scale back where you need to, so you can focus on shaping the bigger picture. Get tools that all move in sync, so your business can too. New US Inside Readers exclusively get: The flexible, all-in-one solution trusted by millions of business owners with free processing on up to $1,000 in credit card transactions for the first 180 days. Afterwards, you pay the standard 2.6% + $0.10 per swipe for all major credit cards. Sign up for Square today
| |
Canadian Markets Stocks in Canada were up as investors reacted positively to the U.S. Federal Reserve's interest rate decision. - Shopify led markets, gaining 11% on the day after CEO Tobi Lutke announced his long-term plan for the company.
- Shopify laid off 10% of its workforce Tuesday and reported a loss of $1.2B on Wednesday.
- Canadian National Railway was up 4% on Wednesday after beating its earnings expectations.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
| |
 A message from FIREWORK Gen Z CAC is high key guap, no cap. When it comes to Gen Z, the traditional rules around engagement, content, selling, and advertising don’t apply. Brands and marketers need to learn a new language. But it’s more than that. To feel authentic, they need to nail the dialect, too. That’s why Firework has rolled out Gen Z Labs, a brand new initiative that taps into that unique subculture and help marketers and brands connect with this next generation of consumers. Gen Z: - Makes up 30% of the population
- Is rapidly entering the workforce
- Accounts for almost $400bn in spending power and counting
In partnership with leading Gen Z brands like Grande Cosmetics and That’s It, Firework has created an interactive experience for marketers of all stripes to help their brand find relevance with Zoomers. Start Here
| |
European Markets European stocks were up on Wednesday ahead of the Federal Reserve's announcement. Markets are expected to rise on Thursday amid positive sentiment following the Fed's rate high. - The Stoxx 600 finished up 0.5% on the day.
- Travel and leisure stocks led markets, gaining 3%.
- Germany's consumer sentiment is projected to fall to a record low in August as Europe continues to deal directly with a drop in natural gas imports supply chain constraints and the war in Ukraine.
| Euro STOXX 50 | 3,607.78 | 0.91% | | UK (FTSE 100) | 7,348.23 | 0.57% | | Germany (DAX) | 13,166.38 | 0.53% | | France (CAC 40) | 6,257.94 | 0.75% | *European stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.
| |
Asian Markets Stocks in Asia are mixed on Thursday as investors react to the Federal Reserve's interest rate hike. - Stocks in Thailand are closed for a national holiday.
- Stocks in Hong Kong are lower, while shares in mainland China, including the Shanghai Composite and Shenzhen Component, are up.
- New data from Australia shows that retail sales increased by 0.2% in June. This is less than the 0.5% expected by economists and the 0.9% growth recorded in the previous month.
- Samsung shares are flat despite the company beating its Q2 earnings estimates.
| S&P Asia 50 | 4,707.22 | -0.54% | | Japan (Nikkei 225) | 27,804.21 | 0.32% | | South Korea (KOSPI) | 2,436.96 | 0.89% | | China (Hang Seng) | 20,572.10 | -0.47% | | India (SENSEX) | 56,267.55 | 0.81% | *Asian stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.
| |
Commodities Oil prices were up on Thursday for a fourth consecutive day as commodities rose following the Federal Reserve's announcement. - Brent crude was up 0.4%, while US West Texas Intermediate crude was up 0.5%.
- According to the Energy Information Administration, U.S. gasoline demand was up 8.5% last week.
- Russia cut gas exports to Europe, with the Nord Stream 1 pipeline now operating at just 20% capacity.
| Oil (NYSEARCA:OIL) | 33.46 | 3.73% | | Gold (NYSEARCA:GLD) | 161.67 | 1.02% | | Silver (NYSEARCA:SLV) | 17.60 | 2.56% | | Corn (NYSEARCA:CORN) | 24.33 | 0.83% | | Lumber (NASDAQ:WOOD) | 77.80 | 3.20% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
| |
Currency Exchange Rates The U.S. Dollar is near a three-week low after it fell following the Federal Reserve's announcement on Wednesday. - The U.S. Dollar Index rose in early morning trading in Asia on Thursday and is currently at around 106.54.
- The Euro was down overnight after rising 0.82% on Wednesday.
- The UK Pound Sterling was also down overnight after rising 1.06% yesterday.
| UK(GBP) | £0.82 | -0.89% | | Europe (EURO) | €0.98 | 0.14% | | Canada (Canadian Dollar) | $1.28 | -0.17% | | Japan (Yen) | ¥135.38 | -0.76% | *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.
| |
Cryptocurrency Crypto markets soared in early trading on Wednesday before stabilizing following the Fed's announcement. - Alameda Research announced that it had led a $3.25M seed round for Trustless media to allow creators to tokenize TV productions using NFTs.
- Unstoppable Domains has become a unicorn after raising a $65M Series A.
- Crystal Blockchain says that the majority of crime in the crypto space comes from DeFi projects.
| Bitcoin | $23,137.90 | 8.58% | | Ethereum | $1,647.74 | 14.11% | | Litecoin | $60.00 | 11.32% | | Bitcoin Cash | $135.99 | 15.22% | *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.
| |
 |  | 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. | |
| |
| |
