US Markets Stock futures were flat overnight after markets saw further declines on Tuesday, extending the current losing streak to three days. - Chewy shares fell nearly 10% after hours, when the company lowered its earnings forecast for the rest of 2022.
- All 11 sectors in the S&P 500 were down on Tuesday.
- Losses were led by energy and utility companies.
- The current 10 Year U.S. Treasury yield is set at 3.12120%
| Dow Jones | 31,790.87 | -0.96% | | S&P 500 | 3,986.16 | -1.10% | | Nasdaq | 11,883.14 | -1.12% | | Russell 2000 | 1,855.59 | -1.45% | *Stock Market data as of the last closing bell. Data received directly from the reference indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.
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Canadian Markets Bank of Montreal on Tuesday said that it missed its revenue target for the third quarter due to a decrease in loans taken by consumers and a slump in its capital markets division. - Bank of Montreal's net income fell 40% from Q3 2021 to Q3 2022.
- Earnings per share were below expectations, coming in at $3.09.
- While consumer loans fell, commercial loans were up by 16% year over year.
*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 mostly down on Tuesday despite a rise in German markets. - The Stoxx 600 fell 0.7% on the day. The index had climbed nearly 1% earlier in the session.
- Basic resource stocks were down 3%, leading the losses in the market.
- Goldman Sachs predicts that the UK's annual inflation rate could hit 22.4% in 2023 due largely to soaring energy prices.
| Euro STOXX 50 | 3,561.92 | -0.24% | | UK (FTSE 100) | 7,361.63 | -0.88% | | Germany (DAX) | 12,961.14 | 0.53% | | France (CAC 40) | 6,210.22 | -0.19% | *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
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Asian Markets Stocks in Asia were mixed on Wednesday morning following a generally negative sentiment. - China's Purchasing Managers Index for August was at 49.4, showing that production is still decreasing.
- China's Non-Manufacturing Purchasing Managers Index reached 52.6, which suggests that much of the contraction is coming from China's manufacturing industry.
- Tech stocks are falling this morning, with Alibaba losing more than 3% as the Hang Seng Tech Index is down almost 2%.
| S&P Asia 50 | 4,565.74 | 0.33% | | Japan (Nikkei 225) | 28,091.65 | -0.37% | | South Korea (KOSPI) | 2,457.53 | 0.27% | | China (Hang Seng) | 19,871.00 | -0.39% | | India (SENSEX) | 59,537.07 | 2.70% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
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Commodities Oil prices were up slightly on Wednesday morning after seeing significant losses on Tuesday. - In Asian trading, U.S. West Texas Intermediate crude is up ~1% as investors are concerned about aggressive interest rate hikes in the U.S.
- On Tuesday, U.S. West Texas Intermediate fell nearly 6%, while Brent Crude lost 5.9%.
- Data shows that gasoline, oil, diesel, and jet fuel reserves all fell in the U.S. last week.
| Oil (NYSEARCA:OIL) | 32.86 | -4.28% | | Gold (NYSEARCA:GLD) | 160.51 | -0.83% | | Silver (NYSEARCA:SLV) | 16.96 | -1.91% | | Corn (NYSEARCA:CORN) | 27.09 | -0.62% | | Lumber (NASDAQ:WOOD) | 76.88 | -1.23% | *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 U.S. Dollar remained strong on Tuesday despite better-than-expected economic data from the US. - The Euro rose despite new data showing that inflation in Germany hit a 50-year high.
- The U.S. Dollar Index is 108.71, just below its 20-year high of 109.48.
- Traders estimate a 69% chance of a 75-basis point interest rate hike in September by the Fed.
| UK(GBP) | £0.86 | 0.37% | | Europe (EURO) | €1.00 | -0.24% | | Canada (Canadian Dollar) | $1.31 | 0.55% | | Japan (Yen) | ¥138.53 | -0.04% | *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 prices were stable on Tuesday as the currency continued tracking equities. - Binance's BNB chain now allows liquid staking to provide more liquidity for long-term crypto holders.
- Fireblocks, a crypto custody company, has announced its expansion to the Solana network.
- Nexo said it plans to spend another $50M to buy back its token.
| Bitcoin | $20,360.10 | 0.42% | | Ethereum | $1,603.40 | 5.15% | | Litecoin | $54.50 | 2.81% | | Bitcoin Cash | $117.19 | -2.02% | *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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