US Dollar hits new 20 year high
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US Markets Stock futures are up slightly after a negative start to the week for U.S. equities. - Futures indicate that all three indexes will likely open Tuesday up 0.1%.
- Despite the decline in stock price on Monday, there are positive indications that the market will get back on track. Approximately 66% of stocks were negative on Monday compared with 86% on Friday, which was an irregularly high amount.
- The current 10-year U.S. Treasury yield is set at 3.09310%
| Dow Jones | 32,098.99 | -0.57% | | S&P 500 | 4,030.61 | -0.67% | | Nasdaq | 12,017.67 | -1.02% | | Russell 2000 | 1,882.94 | -0.89% | *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 TD Bank predicts that the average house price will fall 20-25% from Q1 2022 to Q1 2023. - Last month, housing prices nationwide were down 5% on average.
- This prediction is the most negative of all the major financial institutions, with RBC predicting a 15-20% decline and Desjardin predicting a 15% decline. All other predictions are less than 15%.
- Home sales in Canada were also down 5.3% last month.
*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 markets were down on Monday as the negative sentiment from Friday continues to impact stocks worldwide. - Tech stocks led losses, falling 2% as the major indexes in Germany, France, and Italy all fell more than 1% on the day.
- Markets in the U.K. were closed for a national holiday.
- Uniper was the worst performing stock in the Stoxx 600 as the energy company fell 6% on the day.
| Euro STOXX 50 | 3,570.51 | -0.92% | | UK (FTSE 100) | 7,427.31 | -0.70% | | Germany (DAX) | 12,892.99 | -0.61% | | France (CAC 40) | 6,222.28 | -0.83% | *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 Stocks in Asia are mixed on Tuesday morning after suffering significant losses on Monday. - New data from Japan shows that the unemployment rate stayed steady at 2.6% in July.
- Honda and LG are up after announcing a joint venture to build a new battery factory.
- Australian stocks are up despite fears that high-interest rates could restrict economic growth.
| S&P Asia 50 | 4,524.08 | -2.44% | | Japan (Nikkei 225) | 28,175.31 | 1.06% | | South Korea (KOSPI) | 2,442.96 | 0.66% | | China (Hang Seng) | 19,858.90 | -0.82% | | India (SENSEX) | 57,972.62 | -1.46% | *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 saw a significant rise on Monday due to potential cuts in production by OPEC+. - Saudi Arabia has been discussing the possibility of cutting production to keep costs high.
- OPEC will be meeting on Sept. 5 to set its policy.
- Brent crude gained 4.1% on Monday, while U.S. West Texas Intermediate gained 4.2%.
| Oil (NYSEARCA:OIL) | 34.33 | 4.57% | | Gold (NYSEARCA:GLD) | 161.86 | 0.05% | | Silver (NYSEARCA:SLV) | 17.29 | -0.40% | | Corn (NYSEARCA:CORN) | 27.26 | 1.83% | | Lumber (NASDAQ:WOOD) | 77.84 | -0.33% | *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 hit a new 20-year high on Monday as the hawkish tone from Fed Chairman Jerome Powell boosted the dollar. - The dollar index hit 109.48 before falling later in the day to finish at 108.78.
- The Euro rose significantly on the day while the Pound Sterling continued to fall and is now at a 2.5-year low.
- The odds of a 0.75% rate hike increase to 70%.
| UK(GBP) | £0.85 | 0.40% | | Europe (EURO) | €1.00 | -0.27% | | Canada (Canadian Dollar) | $1.30 | -0.15% | | Japan (Yen) | ¥138.62 | 0.77% | *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 traded below $20,000 for much of Monday before rising late in the day to regain the crucial price point. - Bitcoin's price has been volatile since falling 5% in the hours after Jerome Powell's speech on Friday.
- Bitcoin's price has decreased in three of the last four weeks.
- Bitcoin's price continues to be heavily tied to stock prices as it has failed to differentiate itself and act as a hedge against inflation.
| Bitcoin | $20,163.00 | 0.56% | | Ethereum | $1,531.70 | 7.35% | | Litecoin | $54.67 | 2.32% | | Bitcoin Cash | $118.11 | 2.47% | *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 | Vibha Chapparike is a Freelance Writer & Editor at Inside.com. With her post-graduation in Management and Finance completed, Vibha is expanding her knowledge in Venture Capital, Business, and Startups. Previously, she had a career in Public Relations and Communications with Women in Cloud - an organization on a mission to create $1B in economic access for female technology entrepreneurs. An ardent reader and writer currently residing in Singapore, you can follow Vibha on Twitter @VChapparike. | |
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