U.S. CPI figures due later today
| Part of  Network | |
 Presented by  |
US Markets Stocks were down on Tuesday as investors responded to negative earnings reports. - Micron was down over 3% after the chipmaker lowered its revenue forecast for the current quarter.
- Nvidia cut its forecast for the rest of 2022 due to macroeconomic factors.
- Novavax lost 30% due to low demand for its COVID-19 vaccine.
- Upstart was down 11% after the company missed its profit and revenue targets.
- The current 10 Year U.S. Treasury yield is set at 2.78460%
| Dow Jones | 32,774.41 | -0.18% | | S&P 500 | 4,122.47 | -0.42% | | Nasdaq | 12,493.93 | -1.19% | | Russell 2000 | 1,912.89 | -1.46% | *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 COACHHUB How much is employee attrition costing your organization? As workplaces evolve, businesses need to invest in innovative ways to meet the diverse demands of their workforce―and see a return on their investment. Forrester’s Total Economic Impact of CoachHub study measured the results of innovation in learning and development. The results: Business costs related to employee attrition can be significantly reduced through innovation in learning and development.
This study provides a framework to evaluate the potential impact of CoachHub on their organizations as well as insights that articulate the benefits, costs and risks associated with an investment in people development.
In this report you'll learn: - The net present value of coaching totaled $3.3M over three years
- Digital coaching proved a 260% ROI
- Organizations studied showed a $4.3M cost savings linked to employee retention
Access your copy
| |
Market Insight The release of July's consumer price index figures this morning is set to significantly impact markets. - Investors hope the data will show that inflation has already peaked. If figures are lower than in June, stocks and oil prices are expected to rise.
- Economists are expecting that the CPI will rise by 0.2% from June to July for an 8.7% annualized rate.
- In June, the CPI rose 1.3% compared to May and 9.1% on an annualized basis.
- Excluding food and energy prices, the CPI is expected to rise by 0.5%, which is less than the 0.7% increase in June.
- Core inflation is expected to hit 6.1% on an annualized basis compared to 5.9% last month.
| |
Canadian Markets The TSX was down on Tuesday following a drop in technology stocks. - Financial and consumer stocks were also down on a day that saw most major industries in the red.
- Recipe's stock was up after Fairfax offered to purchase the company at $20.73 per share. The markets closed with the stock valued at $19.96 per share.
- Martinrea International Inc was up over 5% after the company announced a 25% increase in sales in Q2.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
| |
European Markets European markets were down as investors attempted to predict central banks' actions moving forward as inflation rates and economic performances begin to differ worldwide. - The Stoxx 600 finished the day down 0.6%. Tech stocks were down 3.2%, leading losses.
- Oil and gas was one of the few industries to rise on Tuesday, gaining 1.2%.
- Ferrovial was up 4% as news leaked that the company was considering a potential sale of its 25% stake in Heathrow Airport.
- New data from the UK showed that retail sales rose 1.6% month over month in July.
| Euro STOXX 50 | 3,715.37 | -1.11% | | UK (FTSE 100) | 7,488.15 | 0.08% | | Germany (DAX) | 13,534.97 | -1.12% | | France (CAC 40) | 6,490.00 | -0.53% | *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 were mixed on Tuesday, with local events and news impacting national markets. - Stock markets in India and Singapore were closed for national holidays.
- Zhengzhou Tiames Technology stock was up over 20% after the Chinese ministry of transportation released its pathway for the legalization of autonomous vehicles.
- Softbank was down 7% as investors reacted to the company's losses last quarter in the context of high inflation and rising interest rates.
| S&P Asia 50 | 4,595.94 | -1.56% | | Japan (Nikkei 225) | 27,999.96 | -0.88% | | South Korea (KOSPI) | 2,503.46 | 0.42% | | China (Hang Seng) | 20,003.44 | -0.21% | | India (SENSEX) | 58,853.07 | 0.80% | *Asian stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.
| |
Commodities Oil prices were volatile on Tuesday but finished the day down amid concerns surrounding global growth. - Brent Crude lost 0.4%, while U.S. West Texas Intermediate Crude finished down 0.3%. Both reached highs of +1.2% and lows of -1% during the session.
- Data on crude inventories is due later today, with analysts predicting a 400,000 barrel decrease in U.S. reserves.
- Oil prices are down more than $40 from the highs of $139 set in March.
| Oil (NYSEARCA:OIL) | 31.58 | -0.06% | | Gold (NYSEARCA:GLD) | 167.20 | 0.31% | | Silver (NYSEARCA:SLV) | 18.93 | -0.53% | | Corn (NYSEARCA:CORN) | 24.86 | 0.77% | | Lumber (NASDAQ:WOOD) | 77.88 | -0.59% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
| |
Currencies The USD was up 0.047% on Tuesday. - The lack of movement in currency markets is largely due to investors waiting for U.S. CPI data due later today.
- Investors are uncertain about how the Federal Reserve will act moving forward due to the strength of last week's jobs report.
- The Australian Dollar was down as investors in Asia moved away from higher-risk assets. The safe-haven Yen rose as a result.
Currency Exchange Rates | UK(GBP) | £0.83 | -0.13% | | Europe (EURO) | €0.98 | -0.42% | | Canada (Canadian Dollar) | $1.29 | -0.46% | | Japan (Yen) | ¥135.10 | 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.
| |
 |  | 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. | |
| |
| 767 Bryant St. #203, San Francisco, CA 94107
Copyright © 2022 Inside.com | |
| |
