US Markets U.S. stock futures lost ground over the weekend, following setbacks late last week and uncertainty about future rate hikes. - Bed Bath & Beyond shares were down 40% on Friday after Ryan Cohen sold his entire stake in the company.
- There is additional market volatility due to $2T in options contracts expiring last Friday.
- The current 10 Year U.S. Treasury yield is set at 2.96100%
| Dow Jones | 33,706.74 | -0.86% | | S&P 500 | 4,228.48 | -1.29% | | Nasdaq | 12,705.22 | -2.01% | | Russell 2000 | 1,957.35 | -2.17% | *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 The TSX was down on Friday as financial stocks weighed down markets. - Major stocks including Shopify, TD Bank, and Bank of Montreal fell.
- Canada's big six banks will report earnings this week, which will significantly impact stocks.
- Canadian markets tracked U.S. equities last week.
*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 last week as investors continue to worry about monetary policy and corporate earnings. - The Stoxx 600 was down 0.8% on Friday, closing a negative week for European stocks.
- Travel and leisure stocks were down 3% on Friday, leading losses in the markets.
- Healthcare stocks continued to buck the trend and gained another 0.7%.
| Euro STOXX 50 | 3,730.32 | -1.25% | | UK (FTSE 100) | 7,550.37 | 0.11% | | Germany (DAX) | 13,544.52 | -1.12% | | France (CAC 40) | 6,495.83 | -0.94% | *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 were mostly flat on Friday as they seem to be largely disconnected from the sentiment in the U.S. - Major Japanese stocks outperformed markets late last week. Nissan rose 1.3%, Nikon Corp gained 3%, and Sony climbed 2% on Friday.
- NetEase reported a 13% year-over-year increase in revenue for the second quarter. The stock lost 6% on Friday amid negative sentiment in tech markets in China.
- The Bank of Japan reiterated its 2% inflation target after the country recorded an annual inflation rate of 2.6% in July, up from 2.4% in June.
| S&P Asia 50 | 4,584.52 | -0.40% | | Japan (Nikkei 225) | 28,930.33 | -0.04% | | South Korea (KOSPI) | 2,492.69 | -0.61% | | China (Hang Seng) | 19,773.03 | 0.05% | | India (SENSEX) | 59,646.15 | -1.08% | *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 largely flat on Friday as investors balanced fears of an economic slowdown and the impact of a stronger U.S. Dollar. - Brent crude was up $0.13 on Friday, while U.S. West Texas Intermediate was up $0.27.
- Both indexes fell ~1.5% last week.
- Official data shows that U.S. crude inventories have fallen sharply, and the country is exporting a record amount of oil.
| Oil (NYSEARCA:OIL) | 32.34 | 0.53% | | Gold (NYSEARCA:GLD) | 162.72 | -0.73% | | Silver (NYSEARCA:SLV) | 17.55 | -2.72% | | Corn (NYSEARCA:CORN) | 25.10 | 0.76% | | Lumber (NASDAQ:WOOD) | 80.23 | -0.74% | *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 Index rose to a five-week high on Friday. - Markets foresee a 55% chance of a 50-basis point hike and a 45% chance of a 75-basis point increase in the Fed's September meeting.
- The Chinese Yuan is at its lowest point since September 2020.
- Federal Reserve Chairman Jerome Powell will discuss future Fed policy at the Jackson Hole symposium on Aug. 25 to 27.
| UK(GBP) | £0.85 | -0.01% | | Europe (EURO) | €1.00 | 0.00% | | Canada (Canadian Dollar) | $1.30 | 0.02% | | Japan (Yen) | ¥136.90 | 0.03% | *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 rose over the weekend after crashing last week, when it went from a three-month high of $25,000 on Monday to a three-week low of $21,000 on Friday. - The decline was spread among all crypto assets, with Ether, Binance, Cardano, Solana, and other altcoins falling.
- There was no apparent reason for the drop. It was not a flash crash because it was not followed by an immediate short-term rebound.
- The Fed update this week will likely impact the crypto market because it is expected to influence investors' risk appetite.
| Bitcoin | $21,495.80 | 3.17% | | Ethereum | $1,625.23 | 3.04% | | Litecoin | $55.10 | 1.85% | | Bitcoin Cash | $118.82 | 4.06% | *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. | |
