US Markets Stock futures are flat as U.S. equities continue to fall amid expectations that interest rates will rise again. - September has historically been a bad month for the U.S. stock market.
- The decline in the Nasdaq on Tuesday caused it to extend its losing streak to seven consecutive trading days, the index's longest losing streak in six years.
- The current 10 Year U.S. Treasury yield is set at 3.34460%
| Dow Jones | 31,145.30 | -0.55% | | S&P 500 | 3,908.19 | -0.41% | | Nasdaq | 11,544.91 | -0.74% | | Russell 2000 | 1,792.32 | -0.96% | *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 Consumer debt in Canada continues to rise, with the average non-mortgage debt now at $21,128. - The average non-mortgage debt has increased by 2.4% compared to last year.
- Total consumer debt is up to $2.32T, up 8.2% from last year.
- Total non-mortgage debt is $591.4B, a 5.2% increase from last 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 Stocks in Europe were up after a few days of negative returns, with investor sentiment shifting in the region. - The Stoxx 600 was up 0.2%, led by retail stocks, which gained 1.7%.
- Oil and gas stocks were down 2.5% -- it was the only industry that suffered significant losses.
- Grocery Hero gained 7.5% on the day after being upgraded by Morgan Stanley.
| Euro STOXX 50 | 3,500.14 | 0.29% | | UK (FTSE 100) | 7,300.44 | 0.18% | | Germany (DAX) | 12,871.44 | 0.87% | | France (CAC 40) | 6,104.61 | 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 Markets in Asia were down on Wednesday morning, with investors anticipating that a further increase in the value of the U.S. Dollar will negatively impact Asian markets. - New data revealed that China’s exports grew 7.1% in August year-on-year, missing estimates of 12.8%, and down from a growth of 18% in July.
- U.S. bond yields were up overnight (U.S. time), which contributed to the decline in Asian markets.
- The Hang Seng Tech Index lost 1.79% in early trading, dragging down stocks both in mainland China and in Hong Kong.
| S&P Asia 50 | 4,292.93 | -2.22% | | Japan (Nikkei 225) | 27,313.20 | -1.13% | | South Korea (KOSPI) | 2,375.14 | -1.45% | | China (Hang Seng) | 18,923.59 | -1.45% | | India (SENSEX) | 59,196.99 | -0.08% | *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 fell on Tuesday amid concerns about interest rate hikes and COVID-19 lockdowns. - Brent crude fell 3%, while U.S. West Texas Intermediate crude lost 2%.
- Expectations of a stronger U.S. Dollar contributed to the declines because it would make oil more expensive for importing countries.
- Data on U.S. crude oil and fuel stockpiles would be released later than usual this week because Monday was a holiday.
| Oil (NYSEARCA:OIL) | 30.89 | -0.36% | | Gold (NYSEARCA:GLD) | 158.33 | -0.58% | | Silver (NYSEARCA:SLV) | 16.54 | -0.18% | | Corn (NYSEARCA:CORN) | 27.08 | 1.77% | | Lumber (NASDAQ:WOOD) | 73.58 | -1.02% | *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 gained 0.38% on Tuesday but Treasury yields are climbing quickly overnight. - The Euro and U.K. Pound increased against the six major fiat currencies after hitting multi-year lows on Tuesday.
- The Japanese Yen continued declining -- the U.S. Dollar has gained 24% against the Yen this year.
- Liz Truss, the incoming British Prime Minister, is considering a plan to freeze energy bills for households in a bid to make energy more affordable.
| UK(GBP) | £0.87 | 0.00% | | Europe (EURO) | €1.01 | 0.21% | | Canada (Canadian Dollar) | $1.32 | 0.30% | | Japan (Yen) | ¥143.53 | 2.16% | *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 hit its lowest price in over two months after cryptocurrency prices were down significantly on Tuesday. - Bitcoin trading volume declined by 4.5%, meaning this was not a panic sell-off.
- Ether was also down but had higher than average trading volume due to the interest in its upcoming Merge.
- KPMG forecasts that investments in the cryptocurrency industry will continue decreasing until the end of 2022.
| Bitcoin | $18,634.60 | -6.74% | | Ethereum | $1,499.79 | -7.30% | | Litecoin | $53.21 | -11.85% | | Bitcoin Cash | $111.09 | -6.14% | *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 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. | |
