US CPI figures will be released today
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US Markets Stock futures are up overnight after a strong start to the week for U.S. equities. - The Consumer Price Index report will be released later today and will significantly impact markets this week.
- Investors' confidence has largely been supported by the belief that inflation has peaked, any indication that this is not the case will have a negative impact on U.S. equities.
- The current 10 Year U.S. Treasury yield is set at 3.34350%
| Dow Jones | 32,381.34 | 0.71% | | S&P 500 | 4,110.41 | 1.06% | | Nasdaq | 12,266.41 | 1.27% | | Russell 2000 | 1,906.09 | 1.23% | *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 Data from Statistics Canada shows that household debt continues to increase in the country. - On average, Canadians owe $1.82 for every $1.00 disposable income they earn.
- Debt ratios are also getting worse as the total value of household financial assets fell by a record of $530.6B last quarter while household worth decreased by $990.1B, or 6.1%.
- In short, Canadians are loaning more money against assets that are declining in value, creating a highly dangerous financial situation.
*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 on Monday amid expectations that the CPI report out today will confirm that U.S. inflation has peaked. - Retail stocks gained 4.5% on the day, leading the Stoxx 600, which was up 1.8%.
- All sectors of the market finished in the green.
- Bridgepoint Group led the Stoxx 600 as the British private equity firm gained 9%.
| Euro STOXX 50 | 3,646.51 | 2.14% | | UK (FTSE 100) | 7,473.03 | 1.66% | | Germany (DAX) | 13,402.27 | 2.40% | | France (CAC 40) | 6,333.59 | 1.95% | *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 rose on Tuesday morning in Asia as investors awaited the August CPI figures in the U.S. - Markets in Mainland China, Hong Kong, and South Korea were closed on Monday for a holiday.
- South Korean stocks gained nearly 2% in their first hour of Tuesday.
- The U.S. inflation rate for August is expected to come in at 8%, down from 8.5% in July.
| S&P Asia 50 | 4,415.28 | 1.01% | | Japan (Nikkei 225) | 28,553.22 | 0.04% | | South Korea (KOSPI) | 2,428.99 | 1.88% | | China (Hang Seng) | 19,362.25 | 2.69% | | India (SENSEX) | 60,115.13 | 0.54% | *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 on Monday amid concerns of decreasing supply due to a forthcoming EU embargo on Russian oil shipments and Iranian nuclear talks falling through. - Brent crude gained 1.25%, while U.S. West Texas Intermediate crude rose 1.1%.
- China's annual oil demand is expected to decrease in 2022, which would be the first such fall in over two decades.
- The rising value of the U.S. Dollar is also a concern in the market since it could dampen demand for oil.
| Oil (NYSEARCA:OIL) | 31.22 | 1.93% | | Gold (NYSEARCA:GLD) | 160.63 | 0.51% | | Silver (NYSEARCA:SLV) | 18.17 | 4.91% | | Corn (NYSEARCA:CORN) | 27.60 | 1.25% | | Lumber (NASDAQ:WOOD) | 77.04 | 1.85% | *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 fell to its lowest value in two weeks on Monday ahead of the CPI data being released today. - The Euro hit a three-week high amid expectations that the European Central Bank will raise interest rates again.
- The U.S. Dollar Index was down 0.63% and is currently at 108.31.
- The Australian Dollar is at $0.689 after gaining 0.7% on Monday.
| UK(GBP) | £0.86 | -0.81% | | Europe (EURO) | €0.99 | 0.18% | | Canada (Canadian Dollar) | $1.30 | -0.58% | | Japan (Yen) | ¥142.54 | 0.02% | *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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Cryptocurrency Bitcoin rose to $22,000 while other cryptocurrencies were down on Monday. - Ethereum's Merge is scheduled for this week and will move the network from proof-of-work to proof-of-stake.
- The market is currently awaiting the Federal Reserve's monetary policy announcement next week. Another rate increase would negatively impact cryptocurrency markets.
- Bitcoin is up 17% from the 3-month low it hit last Wednesday.
| Bitcoin | $22,259.60 | 2.68% | | Ethereum | $1,689.69 | -4.22% | | Litecoin | $60.79 | -2.39% | | Bitcoin Cash | $127.79 | -3.66% | *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. | |
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