US Markets U.S. stock futures were up slightly overnight after markets saw small gains on Wednesday following a significant drop a day earlier. - Investor sentiment improved slightly following the release of the Producer Price Index, which fell 0.1% from July to August.
- Today will be a key day in determining investor sentiment until the Fed's meeting next week as key economic data (including retail sales, employment, import/exports, and manufacturing numbers) will be released this morning.
- The current 10 Year U.S. Treasury yield is set at 3.41220%
| Dow Jones | 31,135.09 | 0.10% | | S&P 500 | 3,946.01 | 0.34% | | Nasdaq | 11,719.68 | 0.74% | | Russell 2000 | 1,838.46 | 0.38% | *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.
| |
 A message from EYEO Get your free ticket to Ad-Filtering Dev Summit Join the free hybrid event in Amsterdam and online on 5 and 6 October 2022 alongside speakers from Meta, Opera, AdGuard, Mozilla, Google, eyeo and many more. You’ll learn about the future of ad filtering, from new technology like machine learning and VR/AR and embedded devices, to discussions on new privacy regulations and topics concerning the internet at large. Hear from industry professionals like: Get your free ticket to attend the event live in Amsterdam or online, on 5 and 6 October 2022. Register Here
| |
Canadian Markets TMX Group, which operates the Toronto Stock Exchange, said the exchange will be open next Monday despite the national holiday announced yesterday to honor Queen Elizabeth II. - The Canadian Banker's Association said that all banks will remain open and operate with normal hours.
- All federal workers will get the day off. Federally regulated industries such as banking and aviation were urged to give their workers the day off but are not obliged to do so.
- No province has mandated the holiday for private sector workers, but British Columbia, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador have all announced that the provincial governments and the institutions they regulate, including public schools and universities, will be closed for the day.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
| |
 A message from DEVREV SaaS companies are rapidly moving towards a product-led customer support methodology that helps them bring their customers closer to the developers' work. DevRev PLuG helps you achieve this by connecting customer conversations to issues, tickets, and product features in one place. Install DevRev PLuG in your app for free and see the following in action: - Live conversation chat between your customers and your team in an in-app experience.
- Multi-channel support to collaborate with your customers whether they prefer live chat or email.
- Customer interactions and conversations connected to your developers' priorities and product features.
Sign Up Here
| |
European Markets European Stocks were down on Wednesday as they were heavily impacted by the negative sentiment in the U.S. a day earlier. - The Stoxx 600 was down 0.8%, with only oil and gas stocks gaining on the day.
- Mining stocks dragged down markets, falling by 2.3%.
- British retailer Ocado was the worst-performing stock with a 7% drop after announcing that it expects grocery sales to fall this quarter for the first time ever.
| Euro STOXX 50 | 3,567.56 | -0.52% | | UK (FTSE 100) | 7,277.30 | -1.47% | | Germany (DAX) | 13,028.00 | -1.22% | | France (CAC 40) | 6,222.41 | -0.37% | *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
Asian Markets Asian stocks are up slightly on Thursday morning after an overwhelmingly negative trading day on Wednesday as investors reacted to U.S. inflation figures. - New Zealand said that its GDP grew 1.7% in Q2 after contracting 0.2% in Q1.
- The growth was largely due to the rise in logistics industries including the delivery, transportation, and warehouse industry, which surged by 19.7%,
- The arts and recreation industry rose 9% last quarter after the government eased COVID-19 restrictions for foreign tourists.
| S&P Asia 50 | 4,286.16 | -2.98% | | Japan (Nikkei 225) | 27,817.78 | 0.00% | | South Korea (KOSPI) | 2,412.81 | 0.06% | | China (Hang Seng) | 18,847.10 | -2.48% | | India (SENSEX) | 60,346.97 | -0.37% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
Commodities Oil prices rose on Wednesday amid concerns about lower supply and higher demand during winter months in the Northern Hemisphere. - The International Energy Agency forecasts that global oil demand between October and March will double compared to last winter.
- Global crude oil inventories were down by 25.6 million barrels in July.
- Brent crude gained 1.8%, while U.S. West Texas Intermediate crude rose 2.1%.
| Oil (NYSEARCA:OIL) | 31.35 | 1.03% | | Gold (NYSEARCA:GLD) | 157.93 | -0.38% | | Silver (NYSEARCA:SLV) | 18.00 | 0.95% | | Corn (NYSEARCA:CORN) | 27.30 | -0.98% | | Lumber (NASDAQ:WOOD) | 73.75 | -0.90% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
| |
Currency Exchange Rates The U.S. Dollar rose significantly overnight on Tuesday before falling slightly during U.S. trading hours on Wednesday. - During trading hours, the U.S. Dollar Index fell by 0.3% after gaining over 1% during Asian trading hours.
- The 24-hour period before the opening of U.S. markets on Wednesday was the best such period for the U.S. Dollar in 30 months.
- Investors have now fully priced in a 75-basis point interest rate hike from the Federal Reserve, meaning that they expect this to be the minimum amount the Fed will increase rates next week.
| UK(GBP) | £0.87 | 1.42% | | Europe (EURO) | €1.00 | 1.58% | | Canada (Canadian Dollar) | $1.32 | 1.47% | | Japan (Yen) | ¥143.14 | 0.39% | *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.
| |
Cryptocurrency Ethereum was flat on Wednesday ahead of today's Merge, which has been in the works for a couple of years. - Bitcoin fell again and has now dropped by 70% from its all-time high, including 58% this year.
- Ethereum is 67% below its all-time high and down 57% this year.
- Starbucks said it plans to launch a Web 3.0-based loyalty program, which will allow customers to purchase NFTs using their credit/debit cards.
| Bitcoin | $20,029.00 | -10.60% | | Ethereum | $1,601.62 | 1.71% | | Litecoin | $59.12 | 0.15% | | Bitcoin Cash | $118.05 | -8.40% | *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 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. | |
| |
| |
