US Markets US stock futures were down overnight after markets closed August in the red. - The Dow finished the month down 4.1%, the S&P 500 lost 4.2%, and the Nasdaq fell 4.6%.
- On Wednesday, Loretta Mester, the Federal Reserve President in Cleveland, said that she anticipates that interest rates will rise to 4%.
- The current 10 Year U.S. Treasury yield is set at 3.19930%
| Dow Jones | 31,510.43 | -0.88% | | S&P 500 | 3,955.00 | -0.78% | | Nasdaq | 11,816.20 | -0.56% | | Russell 2000 | 1,844.12 | -0.62% | *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 The Canadian economy grew in Q2 2022 as it continues to recover from the lows of the COVID-19 pandemic. - The Canadian economy has now grown for two consecutive quarters.
- Growth has accelerated from 3.1% in Q1 to 3.3% in Q2, below the 4.4% rate expected by economists.
- The economy has benefited from the Canadian Dollar falling, which has made Canadian goods cheaper for foreign buyers.
*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 lower on Wednesday as they continued to be impacted by negative sentiment in the U.S. - The Stoxx 600 finished the day down 1%. Oil and gas stocks led losses with a 2.7% drop.
- The only industry that saw gains on Wednesday was travel and leisure, which rose 0.6%.
- Oxford Nanopore was at the bottom of the Stoxx 600, losing 5.5%.
| Euro STOXX 50 | 3,517.25 | -1.25% | | UK (FTSE 100) | 7,284.15 | -1.05% | | Germany (DAX) | 12,834.96 | -0.97% | | France (CAC 40) | 6,125.10 | -1.37% | *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 Shares in Asia were down on Thursday morning, as investors awaited the release of Chinese manufacturing data due later today. - Economists expect a significant decline in manufacturing due to record heatwaves in China and Covid outbreaks.
- Stocks in Australia are down, losing more than 2% in the first hour of trading.
- Markets in mainland China are up while stocks in Hong Kong are losing ground.
| S&P Asia 50 | 4,524.12 | -0.60% | | Japan (Nikkei 225) | 27,661.79 | -1.53% | | South Korea (KOSPI) | 2,433.82 | -1.55% | | China (Hang Seng) | 19,734.77 | -1.10% | | India (SENSEX) | 59,537.07 | 2.70% | *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 down again on Wednesday as investors continue to be concerned about the Chinese economy and rising interest rates. - Brent crude was down 2.7%, while U.S. West Texas crude fell by 1%.
- Oil prices have been volatile since Russia invaded Ukraine in late February.
- U.S. gasoline stockpiles fell by 3.4 million barrels in the week ending Aug. 26, nearly three times more than what analysts had expected.
| Oil (NYSEARCA:OIL) | 31.50 | -4.17% | | Gold (NYSEARCA:GLD) | 159.27 | -0.77% | | Silver (NYSEARCA:SLV) | 16.58 | -2.24% | | Corn (NYSEARCA:CORN) | 26.87 | -0.81% | | Lumber (NASDAQ:WOOD) | 76.72 | -0.21% | *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 Japanese yen hit a new 24-year low on Wednesday as it continues to struggle relative to other fiat currencies. - Investors are now pricing in a 73% chance that the Federal Reserve will raise interest rates by 75 basis points.
- Annual inflation in Europe hit a record high of 9.1% in August, which has helped increase the value of the Euro as investors predict that the European Central Bank will raise interest rates.
- Investors are now pricing in a 40% chance that the ECB will raise interest rates by 75 basis points.
| UK(GBP) | £0.86 | 1.19% | | Europe (EURO) | €1.00 | -0.11% | | Canada (Canadian Dollar) | $1.32 | 1.21% | | Japan (Yen) | ¥139.49 | 0.64% | *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 was stable on Wednesday, even though its trading volume increased. - Ethereum was up as investors prepared for the Merge, which is expected to increase the value of the network.
- Bitcoin is currently trading 11% below its 50-day moving average.
- Ethereum is currently trading 5% below its 50-day moving average.
| Bitcoin | $20,098.50 | -0.87% | | Ethereum | $1,555.15 | 1.99% | | Litecoin | $55.12 | 3.98% | | Bitcoin Cash | $115.21 | -3.67% | *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. | |
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