Home Prices in Canada Fall for Fifth Consecutive Month
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US Markets Markets in the United States fell for the second consecutive day after a strong start to the week. - Markets are falling as investors react to rising bond yields and corporate earnings releases.
- Despite the declines in the past two days, the major indexes are still up on the week.
- The current 10 Year U.S. Treasury yield is set at 4.22650%
| Dow Jones | 30,333.59 | -0.30% | | S&P 500 | 3,665.78 | -0.80% | | Nasdaq | 10,614.84 | -0.61% | | Russell 2000 | 1,704.39 | -1.24% | *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 Home prices in Canada are down for the fifth consecutive month, according to the Teranet-National Bank National Composite House Price Index. - House prices were down 3.1% from August to September, the largest decline in the index's history.
- The largest price declines over the past 12 months were in British Columbia.
- The largest drop on a monthly basis was in Ontario, led by Peterborough, which was down 11.8%.
*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 early on Thursday before reversing after British Prime Minister Liz Truss resigned. - The Stoxx 600 was up 0.25% on the day and all industries saw gains.
- Tech stocks were the best performers for the second straight day as they gained 2%.
- Oil and gas stocks also outperformed the markets, rising 1.45%.
| Euro STOXX 50 | 3,492.85 | 0.62% | | UK (FTSE 100) | 6,943.91 | 0.27% | | Germany (DAX) | 12,767.41 | 0.20% | | France (CAC 40) | 6,086.90 | 0.76% | *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 as investors reacted to inflation data. - Japan's annual inflation rate reached 3% in September and consumer prices rose by 4.5% in Malaysia. Hong Kong is expected to publish inflation data later today.
- South Korea released trade data showing that imports were up 1.9% in the last year and 6.1% in September.
- Stocks in Australia were down after performing well in the past few days.
| S&P Asia 50 | 3,662.52 | -1.92% | | Japan (Nikkei 225) | 26,956.25 | -0.19% | | South Korea (KOSPI) | 2,215.29 | -0.13% | | China (Hang Seng) | 16,280.22 | -1.40% | | India (SENSEX) | 59,202.90 | 0.16% | *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 flat on Thursday but trading was volatile throughout the day. - Brent and U.S. West Texas Intermediate were both down by less than 0.02%.
- OPEC+ will be cutting oil production by 2 million barrels per day soon after agreeing in early October to the cuts.
- President Biden on Wednesday said that the U.S. government will continue to sell oil from the Strategic Petroleum Reserve.
| Oil (NYSEARCA:OIL) | 30.57 | -0.03% | | Gold (NYSEARCA:GLD) | 151.45 | -0.16% | | Silver (NYSEARCA:SLV) | 17.17 | 0.94% | | Corn (NYSEARCA:CORN) | 27.34 | 0.89% | | Lumber (NASDAQ:WOOD) | 68.55 | -0.38% | *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 was up again on Thursday, rising from the two-week low it hit earlier this week. - The Japanese Yen is now over 150 Yen to a U.S. Dollar, the lowest level since August 1990.
- The 10-year yields are over 0.25% in Japan. The Bank of Japan had previously promised to intervene in the markets if the yield was over 0.25%.
- The Bank of Japan said that it does not plan to increase interest rates to fight the currency decline.
| UK(GBP) | £0.89 | 1.18% | | Europe (EURO) | €1.02 | 0.93% | | Canada (Canadian Dollar) | $1.38 | 0.39% | | Japan (Yen) | ¥150.20 | 0.65% | *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 flat again on Thursday. The currency now has been the least volatile in the past 30 days of any month-long period in the last two years. - Coinbase has removed fees for converting between USDC and fiat currencies.
- DeFi exchange Mango will be refunding $114M to users that lost funds following a recent exploit after the perpetrators returned most of the stolen crypto.
- Tether will be making USDT available at ATMs in Brazil and is partnering with TecBan and SmartPay to make it possible.
| Bitcoin | $19,031.20 | -1.55% | | Ethereum | $1,283.82 | -0.09% | | Litecoin | $51.02 | 0.16% | | Bitcoin Cash | $105.98 | -2.53% | *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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