US Markets U.S. stock futures were down slightly overnight after markets continued their upswing on Tuesday, helping the S&P 500 reach its best two-day period in 23 months. - Job opening data was weaker than expected, leading some investors to speculate that the Federal Reserve may ease its interest rate hikes, which would help businesses loan at lower costs and grow again.
- There were 10.06 million job openings in August, down from 11.17 in July and approximately 1 million fewer than expected.
- The private payroll data for September is being released this morning, and analysts expect a 200,000 increase
- The current 10 Year U.S. Treasury yield is set at 3.63690%
| Dow Jones | 30,316.32 | 2.80% | | S&P 500 | 3,790.93 | 3.06% | | Nasdaq | 11,176.41 | 3.34% | | Russell 2000 | 1,775.77 | 3.91% | *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 A recent survey found that ~25% of Canadians want to sell their stocks because they are losing confidence in the long-term performance of markets. - The survey suggests that the negative perception of markets may be skewed by people's need to fund their day-to-day lifestyles, as inflation has caused many to go into debt, liquidate assets or tap into savings.
- So far this year, the TSX is down 10%. Given the relative stability of Canadian markets, this is an extreme loss for many Canadians.
- For those planning on staying in markets, 41% said that the best strategy was to buy and hold, while 9% said they favored income investing, the second most popular strategy.
*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 The Stoxx 600 saw gains across the board on Tuesday, outpacing the increases seen a day earlier. - The Stoxx 600 gained just over 3%. Travel and leisure stocks led markets with a 6.1% increase, followed by technology stocks, which were up 5%, and industrial stocks, which gained 4.2%.
- Tui, the German travel company was one of the best performers, gaining nearly 10%.
- Greggs, the British bakery chain, rose 9.5% on higher-than-expected earnings.
| Euro STOXX 50 | 3,484.48 | 4.26% | | UK (FTSE 100) | 7,086.46 | 2.57% | | Germany (DAX) | 12,670.48 | 3.78% | | France (CAC 40) | 6,039.69 | 4.24% | *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 in Asia are up Tuesday continuing the positive momentum from Monday's significant gains in the U.S. - Stocks in Australia also jumped, gaining 3.75%, after a 25-basis point interest rate increase by the Reserve Bank of Australia.
- The Jakarta index has gained 6% as of the end of Q3 2022, making it the best-performing major national index in the world so far this year.
- Stocks in Japan and Korea rose while markets in China and Hong Kong were closed for a holiday.
| S&P Asia 50 | 3,868.23 | 1.50% | | Japan (Nikkei 225) | 26,992.21 | 2.96% | | South Korea (KOSPI) | 2,209.38 | 2.50% | | China (Hang Seng) | 17,079.51 | -0.83% | | India (SENSEX) | 58,065.47 | 2.25% | *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 again on Tuesday amid expectations that OPEC+ will announce production cuts today. - Brent crude gained 3.18% on the day, while U.S. West Texas Intermediate crude rose 3.28%.
- Production in the Gulf of Mexico is still not at full capacity following Hurricane Ian.
- According to a Reuters poll estimate, U.S. crude oil stocks increased by 2 million barrels last week.
| Oil (NYSEARCA:OIL) | 30.52 | 3.18% | | Gold (NYSEARCA:GLD) | 160.70 | 1.43% | | Silver (NYSEARCA:SLV) | 19.36 | 1.36% | | Corn (NYSEARCA:CORN) | 27.23 | 0.37% | | Lumber (NASDAQ:WOOD) | 69.47 | 2.96% | *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 continued to fall on Tuesday as the 10-year treasury yield decreased following the Reserve Bank of Australia's interest rate hike. - The Australian Dollar was down on the day.
- The British Pound continues to gain as the Bank of England said it plans to buy more long-dated bonds to stabilize markets.
- The Yen fell again after the Japanese finance minister said the government would take "decisive" action to stabilize the currency.
| UK(GBP) | £0.87 | -2.61% | | Europe (EURO) | €1.00 | -1.87% | | Canada (Canadian Dollar) | $1.35 | -1.92% | | Japan (Yen) | ¥143.87 | -0.67% | *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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Cryptocurrency Bitcoin was up as markets now expect the Fed will ease up on its interest rate hikes. - Bitcoin regained the $20,000 price point, a major psychological milestone for the currency.
- Bitcoin trading volume in the U.S. on Tuesday was twice as high as the average.
- Ether also climbed on regular trading volume.
| Bitcoin | $20,200.60 | 5.99% | | Ethereum | $1,355.91 | 2.46% | | Litecoin | $54.83 | 1.20% | | Bitcoin Cash | $121.13 | 5.98% | *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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