US Markets Futures were flat overnight after a market rally came to an end on Wednesday, when stocks suffered minor losses but were mostly stable. - Data from ADP showed that the U.S. economy added 208,000 jobs to the private sector, beating expectations of 200,000 new jobs.
- Investors are in a challenging position as they gauge the health of the U.S. economy. Some think the Federal Reserve's rate increases are causing a recession, while others believe the rate hikes are lowering inflation with a minimal decline in economic activity.
- The current 10 Year U.S. Treasury yield is set at 3.75690%
| Dow Jones | 30,273.87 | -0.14% | | S&P 500 | 3,783.28 | -0.20% | | Nasdaq | 11,148.64 | -0.25% | | Russell 2000 | 1,762.69 | -0.74% | *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 Starting today, consumers in Canada could face an increase in costs as merchants will be allowed to charge credit card fees. - A recent survey found that 19% of businesses plan to pass on the fees to consumers.
- Credit card fees usually are 1.5-2.5% of the total sale price for merchants.
- Telus, the third largest telecommunications company in the country, has submitted a filing with the Canadian Radio-television Telecommunications Commission seeking their approval to charge consumers an additional 1.5% on their monthly bills if they pay by Visa or Mastercard.
*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 down on Wednesday as the positive momentum faded in international markets. - Oil and Gas stocks were up on the day despite the negative sentiment, gaining almost 1%.
- The Stoxx 600 was down 1%, with retail stocks losing 3.2%.
- GN Store Nord, a Danish hearing aid manufacturer, was the worst-performing stock, falling 7.5%.
| Euro STOXX 50 | 3,447.72 | -1.05% | | UK (FTSE 100) | 7,052.62 | -0.48% | | Germany (DAX) | 12,517.18 | -1.21% | | France (CAC 40) | 5,985.46 | -0.90% | *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 rose on Wednesday as they benefited from positive U.S. momentum from Tuesday. - The Hang Seng Tech Index gained 7.5%, helping the Hang Seng close up by almost 6%.
- Stocks in Australia gained 1.74% as Australian markets continue to have positive momentum.
- Markets in mainland China and India were closed on Wednesday for holidays.
| S&P Asia 50 | 4,058.59 | 4.92% | | Japan (Nikkei 225) | 27,120.53 | 0.48% | | South Korea (KOSPI) | 2,215.22 | 0.26% | | China (Hang Seng) | 18,087.97 | 5.90% | | 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 rose after OPEC+ members agreed to cut oil production. - The decrease comes despite comments from the U.S. government that OPEC+ should increase oil output to help the global economy recover and fight inflation.
- The cuts will be between 500,000 and 2 million barrels per day.
- Oil prices are down to $80 from highs of $120 earlier in the summer.
| Oil (NYSEARCA:OIL) | 31.12 | 2.17% | | Gold (NYSEARCA:GLD) | 159.81 | -0.54% | | Silver (NYSEARCA:SLV) | 18.99 | -1.91% | | Corn (NYSEARCA:CORN) | 27.32 | 0.33% | | Lumber (NASDAQ:WOOD) | 68.65 | -1.18% | *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 slightly as markets in Europe and overseas declined. - The U.S. Dollar gained 1% against the six top fiat currencies.
- The British Pound fell after hours as the markets reacted negatively to a speech by U.K. PM Liz Truss.
- Fed Presidents have started to take a less hawkish tone when discussing future interest rate hikes.
| UK(GBP) | £0.88 | 0.08% | | Europe (EURO) | €1.01 | -0.56% | | Canada (Canadian Dollar) | $1.36 | -0.10% | | Japan (Yen) | ¥144.53 | 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 Cryptocurrency prices were mostly flat on Wednesday as investors continued to evaluate the health of the U.S. economy. - Mythical Games has founded Mythos Foundation to help support Decentralized Web3 Gaming.
- GMX's token has surged after being listed on Binance. GMX is a decentralized exchange.
- Trading volume continues to increase in Bitcoin, which seems to indicate that investors are looking for a sign to either short or support the market.
| Bitcoin | $20,151.10 | 2.64% | | Ethereum | $1,353.20 | -0.65% | | Litecoin | $54.42 | -1.63% | | Bitcoin Cash | $122.30 | 5.22% | *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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