US Markets Stock futures were flat overnight after a mixed day on Tuesday. - The Nasdaq lost 0.59% on Tuesday and the S&P 500 dropped 0.16%, while the Dow Jones Industrial Average gained 0.01%.
- Federal Reserve Chair Jerome Powell will give a speech today at the Brookings Institution and could discuss future interest rate increases.
- Private payroll and jobs data will be released today.
- Salesforce, Petco, and Five Below will be reporting their earnings today.
- The current 10 Year U.S. Treasury yield is set at 3.74220%
| Dow Jones | 33,852.53 | 0.01% | | S&P 500 | 3,957.63 | -0.16% | | Nasdaq | 10,983.78 | -0.59% | | Russell 2000 | 1,836.55 | 0.31% | *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 Canada's economy is starting to feel the impact of higher interest rate hikes, with consumer spending declining. - Data from Statistics Canada shows that GDP was flat in October after a 0.1% increase in September.
- Annualized GDP growth reached 2.9% in Q3, down from 3.2% in Q2 2022.
- Household consumption fell by 1% and business capital decreased by 5.1%.
*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 Markets in Europe closed down slightly on Tuesday after a volatile trading session. - The Stoxx 600 fell 0.1% after gaining 0.5% earlier in the day.
- Basic resource stocks rose 2.7% to lead markets and chemical stocks dragged down markets with a 1.7% drop.
- Germany's annual inflation rate reached 10% in November but the Consumer Price Index shrank by 0.5% from the previous month.
| Euro STOXX 50 | 3,934.44 | -0.03% | | UK (FTSE 100) | 7,512.00 | 0.51% | | Germany (DAX) | 14,355.45 | -0.19% | | France (CAC 40) | 6,668.97 | 0.06% | *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 Asian stocks were mixed on Wednesday morning after falling on Tuesday, with the Chinese government expected to report that factory activity shrank for the second consecutive month. - The Chinese government announced a plan to increase vaccinations for the elderly, which Beijing claims will be a key factor in helping to reopen the economy.
- Stocks rose in Australia after data suggested that inflation could be slowing.
- Bilibili surged by nearly 13% after announcing better-than-expected revenue for Q3 2022.
| S&P Asia 50 | 4,294.17 | 4.41% | | Japan (Nikkei 225) | 27,858.16 | -0.61% | | South Korea (KOSPI) | 2,442.58 | 0.38% | | China (Hang Seng) | 18,231.20 | 0.15% | | India (SENSEX) | 62,681.84 | 0.28% | *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 on Tuesday due to expectations that demand for oil will increase as China is expected to ease COVID-19 restrictions. - Brent crude gained 0.2% and U.S. West Texas Intermediate rose 1.3%.
- Data shows that China and India are purchasing Russian crude at a 40% discount following the embargo from North American and European countries.
- The EU has not yet reached an agreement for a cap on Russian oil prices after Poland, Estonia, Latvia, and Lithuania objected to the previously agreed price per barrel.
| Oil (NYSEARCA:OIL) | 29.78 | 1.60% | | Gold (NYSEARCA:GLD) | 162.73 | 0.49% | | Silver (NYSEARCA:SLV) | 19.56 | 1.56% | | Corn (NYSEARCA:CORN) | 26.64 | 0.04% | | Lumber (NASDAQ:WOOD) | 75.19 | 0.84% | *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 rose on Tuesday and Wednesday morning to hit a new one-week high. - Investors estimate there is a 63.5% chance that the Fed will raise rates by 50 basis points and a 36.5% chance of a 75-basis point increase.
- The Euro and British Pound Sterling rose on the day but fell against the U.S. Dollar.
- The Australian Dollar continues to climb as investors expect China to reopen its economy, which would have a positive impact on the Australian economy.
| UK(GBP) | £0.83 | 0.65% | | Europe (EURO) | €0.97 | 0.19% | | Canada (Canadian Dollar) | $1.36 | 1.24% | | Japan (Yen) | ¥138.74 | -0.45% | *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 Coinbase wallet plans to end support for Bitcoin Cash, Ethereum Classic, Ripple, and Stellar. - Phantom, which is currently a Solana-focused wallet, plans to add support for Ethereum and Polygon.
- After Huobi said it will be issuing the new Dominica Coin on Huobi Prime the HT token soared by 15%.
- Crypto prices rose on the day as trade volumes increased.
| Bitcoin | $16,922.70 | 3.06% | | Ethereum | $1,271.24 | 8.81% | | Litecoin | $79.03 | 6.75% | | Bitcoin Cash | $113.86 | 2.48% | *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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