US Markets After a positive trading day on Wednesday, stock futures lost ground overnight, ahead of retail sales data due out today. - Advance Auto Parts lost 10% after the company reported lower-than-expected earnings.
- Economists expect today's data to show that retail sales increased by 1.2% last month.
- The current 10 Year U.S. Treasury yield is set at 3.80210%
| Dow Jones | 33,592.92 | 0.17% | | S&P 500 | 3,991.73 | 0.87% | | Nasdaq | 11,358.41 | 1.45% | | Russell 2000 | 1,889.20 | 1.50% | *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 62% of Canadians support a surtax on homes valued at over $1M. - A new levy on these properties, which account for 10% of the homes in the country, would provide revenues of over ~$5B.
- The tax has strong support in Atlantic Canada, Saskatchewan, and Alberta.
- Support is lower in British Columbia and Ontario, regions in which 25% of homes are valued at over $1M.
*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 stocks rose on Tuesday as investors continued to gain confidence that U.S. inflation is slowing. - The Stoxx 600 gained 0.2%, with technology stocks up 1.4% on the day.
- The U.S. Producer Price Index rose by 0.2% month over month in October, which was a positive sign for foreign markets, as it shows that inflation is stabilizing.
- Ambu dropped 17% after the Danish healthcare equipment company announced a loss.
| Euro STOXX 50 | 3,915.09 | 0.71% | | UK (FTSE 100) | 7,369.44 | -0.21% | | Germany (DAX) | 14,378.51 | 0.46% | | France (CAC 40) | 6,641.66 | 0.49% | *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 markets were down on Tuesday and Wednesday morning, amid the ongoing G20 summit in Bali. - Hong Kong's Hang Seng Index lost 1.04%, with tech companies leading losses.
- Tencent dropped on Tuesday after Reuters reported that the company plans a new round of job cuts but the stock rose on Wednesday morning, ahead of the company's release of Q3 results today.
- JPMorgan lowered its 2022 and 2023 growth forecasts for China, from 3.1% to 2.9% and from 4.5% to 4%, respectively.
| S&P Asia 50 | 4,327.33 | 4.49% | | Japan (Nikkei 225) | 27,944.48 | -0.16% | | South Korea (KOSPI) | 2,474.25 | -0.25% | | China (Hang Seng) | 18,292.03 | -0.28% | | India (SENSEX) | 61,872.99 | 0.40% | *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, following reports that oil supply via the Druzhba pipeline, which transports Russian oil to Eastern Europe, was suspended. - Brent crude was up 1.1% while U.S. West Texas Intermediate crude gained 1.4%.
- COVID-19 cases are increasing in China, which is leading to a drop in factory output.
- U.S. oil stockpiles were down by 300,000 barrels last week, according to independent estimates.
| Oil (NYSEARCA:OIL) | 31.93 | 2.08% | | Gold (NYSEARCA:GLD) | 165.50 | 0.35% | | Silver (NYSEARCA:SLV) | 19.88 | -1.78% | | Corn (NYSEARCA:CORN) | 26.63 | 1.56% | | Lumber (NASDAQ:WOOD) | 76.36 | 0.35% | *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 slightly on Tuesday as investors moved into the safe haven currency. - Investors moved into safer assets following reports that a rocket hit Poland, killing two people.
- The Australian and New Zealand dollars were down due to the movement away from higher-risk assets.
- The Euro and the British Pound rose following a G7 meeting to discuss the war in Ukraine.
| UK(GBP) | £0.84 | -0.64% | | Europe (EURO) | €0.96 | -0.42% | | Canada (Canadian Dollar) | $1.33 | 0.10% | | Japan (Yen) | ¥139.86 | 0.20% | *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 and Ethereum rose on Tuesday as markets reacted positively to the Producer Price Index figures. - Senators Debbie Stabenow (D-MI) and John Boozman (R-AR) plan to push forward with a bill backed by former FTX CEO Sam Bankman-Fried.
- Solana has lost $700M due to the fallout from the FTX bankruptcy.
- Crypto lender BlockFi is reportedly planning to file for bankruptcy as the FTX collapse reverberates through the crypto market.
| Bitcoin | $16,926.90 | 3.84% | | Ethereum | $1,260.55 | 1.60% | | Litecoin | $59.15 | 4.73% | | Bitcoin Cash | $104.75 | 5.53% | *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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