Market Outlook 🚀 - US markets rise

Crypto Sports Fan Coins Rise

Inside.com Part of   Network November 21, 2022

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U.S. Markets Markets were up on Friday as investors continued to analyze statements from the Federal Reserve and the impact of retail earnings reports.  The major indexes were down for the week, with the Dow losing 0.01%, the S&P 500 losing 0.69%, and the Nasdaq down 1.57%.  All the major indexes are still up in November despite last week's negative performance.  The current 10 Year U.S. Treasury yield is set at 3.82700% Dow Jones  33,745.69 0.59% S&P 500  3,965.34 0.48% Nasdaq  11,146.06 0.01% Russell 2000 1,849.73 0.58% *Stock Market data as of the last closing bell. Data received directly from the references indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.

Canadian Markets The CRA announced that Canadians' tax-free savings account contribution limit would be increased by $500 to $6,500.  The limit only applies to those already at the maximum contribution for past years. The latest estimates from the Canada Revenue Agency show that only 10% of TFSA holders contribute to their maximum.  The total space allowable now for those that were 18 or older in 2009 is $88,000.  TSX  19,980.91 0.48% *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 up on Friday as investors reacted to the U.S.'s potential changes in monetary policy.  The Stoxx 600 was up 1.1% on Friday after losses earlier in the day.  Retail and automotive stocks led the markets, gaining 2% as all industries were up on the day.  Verbund was the best-performing stock in Europe, gaining 8.2%.  Fuchs was the worst-performing stock losing 4.6%.  Euro STOXX 50  3,924.84 1.20% UK (FTSE 100)  7,385.52 0.53% Germany (DAX)  14,431.86 1.16% France (CAC 40) 6,644.46 1.04% *European stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.

Asian Markets Stocks in Asia were mixed on Friday in response to local economic data.  Japan's core consumer price index was 3.6% higher than last year. This is Japan's fastest consumer price increase in over 40 years.  Alibaba's biggest sales day, Singles Day, was disrupted by COVID-19 suggest, which caused delivery issues. Alibaba also announced $15B in share buybacks. Defence stocks in South Korea were up after North Korea confirmed they launched an inter-continental ballistic missile.  S&P Asia 50 4,271.90 0.26% Japan (Nikkei 225) 27,899.77 -0.11% South Korea (KOSPI) 2,444.48 0.06% China (Hang Seng) 17,992.54 -0.29% India (SENSEX) 61,663.48 -0.14% *Asian stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.

Commodities Oil prices were down by more than $2 a barrel on Friday, leading to a second straight weekly loss for oil prices.  Brent crude was down 3.1%, and U.S. West Texas Intermediate crude was down 3.2% on Friday.  Last week, Brent crude fell by 9%, and U.S. West Texas Intermediate crude was down 10.5%.  The EU's ban on Russian Crude will come into effect in three weeks, creating pressure on markets.  Oil (NYSEARCA:OIL) 29.99 -1.77% Gold (NYSEARCA:GLD) 162.79 -0.69% Silver (NYSEARCA:SLV) 19.25 -0.21% Corn (NYSEARCA:CORN) 26.55 -0.08% Lumber (NASDAQ:WOOD) 75.43 0.40% *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.

Currency Exchange Rates The U.S. dollar was down slightly over the weekend after gaining on Friday.  The U.S. dollar had its largest weekly gain over a month last week.  The U.S. dollar appears to be trending back upwards after losing more than 4% last week after better-than-expected inflation figures.  British retail figures showed that consumers were spending more despite the country's 41-year high inflation rate, which helped boost the currency. UK(GBP) £0.84 -0.03% Europe (EURO) €0.97 0.00% Canada (Canadian Dollar) $1.34 -0.18% Japan (Yen) ¥140.21 -0.10% *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.

Cryptocurrency Markets remained steady as investors learned more about the FTX bankruptcy's impacts.  Bitcoin was down 2% last week, with Ethereum gaining 5%, both with lower-than-normal trading volumes.  Sports fan tokens were up significantly the last week, with CHZ gaining 11%, Portugal's fan token gaining 50%, and Argentina's fan token gaining 28%.  Emurgo, which founded Cardano, is planning to launch a new USD stablecoin.  Bitcoin $16,518.90 -0.97% Ethereum $1,175.61 -3.35% Litecoin $62.07 -2.71% Bitcoin Cash $106.78 2.10% *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.

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 Vibha Chapparike is a Freelance Writer & Editor at Inside.com. With her post-graduation in Management and Finance completed, Vibha is expanding her knowledge in venture capital, business, startups, and technology. She has had a career in public relations and communications. An ardent reader and writer currently residing in Singapore, you can follow Vibha on Twitter @VChapparike.

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