House prices expected to fall in Canada
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US Markets Stocks rose following the release of the Consumer Price Index on Tuesday, which showed that inflation is slowing down. - Data from the Labor Department showed that prices rose 0.1% in November on a monthly basis and 7.1% from a year earlier -- down from the 7.7% annual rate recorded in October.
- Tech stocks led markets, with Meta gaining 4.7% and Alphabet up 2.5%.
- The current 10 Year U.S. Treasury yield is set at 3.50760%
| Dow Jones | 34,108.64 | 0.30% | | S&P 500 | 4,019.65 | 0.73% | | Nasdaq | 11,256.81 | 1.01% | | Russell 2000 | 1,832.36 | 0.76% | *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 Home prices in Canada are expected to fall by 1% by the forth quarter of 2023, according to Royal LePage. - The expected decline would bring the average price of a house down to $765,171.
- At the end of this year, the average price for a single-family home will be $781,256, and the average price for a condominium will be $568,933.
- In Vancouver, the average home price is $1.2 million.
*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 responded positively to U.S. inflation figures. - The Stoxx 600 closed up 1.1% but had risen by as much as 2.2% earlier in the day.
- Tech stocks led markets in Europe as well, gaining 3.1%.
- Food delivery companies saw strong gains. Delivery Hero surged 10.8% and Hellofresh jumped 8.4%.
| Euro STOXX 50 | 3,986.83 | 1.66% | | UK (FTSE 100) | 7,502.89 | 0.76% | | Germany (DAX) | 14,497.89 | 1.34% | | France (CAC 40) | 6,744.98 | 1.42% | *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 shares rose on Tuesday as sentiment about the global economy improved after official figures showed that U.S. inflation is slowing down. - The central bank in India is expected to raise rates by 25 basis points at its next meeting in February.
- Gaming stocks in Macao rose after China eased COVID-19 restrictions.
- Stocks in China have been mixed since authorities began lifting pandemic restrictions amid the ongoing COVID-19 outbreak.
| S&P Asia 50 | 4,492.86 | 0.35% | | Japan (Nikkei 225) | 27,954.85 | 0.40% | | South Korea (KOSPI) | 2,372.40 | -0.03% | | China (Hang Seng) | 19,596.20 | 0.68% | | India (SENSEX) | 62,533.30 | 0.65% | *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 recorded their biggest daily gains in a month on Tuesday as investors responded positively to inflation data. - Brent rose 3.5% and U.S. West Texas Intermediate gained 3%.
- The Keystone pipeline remains closed after a spill last week, which could put pressure on the country's stockpiles since the duct transports 620,000 barrels of Canadian oil to the U.S.
- According to a Reuters poll, U.S. crude oil inventories decreased by 3.6 million barrels last week.
| Oil (NYSEARCA:OIL) | 28.64 | 2.82% | | Gold (NYSEARCA:GLD) | 168.51 | 1.71% | | Silver (NYSEARCA:SLV) | 21.83 | 1.72% | | Corn (NYSEARCA:CORN) | 25.95 | -0.42% | | Lumber (NASDAQ:WOOD) | 76.56 | 0.56% | *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 down following the publication of the U.S. Consumer Price Index on Tuesday morning. - The USD hit a six-month low against the Euro after falling 1% during trading on Tuesday.
- The U.S. Dollar Index fell by 0.9% on Tuesday and is now at 104.02.
- The Australian, New Zealand, and Canadian dollars were all up against the USD.
| UK(GBP) | £0.81 | -1.08% | | Europe (EURO) | €0.94 | -1.06% | | Canada (Canadian Dollar) | $1.35 | -0.83% | | Japan (Yen) | ¥135.50 | -0.89% | *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 FTX co-founder and former CEO Sam Bankman-Fried was denied bail in his first hearing in the Bahamas yesterday. - The SEC and CFTC also filed charges against Bankman-Fried, in addition to the original charges filed by the Department of Justice.
- The Bahamas' government is also pursuing criminal and civil investigations.
- Bankman-Fried didn't waive his right to fight extradition, meaning he could try to avoid being sent to the U.S. and instead stay in the Bahamas.
| Bitcoin | $17,741.30 | 3.84% | | Ethereum | $1,318.39 | 3.40% | | Litecoin | $77.40 | 1.53% | | Bitcoin Cash | $109.70 | 3.30% | *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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