CFTC Chair claims the agency could have prevented FTX's collapse
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US Markets Markets were down on Thursday, giving away some of the significant gains made on Wednesday. - Salesforce lost 8.3% after the company announced that one of its co-CEOs would be stepping down.
- Costco fell 6.6% after announcing that sales in November declined 5.7% compared to last year.
- The current 10 Year U.S. Treasury yield is set at 3.51120%
| Dow Jones | 34,395.01 | -0.56% | | S&P 500 | 4,076.57 | -0.09% | | Nasdaq | 11,482.45 | 0.13% | | Russell 2000 | 1,881.68 | -0.26% | *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 Stocks in Canada saw small gains despite the decline in U.S. markets. *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 to a six-month high after the Federal Reserve indicated that smaller interest rate hikes were ahead. - The Stoxx 600 was up 0.76%, with tech stocks leading gains and oil and gas dragging down markets.
- Stocks in the U.K. fell while German, French, Italian, and Spanish indexes saw gains.
- Bridgepoint Group surged 8.4% to lead the Stoxx 600.
| Euro STOXX 50 | 3,984.50 | 0.50% | | UK (FTSE 100) | 7,558.49 | -0.19% | | Germany (DAX) | 14,490.30 | 0.65% | | France (CAC 40) | 6,753.97 | 0.23% | *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 Stocks in Asia were up on Thursday, building on the rise of U.S. stocks on Wednesday. - The private sector data on the Chinese Purchasing Managers Index shows it at 49.4; this was above the public data that came in at 48 but still indicates an economic contraction.
- Japanese stocks rose, benefiting from a stronger Japanese Yen.
- Singapore announced new requirements for crypto service providers in the country.
| S&P Asia 50 | 4,449.38 | 3.78% | | Japan (Nikkei 225) | 28,226.08 | 0.92% | | South Korea (KOSPI) | 2,479.84 | 0.30% | | China (Hang Seng) | 18,736.44 | 0.75% | | India (SENSEX) | 63,284.19 | 0.29% | *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 were mixed on Thursday after rising early in the day. - Brent crude lost 0.1% on the day, but prices rose in the U.S., with U.S. West Texas Intermediate gaining 0.8%.
- Both oil benchmarks are on pace to rise this week following three weeks of declines.
- EU governments on Thursday tentatively agree to place a $60 cap on Russian seaborne oil.
| Oil (NYSEARCA:OIL) | 30.64 | 0.66% | | Gold (NYSEARCA:GLD) | 167.84 | 1.84% | | Silver (NYSEARCA:SLV) | 20.98 | 2.69% | | Corn (NYSEARCA:CORN) | 26.18 | -0.91% | | Lumber (NASDAQ:WOOD) | 76.90 | 1.22% | *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 Index is down to a 16-week low. - The USD declined on signs that the economy is improving after data showed that consumer spending is increasing.
- The Personal Consumption Expenditures price index rose 6% year over year in October.
- The Australian Dollar and the New Zealand Dollar were both up as investors moved into higher-risk assets.
| UK(GBP) | £0.82 | -2.64% | | Europe (EURO) | €0.95 | -1.99% | | Canada (Canadian Dollar) | $1.34 | -1.19% | | Japan (Yen) | ¥135.12 | -2.62% | *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 The chairman of the Commodity Futures Trading Commission, Rostin Behnam, said his agency could have prevented the FTX collapse if it had the authority to regulate crypto exchanges. - Coinbase has disabled NFT transfers through its mobile app after Apple demanded that Coinbase pay a 30% tax on fees used to transfer digital assets.
- Orca has integrated its payments with Stripe, allowing for fiat to crypto purchases.
- Polygon applications will soon be able to run on a decentralized API.
| Bitcoin | $16,957.90 | 3.20% | | Ethereum | $1,274.95 | -1.48% | | Litecoin | $77.46 | -2.31% | | Bitcoin Cash | $110.07 | -0.81% | *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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