US Markets Stocks were up on Friday as investors had their first look at bank earnings. - All three major indexes were up last week. The Nasdaq gained 4.82%, the S&P 500 rose 2.67%, and the Dow climbed 2%.
- JP Morgan reported revenue of $35.57B in the fourth quarter, better than expected, but revealed a large loss in its consumer credit card portfolio. The bank's shares dropped 2% after the results were published.
- JP Morgan, Wells Fargo, Citigroup, and Bank of America indicated that they expect an economic slowdown in the coming months.
- The current 10 Year U.S. Treasury yield is set at 3.50530%
| Dow Jones | 34,302.61 | 0.33% | | S&P 500 | 3,999.09 | 0.40% | | Nasdaq | 11,079.16 | 0.71% | | Russell 2000 | 1,887.03 | 0.58% | *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 According to a new report by Royal LePage, home prices in Canada declined in Q4 2022 but are higher than before the pandemic. - Home prices were down 2.8% in 2022, the first annual decline since 2008, during the Great Recession.
- The Greater Toronto Area had the most significant drop, with home prices falling by 4.6%, followed by Vancouver where prices declined by 3.5%.
- Prices rose in some markets, including Calgary, which registered a 3.9% rise, and Montreal with a 2.2% increase.
*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 rose on Friday, reaching their highest level since April 2022. - The Stoxx 600 was up another 0.5% on the day, led by healthcare stocks, which rose 1.4%. Automotive stocks dragged down markets with a 1.7% drop.
- Kindred Group, an online gaming company, lost 17% after warning that its Q4 profits would be lower than expected.
- Official data shows that the German economy grew by 1.9% in 2022, while the UK's GDP gained 0.1% in November.
| Euro STOXX 50 | 4,150.80 | 0.58% | | UK (FTSE 100) | 7,844.07 | 0.64% | | Germany (DAX) | 15,086.52 | 0.19% | | France (CAC 40) | 7,023.50 | 0.69% | *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 mostly up on Friday as investors reacted positively to data showing that inflation is falling in the U.S. - China's exports fell by 9.9% in December, year over year, while imports dropped 7.5%.
- The Bank of Korea raised interest rates to 3.5%, the highest level since December 2008.
- Stocks in Japan fell after Fast Retailing, which owns Uniqlo, announced plans to raise wages by 40% in a bid to retain talent.
| S&P Asia 50 | 4,931.96 | 1.22% | | Japan (Nikkei 225) | 26,119.52 | -1.25% | | South Korea (KOSPI) | 2,386.09 | 0.89% | | China (Hang Seng) | 21,738.66 | 1.04% | | India (SENSEX) | 60,261.18 | 0.51% | *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 After rising on Friday oil prices saw their biggest weekly climb since October. - Brent crude was up 1.5% on Friday and U.S. West Texas Intermediate (WTI) gained 1.9%.
- Brent surged 8.6% last week and WTI jumped 8.4%.
- OPEC+ will meet at the start of February to discuss a potential change to production levels.
| Oil (NYSEARCA:OIL) | 30.44 | 2.46% | | Gold (NYSEARCA:GLD) | 178.76 | 1.20% | | Silver (NYSEARCA:SLV) | 22.33 | 2.06% | | Corn (NYSEARCA:CORN) | 26.63 | 0.49% | | Lumber (NASDAQ:WOOD) | 76.14 | -0.52% | *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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Currencies The Yen rose on Friday amid speculation that the Bank of Japan could change its monetary policy to prop up the national currency. - The Yen gained 1.06% on Friday, adding to a 1.24% increase on Thursday.
- The Bank of Japan is one of the few major central banks that has not increased interest rates significantly, instead continuing to rely on stimulus to improve the economy.
- The Bank of Japan will be meeting on Jan. 17 and 18 to discuss its next interest rate decision.
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Cryptocurrency Bitcoin has regained the $20k psychological threshold amid an industry-wide rally. - A bankruptcy judge has allowed FTX to sell LedgerX.
- Victims of BitConnect's scam will receive $17M in restitution paid from seized assets.
- MetaMask is adding staking via Lido and Rocket Pool.
| Bitcoin | $20,914.50 | 4.98% | | Ethereum | $1,554.60 | 0.19% | | Litecoin | $88.29 | 0.50% | | Bitcoin Cash | $125.37 | 0.63% | *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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