Federal Reserve meeting starts today
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US Markets Stock futures rose slightly overnight as U.S. equities are headed toward their best January in three years. - January's market rally has been a surprise after stocks had their worst year since the Great Recession in 2022.
- The Nasdaq has gained 8.86% this month, the S&P 500 has risen 4.64%, and the Dow has climbed 1.72%.
- McDonald's, Caterpillar, GM, Pfizer, and AMD are set to report their earnings today.
- The current 10 Year U.S. Treasury yield is set at 3.53460%
| Dow Jones | 33,717.09 | -0.77% | | S&P 500 | 4,017.77 | -1.30% | | Nasdaq | 11,393.81 | -1.96% | | Russell 2000 | 1,885.72 | -1.35% | *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 The TSX was down on Monday after stocks fell early in the day. - The deadline to finalize a deal under which Rogers will acquire Shaw has been extended from today to Feb. 17.
- As part of the deal, Shaw will sell Freedom Mobile to Videotron to comply with anti-competition laws.
- The agreement needs to be approved by Industry Minister Francois-Philippe Champagne.
*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 were down on Monday as investors worldwide awaited the Federal Reserve meeting that starts today. - The Stoxx 600 lost 0.2%. The tech sector led losses with a 1.7% drop.
- The best-performing industry was food and beverage, which gained 0.7%.
- JD Sports shares were down after the British sports retailer said that hackers "may have" accessed the personal data of 10 million customers who made purchases between November 2018 and October 2020.
| Euro STOXX 50 | 4,158.63 | -0.46% | | UK (FTSE 100) | 7,784.87 | 0.25% | | Germany (DAX) | 15,126.08 | -0.16% | | France (CAC 40) | 7,082.01 | -0.21% | *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 are mixed ahead of the Federal Reserve's meeting this week. - Adani Entreprises stock lost 25% in January. As a result, Gautam Adani, the Indian Billionaire who was the world's second richest person last year, is out of the top 10. Adani is now worth $84.4B, down from $150B in September.
- South Korea's factory output dropped 7.3% In December, the worst fall since May 2020 and below expectations of a 5.1% decline.
- China's Purchasing Managers Index and Thailand's international trade data are both due out later today.
| S&P Asia 50 | 5,061.34 | -1.68% | | Japan (Nikkei 225) | 27,456.09 | 0.08% | | South Korea (KOSPI) | 2,453.53 | 0.12% | | China (Hang Seng) | 22,069.73 | -2.73% | | India (SENSEX) | 59,500.41 | 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 fell 2% on Monday, following earlier losses triggered by reports that Russian oil exports continue strong despite ongoing sanctions. - Brent fell 2.03% on the day and U.S. West Texas Intermediate crude dropped 2.23%.
- OPEC+ will meet tomorrow to determine its trade policy for the coming months.
- Prices briefly rose on Monday after a drone attack in Iran sparked supply fears.
| Oil (NYSEARCA:OIL) | 29.53 | -2.26% | | Gold (NYSEARCA:GLD) | 178.76 | -0.26% | | Silver (NYSEARCA:SLV) | 21.66 | -0.09% | | Corn (NYSEARCA:CORN) | 26.58 | 0.15% | | Lumber (NASDAQ:WOOD) | 76.91 | -1.36% | *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 U.S. Dollar was up slightly on Monday ahead of the Federal Reserve meeting today. - Analysts forecast that the Fed will raise rates by 25 basis points at the end of its two-day meeting tomorrow.
- The U.S. Dollar Index closed at 102.27, down from a peak of 114.78 in September.
- The Euro, Canadian Dollar, Swiss Frank, New Zealand Dollar, Australian Dollar, British Pound, Japanese Yen, and Chinese Yuan all fell less than 1% against the USD on Monday.
| UK(GBP) | £0.81 | 0.19% | | Europe (EURO) | €0.92 | 0.19% | | Canada (Canadian Dollar) | $1.34 | 0.37% | | Japan (Yen) | ¥130.26 | 0.29% | *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 was down almost 5% during U.S. trading hours on Monday but rose after markets closed. - This was the biggest decline for Bitcoin during a trading session since its 14% slump on Nov. 9.
- Coinbase shares fell by more than 8% on Monday.
- The declines came ahead of an expected interest rate hike by the Federal Reserve.
| Bitcoin | $22,772.80 | -1.04% | | Ethereum | $1,564.23 | -5.10% | | Litecoin | $93.49 | -1.43% | | Bitcoin Cash | $132.36 | -0.29% | *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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