US Markets The Nasdaq rose on Monday as the technology sector saw outsized gains while the rest of the market struggled. - Tesla shares were up more than 6% on the day after declining significantly last week.
- The S&P 500 has gained 1.1% this year, and 83% of the time that the index is up in the first five trading days, it finishes the year up.
- The current 10 Year U.S. Treasury yield is set at 3.52830%
| Dow Jones | 33,517.65 | -0.34% | | S&P 500 | 3,892.09 | -0.08% | | Nasdaq | 10,635.65 | 0.63% | | Russell 2000 | 1,795.91 | 0.17% | *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 management team of Canaccord Genuity Group Inc is trying to take the company private after its stock fell 48% in the last 15 months. - The financial services company, which was founded in 1950, has been a publically traded firm for the last 18 years.
- The management team, which owns more than 21% of the company, is looking to buy shares for $11.25, which is above the $8.61 price at which they closed on Friday.
- After reviewing the offer, an independent panel representing the board said it cannot recommend that investors sell their shares at the offering price. The panel said it is open to other competing offers and has hired RBC to conduct a valuation.
- The management said it has secured a $825M loan to finance the transaction.
*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 Stocks in Europe rose to their highest point since May 2022 as market sentiment remains high across the continent. - The Stoxx 600 gained 0.9%, led by technology stocks which rose 3.4%
- The Swiss National Bank lost $143B in the fiscal year 2022, the largest loss in its 116-year history.
- Unemployment in the Eurozone was still at a record-low level in December despite a decline in economic activity.
| Euro STOXX 50 | 4,068.62 | 1.26% | | UK (FTSE 100) | 7,724.94 | 0.33% | | Germany (DAX) | 14,792.83 | 1.25% | | France (CAC 40) | 6,907.36 | 0.68% | *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 markets are up as China continues to reopen its economy and remove COVID-19 restrictions. - All quarantine requirements for those traveling to Hong Kong and mainland China were lifted over the weekend.
- Casino stocks rose as a result, with MGM China gaining 4.52%, Wynn Macau rising 4.25%, and Sands China up 3.89%.
- Alibaba gained 5.8% after reports that Jack Ma had given up control of the company.
| S&P Asia 50 | 4,841.49 | 3.10% | | Japan (Nikkei 225) | 26,217.04 | 0.94% | | South Korea (KOSPI) | 2,359.39 | 0.39% | | China (Hang Seng) | 21,261.49 | -0.59% | | India (SENSEX) | 60,747.31 | 1.41% | *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 rose on Monday due primarily to investors' belief that oil demand will increase as China reopens. - Brent was up 1.37% on Monday and U.S. West Texas Intermediate crude gained 1.17%.
- Both benchmarks were down more than 8% last week, their worst week in seven years.
- According to a government estimate, there will be 2 billion trips during China's Lunar New Year celebrations, a two-fold increase from last year.
| Oil (NYSEARCA:OIL) | 28.55 | 1.60% | | Gold (NYSEARCA:GLD) | 174.10 | 0.22% | | Silver (NYSEARCA:SLV) | 21.74 | -0.82% | | Corn (NYSEARCA:CORN) | 25.92 | -0.04% | | Lumber (NASDAQ:WOOD) | 75.83 | 0.54% | *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 is at a 7-month low against the Euro as investors try to discern if the Fed will continue with its hawkish approach to fight inflation. - A consumer survey showed that Americans believe interest rates will climb to 5% this year.
- Q4 2022 was the worst quarter for the U.S. Dollar in 12 years.
- Activity in the service sector was down in December for the first time in 30 months.
- The U.S. Dollar Index lost over 1% on Monday.
| UK(GBP) | £0.82 | -0.59% | | Europe (EURO) | €0.93 | -0.60% | | Canada (Canadian Dollar) | $1.34 | -0.40% | | Japan (Yen) | ¥131.78 | -0.23% | *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 Traders in the crypto community are concerned because someone has purchased 50,000 contracts for Ether options with a $400 strike price expiring at the end of June for almost $500,000. These contracts would lose money unless Ether fell by 70% in the next six months. - 117 Parties have expressed interest in buying FTX assets as the company's liquidation continues, according to court documents.
- $500M in Robinhood shares have been seized in connection with the FTX bankruptcy proceedings.
- FTX's Alameda Research, as well as the SEC, the Department of Justice, and several state regulators oppose the $1B Binance deal to purchase Voyager's assets.
| Bitcoin | $17,187.20 | 1.44% | | Ethereum | $1,321.72 | 2.47% | | Litecoin | $81.19 | 3.30% | | Bitcoin Cash | $106.21 | 4.63% | *Exchange rates as of 7am 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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