Euro Rises as Dollar Falls
| Part of  Network | |
 Presented by  |
US Markets Stock futures were down overnight after a volatile trading day in U.S. markets. - Some companies had to halt trading on the Nasdaq due to a technical glitch in the morning, with many trades being reversed. This led to unexpected movements, such as Palantir falling 17% on opening before recovering almost all of its losses to finish down 2% on the day.
- Microsoft has been volatile in after-hours trading. The company's quarterly earnings came in above estimates thanks to strong growth in cloud services, but its revenue forecast for the current quarter fell below what analysts had expected.
- The current 10 Year U.S. Treasury yield is set at 3.45440%
| Dow Jones | 33,733.96 | 0.31% | | S&P 500 | 4,016.95 | -0.07% | | Nasdaq | 11,334.27 | -0.27% | | Russell 2000 | 1,885.61 | -0.27% | *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.
| |
 A message from CNOTE This year you can do both. Start impact investing and lock in competitive returns. 83% of consumers think that companies should be actively shaping ESG best practices. You can impress 100% of them by the end of the quarter. Trusted by name brands like Netflix, Apple, and Mastercad, CNote’s Impact Cash™ solution streamlines the process of impact investing without sacrificing yield. Plus, we throw in a few bonuses: - FDIC and NCUA insurance
- Capital preservation
- Enjoy administrative efficiency
- Quarterly transparent impact reporting on your investments
A pretty good deal for a single investment that targets your ESG and DEI goals while earning a financial return, right? Learn what your cash can achieve when you lead on ESG with our sample impact report. Download The Report
| |
Canadian Markets Economists predict that the Bank of Canada will raise interest rates today for the eighth straight time. - The consensus view is that this will be a 25-basis-point (bps) hike and that policymakers will keep borrowing costs steady after this rate increase.
- Inflation has been slowing since August but the annual rate is currently at 6.3%, significantly above the Bank of Canada's 2% target.
- A 25 bps hike would bring the benchmark interest rate to 4.50%.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
| |
 A message from HONE The New Model of Live, Cohort-Based Leadership Development Download your copy of Josh Bersin’s latest report, which unpacks how the definition of leadership has evolved and how digitally enabled synchronous learning experiences support development for today’s leaders. Download the report
| |
European Markets European markets were down on Tuesday as investors reacted to new data from the Eurozone. - The Stoxx 600 lost 0.2%, led by a 1.3% fall in oil and gas stocks.
- Travel and leisure stocks bucked the trend, gaining 1.4% on the day.
- The S&P Global Purchasing Managers Index (PMI) in came in at 50.2 which indicates that the Eurozone saw modest growth in January.
- The UK's PMI showed a small contraction in services and manufacturing this month, which S&P Global blamed on strike action, rampant inflation, and higher interest rates.
| Euro STOXX 50 | 4,153.02 | 0.05% | | UK (FTSE 100) | 7,757.36 | -0.35% | | Germany (DAX) | 15,093.11 | -0.07% | | France (CAC 40) | 7,050.48 | 0.26% | *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
Asian Markets Stocks in Asia were mixed on Tuesday, as well as Wednesday morning. - Inflation in Australia hit a 32-year high of 7.8% in the last quarter of 2022, with the largest increases happening in domestic and international travel.
- New Zealand's annual inflation rate remained at 7.2% in December as construction and rental prices increased in the country.
- Chinese markets (including Hong Kong) remain closed for the Lunar New Year.
| S&P Asia 50 | 5,019.91 | 2.07% | | Japan (Nikkei 225) | 27,297.83 | 0.00% | | South Korea (KOSPI) | 2,428.21 | 1.38% | | China (Hang Seng) | 22,044.65 | 1.82% | | India (SENSEX) | 60,978.75 | 0.06% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
Commodities Oil prices lost ground as concerns about an economic downturn resurfaced and investors became increasingly wary of the U.S.'s buildup of oil inventories. - Brent crude lost 1.3% on the day and U.S. West Texas Intermediate fell 1.2%.
- JP Morgan believes that oil prices are unlikely to rise above $100 per barrel in 2023 unless geopolitical tensions drive prices up.
- OPEC+ is expected to announce that it will maintain its current output level when it meets next week.
| Oil (NYSEARCA:OIL) | 30.54 | -1.52% | | Gold (NYSEARCA:GLD) | 180.28 | 0.36% | | Silver (NYSEARCA:SLV) | 21.76 | 0.83% | | Corn (NYSEARCA:CORN) | 26.50 | 1.34% | | Lumber (NASDAQ:WOOD) | 76.59 | 0.10% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
| |
Currencies The U.S. dollar continues falling while the Euro is making gains amid reports that the Eurozone may avoid a recession this year. - The Euro is less than half a cent from a nine-month high against the USD.
- The British Pound was down after data indicated that economic activity in the U.K. may have declined in January.
- The USD continues to gain on the Yen after hitting an eight-month low last week.
| UK(GBP) | £0.81 | 0.65% | | Europe (EURO) | €0.92 | -0.27% | | Canada (Canadian Dollar) | $1.34 | -0.09% | | Japan (Yen) | ¥130.25 | 0.69% | *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.
| |
Cryptocurrency Crypto prices were slightly down on Tuesday as the broader technology industry fell. - QuickNode raised another $60M in a Series B round that values the company at $800M.
- Porsche paused its NFT project after backlash against the initiative.
- Coinbase reported an increase in transaction volumes in January.
| Bitcoin | $22,519.70 | -0.86% | | Ethereum | $1,537.27 | -5.65% | | Litecoin | $86.95 | -3.32% | | Bitcoin Cash | $126.97 | -1.31% | *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.
| |
 |  | 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. | |
Operational ease, capital preservation, competitive returns and ESG performance? Impact Cash™ | |
| |
| 767 Bryant St. #203, San Francisco, CA 94107
Copyright © 2023 Inside.com | |
| |
