US Markets Stock futures were flat overnight as investors await economic data that will be released later today. - Jobless claims, housing, and manufacturing data will all be released later today and will impact investors' market assessments.
- Netflix and Procter & Gamble, among others, will be reporting their quarterly earnings today.
- The current 10 Year U.S. Treasury yield is set at 3.36870%
| Dow Jones | 33,296.96 | -1.81% | | S&P 500 | 3,928.86 | -1.56% | | Nasdaq | 10,957.01 | -1.24% | | Russell 2000 | 1,854.36 | -1.59% | *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 Hudson's Bay said it plans to open 25 Zellers stores this summer and launch a new e-commerce site for the brand. - Zeller's was a nationwide discount retailer that closed all of its stores in 2013. Hudson's Bay owns the brand, but Target purchased Zeller's locations when they closed. After Target's Canadian rollout failed, there is an opportunity for a low-cost retailer in the country.
- The plan calls for nine stores in Ontario, five in Quebec, and four in British Columbia.
- There will be stores in seven of Canada's ten provinces and there will all be located within Hudson's Bay's existing stores.
- The timing of the relaunch fits the market conditions with many consumers looking for discount products. Zellers saw a significant increase in sales during the last recession but struggled afterward.
*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 were relatively flat on Wednesday, with the global economic outlook remaining the topic of discussion at the World Economic Forum in Davos, Switzerland. - The Stoxx 600 rose 0.2% on the day. Basic resource stocks led the gains with a 2.3% increase.
- Food and Beverage stocks were the worst performing, falling 1.4%.
- According to official data, the annual inflation rate in the U.K. decreased from 10.7% in November to 10.5% in December, the second month of declines since reaching a 41-year high of 11.1% in October.
| Euro STOXX 50 | 4,174.34 | 0.00% | | UK (FTSE 100) | 7,830.70 | -0.26% | | Germany (DAX) | 15,181.80 | -0.03% | | France (CAC 40) | 7,083.39 | 0.09% | *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 were down on Thursday morning in Asia following the negative sentiment from Wednesday's U.S. trading. - The Bank of Japan did not change its yield curve tolerance policy, which surprised investors and caused stock prices to fall.
- The unemployment rate in Australia reached 3.5% in December, up from 3.4% in November and higher than expected.
- Japan had a trade deficit in December as its imports grew by 20.6% year over year.
| S&P Asia 50 | 4,923.84 | 0.10% | | Japan (Nikkei 225) | 26,504.00 | -1.07% | | South Korea (KOSPI) | 2,362.23 | -0.26% | | China (Hang Seng) | 21,678.00 | 0.47% | | India (SENSEX) | 61,045.74 | 0.64% | *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 down amid increasing fears that an economic slowdown in the U.S. would undercut the increase in oil demand expected following China's reopening. - Brent crude lost 1.1% on the day and U.S. West Texas Intermediate crude was down 0.9%.
- Analysts estimate that global supply is down by 500,000 barrels per day due to sanctions on Russia, which is significantly less than predicted because China and India continue to purchase Russian oil.
- Analysts expect that official data due later today will show that U.S. crude inventories decreased by 600,000 barrels last week.
| Oil (NYSEARCA:OIL) | 30.22 | -1.63% | | Gold (NYSEARCA:GLD) | 177.08 | -0.29% | | Silver (NYSEARCA:SLV) | 21.57 | -2.00% | | Corn (NYSEARCA:CORN) | 26.73 | -0.89% | | Lumber (NASDAQ:WOOD) | 75.46 | -0.62% | *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 Japanese yen was down after the Bank of Japan decided not to change its yield curve control policy. - The U.S. Dollar gained nearly 3% against the Yen after the announcement before losing almost all of its gains during U.S. trading hours yesterday.
- The Australian and New Zealand Dollars continue to climb as investors move into risk-on assets.
- The British Pound rose after new data showed that inflation remains high, which could lead to more interest rate hikes.
| UK(GBP) | £0.81 | -0.97% | | Europe (EURO) | €0.93 | 0.37% | | Canada (Canadian Dollar) | $1.35 | 0.81% | | Japan (Yen) | ¥128.44 | 0.09% | *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 Crypto prices were down as more firms are being impacted by the FTX fallout. - ConsenSys has announced that 11% of its workforce will be let go at the Ethereum development company.
- Crypto exchange Bitzlato has been charged with laundering $700M in funds.
- Crypto brokerage Genesis Global Capital is reportedly planning to file for bankruptcy after being exposed to the bankruptcies of Three Arrows Capital and FTX.
| Bitcoin | $20,766.90 | -1.88% | | Ethereum | $1,522.92 | -2.73% | | Litecoin | $83.16 | -4.41% | | Bitcoin Cash | $120.07 | -3.16% | *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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