US Markets Stock futures were flat overnight as investors awaited the release of Consumer Price Index data this morning. - Stocks rose on Monday, after suffering their worst weekly drop since the start of the year last week.
- CPI data is expected to show a 6.2% increase in prices year over year in January and 0.4% month over month.
- The current 10 Year U.S. Treasury yield is set at 3.70250%
| Dow Jones | 34,245.93 | 1.11% | | S&P 500 | 4,137.29 | 1.14% | | Nasdaq | 11,891.79 | 1.48% | | Russell 2000 | 1,941.14 | 1.16% | *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 59% of Canadians expect to be negatively impacted by high interest rates. - According to a Nanos Research Group survey conducted for Bloomberg News, 14% of Canadians said they would benefit from the current level of borrowing costs, which are at a 15-year high.
- Younger Canadians are most likely to be negatively impacted, with 67% of those ages 18-34 expecting that high interest rates will negatively impact them, compared to 48% of those 55 or over.
- The Bank of Canada raised rates by 25 basis points in January, to 4.5%, and indicated that it plans to leave borrowing costs steady at its next meeting.
*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 up on Monday in anticipation of CPI data in the U.S., which will influence the next monetary policy decision by the Fed. - The Stoxx 600 rose 0.9% on the day, with household goods stocks gaining 2%.
- Stock markets in the U.K., France, Germany, Spain, and Italy were all up on the day.
- Saab was the best-performing stock, gaining 7.2%. The aerospace and defense firm said it expects to continue benefitting from strong demand stemming from the war in Ukraine, which helped the company increase revenues by 50% in 2022.
| Euro STOXX 50 | 4,241.36 | 1.03% | | UK (FTSE 100) | 7,947.60 | 0.83% | | Germany (DAX) | 15,397.34 | 0.58% | | France (CAC 40) | 7,208.59 | 1.11% | *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 rose on Monday and into Tuesday morning, ahead of the release of CPI data in the U.S. - India's annual inflation rate reached 6.52% in January, above the 5.72% reading for December 2022 and surpassing expectations of a 5.9% increase in prices.
- Singapore's budget, which was released today, includes measures to support economic growth and fight inflation.
- Markets in Australia are up as consumer sentiment in the country is improving.
| S&P Asia 50 | 4,932.44 | -0.17% | | Japan (Nikkei 225) | 27,651.66 | 0.82% | | South Korea (KOSPI) | 2,469.28 | 0.68% | | China (Hang Seng) | 21,164.42 | -0.12% | | India (SENSEX) | 60,431.84 | -0.41% | *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 closed up on Monday after entering negative territory earlier in the session. - Brent rose 0.3% on the day and U.S. West Texas Intermediate gained 0.5%.
- Prices are expected to rise in the short term as the Chinese economy continues to reopen and oil supply is declining due to restrictions on Russia.
- Oil is at a two-week high after both benchmarks gained 8% last week.
| Oil (NYSEARCA:OIL) | 30.00 | -0.99% | | Gold (NYSEARCA:GLD) | 172.48 | -0.51% | | Silver (NYSEARCA:SLV) | 20.20 | -0.20% | | Corn (NYSEARCA:CORN) | 26.77 | 0.41% | | Lumber (NASDAQ:WOOD) | 76.57 | 1.57% | *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 hit a six-week high against the Japanese Yen on Monday as investors are expecting that the Fed will leave rates unchanged at its next meeting. - Investors are predicting that U.S. interest rates will peak at 5.2%.
- The U.S. Dollar Index lost 0.34% on the day after the Euro and British Pound rose.
- The 10-year U.S. Treasury Yield is at a six-week high.
| UK(GBP) | £0.82 | -0.62% | | Europe (EURO) | €0.93 | -0.24% | | Canada (Canadian Dollar) | $1.34 | -0.27% | | Japan (Yen) | ¥132.12 | 0.54% | *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 has been relatively stable even though cryptocurrencies are currently under significant pressure. - Binance lost 6.5% on Monday, following reports that regulators are preparing to sue Paxos for selling BUSD as an unregistered security.
- Aave is considering freezing trading of the Binance stablecoin in response to the SEC's potential action.
- Banco do Brasil, the largest public bank in Brazil is allowing citizens to pay taxes using cryptocurrencies.
| Bitcoin | $21,732.40 | -0.66% | | Ethereum | $1,499.26 | -1.06% | | Litecoin | $90.81 | -1.78% | | Bitcoin Cash | $123.98 | -0.62% | *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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