US interest rate decision today
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US Markets U.S. stock futures are down overnight as investors await the Federal Reserve's interest rate due decision later today. - Markets have priced in a 25-basis point interest rate hike. A larger increase could cause a significant decline in stock prices as it would raise the cost of capital for businesses.
- Snapchat slumped 14% in after-hours trading after the company reported lower-than-expected earnings.
- Chipmaker AMD rose after beating earnings expectations.
- Electronic Arts fell after its earnings report missed expectations.
- The current 10 Year U.S. Treasury yield is set at 3.50490%
| Dow Jones | 34,086.04 | 1.09% | | S&P 500 | 4,076.60 | 1.46% | | Nasdaq | 11,584.55 | 1.67% | | Russell 2000 | 1,931.94 | 2.45% | *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 According to a Statistics Canada report released on Tuesday, the country's economy grew 1.6% year over year in Q4 2022. - The Canadian economy grew 2.9% in Q3 and 3.2% in Q2 2022.
- Construction was down 0.7% in Q4 as fewer single detached homes were built, and home improvement spending declined.
- Q4 growth beat the Bank of Canada's projection of a 1.3% expansion.
- According to the report, the Canadian economy grew by 3.6% in 2022.
*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 down on Monday after the release of Eurozone growth data. - The Stoxx 600 lost 0.2% on Tuesday, the last day of January, but finished the month up 6.72%.
- Basic resource stocks were the worst performing on Tuesday, losing 1.2%, while food and beverage led gains, up 0.9%.
- Data showed that the Eurozone economy grew 0.1% in Q4 2022. Economists had expected a 0.1% contraction.
| Euro STOXX 50 | 4,163.45 | 0.12% | | UK (FTSE 100) | 7,771.70 | -0.17% | | Germany (DAX) | 15,128.27 | 0.01% | | France (CAC 40) | 7,082.42 | 0.01% | *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 up ahead of the Federal Reserve's decision today. - The Purchasing Managers' Index in Japan was steady from December to January at 48.9, indicating that factory activity is still declining.
- South Korea reported the most significant trade deficit since records started in the 1950s. The country had a trade deficit of $47.5B in 2022; the previous record was a $20.6B deficit in 1996.
- Sea Limited was down nearly 6% after announcing plans to expand operations in Malaysia.
| S&P Asia 50 | 5,013.16 | -1.33% | | Japan (Nikkei 225) | 27,462.34 | 0.49% | | South Korea (KOSPI) | 2,443.83 | 0.77% | | China (Hang Seng) | 21,864.77 | 0.10% | | India (SENSEX) | 59,549.90 | 0.08% | *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 up on Tuesday after new data showed that U.S. demand increased in late 2022. - Brent crude rose 1% and U.S. West Texas Intermediate crude gained 1.3%.
- The Energy Information Administration reported that U.S. demand for crude and petroleum products rose by 178,000 barrels between August and November 2022.
- Analysts predict that Brent crude prices will average just over $90 per barrel this year, up from around $85 at present.
| Oil (NYSEARCA:OIL) | 30.13 | 2.03% | | Gold (NYSEARCA:GLD) | 179.41 | 0.36% | | Silver (NYSEARCA:SLV) | 21.83 | 0.78% | | Corn (NYSEARCA:CORN) | 26.58 | 0.00% | | Lumber (NASDAQ:WOOD) | 78.44 | 1.95% | *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 made significant gains during Tuesday's Asia and European trading hours before falling after U.S. wage data was released. - Data showed that U.S. labor costs rose 1% in Q4 2022, the smallest increase in a year.
- The U.S. Dollar Index closed down 0.21% on Tuesday despite hitting a two-week high earlier in the day.
- The index fell 1.39% in January, which compares to a 2.26% drop in December and a 5.07% decline in November.
| UK(GBP) | £0.81 | 0.72% | | Europe (EURO) | €0.92 | 0.14% | | Canada (Canadian Dollar) | $1.33 | 0.04% | | Japan (Yen) | ¥130.05 | 0.14% | *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 rose slightly on Tuesday as the Federal Reserve held its first day of meetings ahead of today's interest rate decision. - Bitcoin fell in the morning, following negative momentum from Monday, but it rebounded later in the day and ended up gaining 0.5% during U.S. trading hours.
- Bitcoin is up 40% so far this year but an aggressive interest rate hike, which seems unlikely, could see most or all of those gains erased.
- Decentraland is up more than 150% so far this year after announcing a series of new features in mid-January.
| Bitcoin | $23,101.80 | -2.87% | | Ethereum | $1,586.54 | 1.23% | | Litecoin | $96.47 | 5.57% | | Bitcoin Cash | $134.18 | -1.76% | *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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