US Markets U.S. stock futures fell slightly overnight, following a rally on Wall Street as fears of further issues in the banking industry subsided. - First Republic Bank and other regional banks continue to rise overnight as they recover their losses from Monday.
- All 11 sectors of the S&P 500 closed up on Tuesday, led by communications stocks, which gained 2.75%, and financial stocks, which rose 2.2%.
- The current 10 Year U.S. Treasury yield is set at 3.69020%
| Dow Jones | 32,155.40 | 1.06% | | S&P 500 | 3,919.29 | 1.65% | | Nasdaq | 11,428.15 | 2.14% | | Russell 2000 | 1,776.89 | 1.87% | *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 Some economists recommend that the Liberal government lower spending and increase taxes in its next budget to support the efforts of the Bank of Canada to tame inflation. - The Canadian government faced criticism for its high fiscal spending in 2022, when the Bank of Canada increased interest rates to cool consumer spending.
- Prime Minister Trudeau has won several elections by promising large amounts of spending. Analysts are concerned that his popularity shows there is a political bias toward governments that run deficits, which benefit the current electorate at the cost of future generations.
- Some analysts are calling for new rules to prevent large deficits. When Trudeau was elected in 2015, the country had a balanced budget but his government had a deficit of $327.7B in 2020 — representing one-third of the Canadian National Debt, which is expected to reach $1.31T in 2026, up from $612B in 2015.
*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 stock markets rose on Tuesday, reacting positively to the stabilization of U.S. bank stocks. - The Stoxx 600 gained 1.45%, with all sectors finishing in the green.
- Banking was the best-performing sector, rising 2.45% after seeing losses on Monday.
- Credit Suisse fell amid concerns about the bank's balance sheet after it announced "material weaknesses" in its financial reporting for the last two years.
| Euro STOXX 50 | 4,179.47 | 2.02% | | UK (FTSE 100) | 7,637.11 | 1.17% | | Germany (DAX) | 15,232.83 | 1.83% | | France (CAC 40) | 7,141.57 | 1.86% | *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 were down on Tuesday as markets fell the effects of the negative trading day on Wall Street a day earlier. - Banking stocks and tech stocks continued falling on Tuesday, with the Hang Seng Tech Index down nearly 3%.
- Softbank lost nearly 4%, setting its second six-month low in two days.
- Stocks in Australia closed down following a decline in the banking industry.
| S&P Asia 50 | 4,440.76 | -1.98% | | Japan (Nikkei 225) | 27,222.04 | -2.19% | | South Korea (KOSPI) | 2,348.97 | -2.56% | | China (Hang Seng) | 19,247.96 | -2.27% | | India (SENSEX) | 57,900.19 | -0.58% | *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 hit a nine-week low after falling 3% on Tuesday. - Brent crude lost 3.1% on the day and U.S. West Texas Intermediate fell 3.35%.
- OPEC said that it still expects a 2.3% in oil demand from 2022 to 2023.
- U.S. stockpile data is due later today.
| Oil (NYSEARCA:OIL) | 27.38 | -3.52% | | Gold (NYSEARCA:GLD) | 176.83 | -0.58% | | Silver (NYSEARCA:SLV) | 19.89 | -0.55% | | Corn (NYSEARCA:CORN) | 24.61 | 0.78% | | Lumber (NASDAQ:WOOD) | 71.30 | 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.
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Currencies The U.S. Dollar fell slightly on Tuesday as inflation rose less than expected, leading some investors to forecast that the Federal Reserve will loosen its monetary policy. - The Consumer Price index rose 0.4% month over month in February, compared to a 0.5% monthly increase in January. On an annualized basis, inflation is currently at 6%.
- Analysts now expect the Fed will raise rates to just over 4.1% this year; last week, the projection was 5%.
- They see a 28.4% chance that the Fed will leave rates unchanged.
| UK(GBP) | £0.82 | -0.61% | | Europe (EURO) | €0.93 | -0.42% | | Canada (Canadian Dollar) | $1.37 | -0.57% | | Japan (Yen) | ¥134.47 | -0.38% | *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 broke $25k on Tuesday, hitting a nine-month high of $25,484 after U.S. inflation figures were released. - Bitcoin fell slightly later in the trading session, but the broader crypto market remained up on the day.
- a16z Crypto's head of policy said the SEC is "out of control" and that the current regulatory approach in the industry lacks clarity.
- The collapse of Signature Bank and Silicon Valley Bank, both popular among U.S. cryptocurrency companies, will likely prompt crypto firms to move funds overseas.
| Bitcoin | $24,778.30 | 11.85% | | Ethereum | $1,706.79 | 1.48% | | Litecoin | $84.56 | 3.29% | | Bitcoin Cash | $131.47 | 8.46% | *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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 |  | | |   | | 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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