US Markets U.S. stock futures were up slightly overnight after a positive start to the trading week for equities. - Lyft rose after hours as the company announced that its cofounders would be leaving their day-to-day roles.
- 8 of 11 major sectors of the S&P 500 closed up on Monday. Energy stocks led gains with a 2.1% increase.
- Banking stocks, including regional banks, were up on the day despite the recent turmoil in the banking sector.
- The current 10 Year U.S. Treasury yield is set at 3.52700%
| Dow Jones | 32,432.08 | 0.60% | | S&P 500 | 3,977.53 | 0.16% | | Nasdaq | 11,768.84 | -0.47% | | Russell 2000 | 1,753.67 | 1.08% | *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 The federal government is set to release its budget, which officials said will be fiscally restrained following criticism that high spending in 2022 fueled inflation. - The budget is expected to include financing to stoke the country's green energy transition. These funds would seek to counteract the Inflation Reduction Act passed in the U.S. last year, which provides $400B worth of funding and tax benefits for clean energy, battery storage, and electric vehicles.
- The budget is expected to include additional spending for healthcare, as well as measures to ease inflationary pressures.
- In order to get enough votes to approve the budget, the minority government will need to include funds for New Democratic Party priorities.
- It's unclear if the government will seek to increase taxes. While some analysts say that rising taxes could help stabilize public finances, others say that such a move could prove unpopular.
*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 rose on Monday as investors were more optimistic about the banking sector following recent volatility. - The Stoxx 600 gained 1.1%, and all sectors finished up on the day.
- Automotive and healthcare stocks both rose around 1.9%, leading gains.
- The positive sentiment in Europe started with the announcement late Sunday night (Pacific Time) that First Citizens Bank would purchase parts of Silicon Valley Bank. Subsequently, Deutsche Bank shares gained 6%.
| Euro STOXX 50 | 4,164.62 | 0.82% | | UK (FTSE 100) | 7,471.77 | 0.90% | | Germany (DAX) | 15,127.68 | 1.14% | | France (CAC 40) | 7,078.27 | 0.90% | *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 Tuesday as investors reacted to positive banking news in Europe and the U.S. - Australian stocks were boosted by the news after falling last week due to pressure on their banks. Macquarie Group, Westpac, National Australia Bank, and Commonwealth Bank of Australia all saw gains.
- South Korea's financial industry also started to recover, with Shinhan Financial Group and KB Financial Group both rising by 3.5%.
- In Japan, Mitsubishi UFJ Financial Group, Mizuho Financial Group, and Sumitomo Mitsui Financial Group were all up.
| S&P Asia 50 | 4,623.51 | -1.61% | | Japan (Nikkei 225) | 27,536.96 | 0.22% | | South Korea (KOSPI) | 2,417.17 | 0.33% | | China (Hang Seng) | 19,567.69 | -1.75% | | India (SENSEX) | 57,653.86 | 0.22% | *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 rose on Monday after Iraq had to reduce crude oil exports following a ruling by an arbitrator. - Following the ruling, Turkey stopped a pipeline that transports around 450,000 barrels of crude oil per day from Iraq's semi-autonomous Kurdistan region to the Turkish port of Ceyhan.
- The pipeline will not restart operations until Iraq, Turkey, and the Kurdistan Regional Government reach a settlement.
- Oil prices were also supported by the purchase of SVB, which eased fears about a potential banking crisis and its effects on oil demand.
- According to new estimates by China National Petroleum Corp., the country's oil imports are set to rise by 6.2% this year.
| Oil (NYSEARCA:OIL) | 27.95 | 5.13% | | Gold (NYSEARCA:GLD) | 181.95 | -0.93% | | Silver (NYSEARCA:SLV) | 21.22 | 0.00% | | Corn (NYSEARCA:CORN) | 25.25 | 1.43% | | Lumber (NASDAQ:WOOD) | 69.86 | 0.02% | *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 five-day high against the Japanese Yen. - The U.S. Dollar Index fell 0.27% on the day, to 102.84.
- The S&P 500 Banks Index rose 3.49% as investors gained confidence in the industry.
- The Bank of England signaled that, despite the turmoil in the banking industry, it may continue rising interest rates because its priority is to fight inflation.
| UK(GBP) | £0.81 | -0.66% | | Europe (EURO) | €0.92 | -0.29% | | Canada (Canadian Dollar) | $1.36 | -1.12% | | Japan (Yen) | ¥130.88 | 0.10% | *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 fell significantly after the Commodity Futures Trading Commission initiated a lawsuit against Binance for violating commodities trading laws designed to prevent and detect money laundering and terrorism financing. - Bitcoin suffered another big drop when Coinbase was issued a Wells Notice by the SEC last week.
- Despite regulatory actions on large cryptocurrency companies, Bitcoin has gained more than 16% this month.
- Regardless of the recent turbulence, analysts believe that the foundations of a new long-term bull run have already been established.
| Bitcoin | $27,101.80 | -1.42% | | Ethereum | $1,714.71 | -3.45% | | Litecoin | $89.08 | -4.64% | | Bitcoin Cash | $121.08 | -3.32% | *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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