US Markets Stock futures were up overnight as investors expect to extend last week's winning streak despite concerns over the banking industry. - The Nasdaq jumped 1.7% last week, the S&P 500 rose 1.4%, and the Dow gained 1.2%.
- Data shows that the outflow from small regional banks to large institutions has been slowing, but First Republic and PacWest were both down significantly last week and could struggle to bolster their balance sheets.
- The current 10 Year U.S. Treasury yield is set at 3.37620%
| Dow Jones | 32,237.53 | 0.41% | | S&P 500 | 3,970.99 | 0.56% | | Nasdaq | 11,823.96 | 0.31% | | Russell 2000 | 1,734.92 | 0.85% | *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 Canada's restaurant industry will likely be negatively impacted by the steepest alcohol tax increase in over four decades, which will come into effect on April 1. - The tax is a blow to an industry that has been negatively impacted in the past years by lockdowns, labor shortages, and supply chain issues.
- The average casual dining restaurant is expected to pay an additional $30,000 yearly in taxes.
- The price of a standard 750ml liquor bottle is expected to increase by 70 cents for consumers purchasing directly for personal consumption.
*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 fell on Friday as investors continued to react to central bank announcements from across the continent. - The Stoxx 600 lost 1.4% on Friday.
- Bank stocks dropped nearly 4% after European Central Bank President Christine Lagarde said the bank will provide liquidity to banks if needed.
- Deutsche Bank fell 8.5% on Friday, while UBS, Societe General, Barclays, and BNP Paribas were all also down.
| Euro STOXX 50 | 4,130.62 | -1.82% | | UK (FTSE 100) | 7,405.45 | -1.26% | | Germany (DAX) | 14,957.23 | -1.66% | | France (CAC 40) | 7,015.10 | -1.74% | *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 Asian markets were mixed on Monday morning as investors continue to be concerned about the banking industry. - Specific fears continue around Deutsche Bank as Asian markets had their first chance to react to the sell-off of the bank's U.S.-listed shares on Friday.
- The Hang Seng Tech Index lost nearly 3%, leading losses in the region.
- Markets in Australia and Japan closed up slightly on Monday.
| S&P Asia 50 | 4,622.68 | -1.98% | | Japan (Nikkei 225) | 27,471.17 | 0.31% | | South Korea (KOSPI) | 2,406.44 | -0.35% | | China (Hang Seng) | 19,589.72 | -1.64% | | India (SENSEX) | 57,527.10 | -0.69% | *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 fell on Friday after U.S. Energy Secretary Jennifer Granholm said it could take years to refill the Strategic Petroleum Reserve. - Investors had been hoping that with prices significantly lower than when the U.S. began selling reserves, the government would look to replenish the reserve at this lower price this year, thus adding demand to the market and increasing the cost of oil.
- Brent fell 1.3% on Friday and U.S. West Texas Intermediate lost 1.1%.
- Both benchmarks were up slightly on the week, recovering from their worst week of 2023.
| Oil (NYSEARCA:OIL) | 26.61 | 0.05% | | Gold (NYSEARCA:GLD) | 183.65 | -1.13% | | Silver (NYSEARCA:SLV) | 21.22 | -0.28% | | Corn (NYSEARCA:CORN) | 24.87 | 1.93% | | Lumber (NASDAQ:WOOD) | 69.72 | 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 rose on Friday after the falling stock prices of Deutsche Bank and UBS negatively impacted the Euro. - The U.S. Dollar Index gained 0.6% to 103.09.
- The British Pound hit a seven-week high last week after the Bank of England raised interest rates.
- The Yen, Franc, and U.S. Dollar have benefited from the rising demand for save-haven investments.
Currency Exchange Rates | UK(GBP) | £0.82 | -0.18% | | Europe (EURO) | €0.93 | 0.05% | | Canada (Canadian Dollar) | $1.37 | -0.55% | | Japan (Yen) | ¥130.60 | -0.11% | *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 again over the weekend, testing the $28,000 threshold after falling late last week. - The outcome of Coinbase's recent legal issues with the SEC could dominate the industry this week and provide insights into future crypto regulations as the financial markets remain unstable.
- The Nasdaq is aiming to launch its crypto custody service by the end of June.
- Do Kwon, the founder of Terraform Labs, has been arrested and charged with document forgery.
| Bitcoin | $27,913.80 | 1.63% | | Ethereum | $1,767.62 | 1.37% | | Litecoin | $92.59 | 1.08% | | Bitcoin Cash | $124.14 | 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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 |  | | |   | | 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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