Ethereum rising ahead of fork
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U.S. Markets Stock futures were flat overnight as investors digested recent economic data. - On Wednesday, private payroll data from ADP showed that job growth slowed down in March.
- A day earlier, a Labor Department report showed that the number of jobs available in the U.S. fell below 10 million for the first time in two years in February.
- Costco shares dropped overnight after the retailer announced that same-store sales fell 1.1% in March.
- The current 10 Year U.S. Treasury yield is set at 3.30410%
| Dow Jones | 33,482.72 | 0.24% | | S&P 500 | 4,090.38 | -0.25% | | Nasdaq | 11,996.86 | -1.07% | | Russell 2000 | 1,752.13 | -0.99% | *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 Toronto Regional Real Estate Board reported that the average price of a home in the city increased last month for the first time since May 2022. - The average price in March was $1,108,606, up from $1,095,519 in February.
- Bidding wars are increasing, the board said, a sign that housing demand is on the up.
- Prices are 16.2% lower than a year ago, and the number of sales has decreased by 37% since March 2020.
*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 for a third consecutive day. - The primary driver behind the decline is concern about the global economy's health.
- The Stoxx 600 closed down 0.16% on Wednesday. Stocks in the U.K. rose while those in France and Germany fell.
- Construction stocks were the worst performing, falling 2.6%.
- The banking sector dropped 0.7% as investors reacted to UBS' first shareholder meeting since its acquisition of Credit Suisse.
- Telecoms stocks gained 1.8%.
| Euro STOXX 50 | 4,298.36 | -0.39% | | UK (FTSE 100) | 7,662.94 | 0.37% | | Germany (DAX) | 15,520.17 | -0.53% | | France (CAC 40) | 7,316.30 | -0.39% | *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 Wednesday as they reacted to the U.S. reporting the lowest number of job openings in two years. - Stocks in New Zealand fell after the central bank announced a 50-basis-point interest rate hike.
- Stocks in Singapore rose after economic data showed that retail sales jumped 12.7% year over year in February.
- Markets closed down in Japan even though data showed the country's services sector grew for the seventh consecutive month.
| S&P Asia 50 | 4,722.16 | -0.13% | | Japan (Nikkei 225) | 27,813.26 | -1.68% | | South Korea (KOSPI) | 2,495.21 | 0.59% | | China (Hang Seng) | 20,274.59 | -0.66% | | India (SENSEX) | 59,689.31 | 0.99% | *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 flat again on Wednesday as investors continued to react to plans by OPEC+ to cut down output later this year. - Crude stockpiles in the U.S. fell by 3.7 million barrels, more than the 2.2 million projected by analysts. Gasoline and distillate stockpiles also decreased more than expected.
- Brent crude gained 0.1% on Wednesday and U.S. West Texas Intermediate crude fell 0.1%.
- New economic data released in the U.S. indicated that oil demand could decline in the coming months.
| Oil (NYSEARCA:OIL) | 30.49 | 0.20% | | Gold (NYSEARCA:GLD) | 187.83 | -0.08% | | Silver (NYSEARCA:SLV) | 22.94 | -0.13% | | Corn (NYSEARCA:CORN) | 24.91 | -0.12% | | Lumber (NASDAQ:WOOD) | 70.80 | -1.12% | *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 rose on Wednesday, recovering from the two-month low it hit a day earlier. - Despite this, investor sentiment surrounding the U.S. Dollar remains low as the currency has been steadily falling for weeks.
- The U.S. Dollar Index gained 0.4% on Wednesday to reach 101.87.
- The Canadian Dollar was flat after seeing significant gains in response to OPEC+'s decision to reduce crude oil production, which is expected to fuel demand for Canadian oil.
| UK(GBP) | £0.80 | -0.33% | | Europe (EURO) | €0.92 | 0.07% | | Canada (Canadian Dollar) | $1.35 | 0.17% | | Japan (Yen) | ¥130.83 | -1.13% | *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 Ethereum rose again on Wednesday as it continues to gain steam ahead of a network upgrade scheduled for next week. - The token is currently at a nine-month high and has significantly outperformed Bitcoin this month.
- The network upgrade will allow validators to withdraw Ether without needing to use a centralized exchange using the Beacon Chain.
- Ethereum experienced a similar rally in September before its last fork, which moved the currency to Proof of Stake.
| Bitcoin | $28,067.40 | 0.90% | | Ethereum | $1,899.79 | 1.47% | | Litecoin | $92.23 | -0.41% | | Bitcoin Cash | $126.85 | -0.75% | *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 lawyer who raised $250k with just an idea and turned it into a $35M tech startup.
He now teaches entrepreneurs how to Pitch, Negotiate and Strategize so they can do the same.
Let's Connect |   | | 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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