The Numbers: The Producer Price Index (all commodities), which measures the change in costs of commodities purchased by companies, was down 0.6% from February to March. Zoom Out: The index dropped 1.1% on an annualized basis in March, meaning the price of commodities such as food products, gas, and energy purchased by companies decreased slightly from a year ago. Impact: Despite the fall, consumer prices increased 4.99% in the past 12 months and 0.1% from February to March.
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US Markets Stock futures fell slightly overnight after markets ended in the green on Thursday. - Investors are preparing for corporate earnings season and continue to react to the latest inflation data.
- Lucid lost more than 5% overnight after reporting fewer cars delivered to customers than produced, indicating weaker demand.
- The Dow, S&P 500, and Nasdaq Composite are all on pace for a winning week as of Thursday's close.
- The current 10 Year U.S. Treasury yield is set at 3.44020%
| Dow Jones | 34,029.69 | 1.14% | | S&P 500 | 4,146.22 | 1.33% | | Nasdaq | 12,166.27 | 1.99% | | Russell 2000 | 1,796.68 | 1.30% | *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 Rent prices in Canada rose month over month for the first time since November, according to a report by Rentals.ca and Urbanation. - The report found that average rents across Canada rose 1% between February and March, bringing the average rent to $2,004 in March.
- Despite falling rents from November to March, rents have increased 10.8% year over year,
- Vancouver has the highest average rent, with a one-bedroom rental costing $2,743 per month.
*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 stocks closed higher on Thursday as investors continued to react to U.S. inflation data. - The Stoxx 600 gained 0.44%, led by the household goods sector.
- LVMH was the top stock in the index, rising 5.7% after reporting higher-than-expected earnings.
- The U.K.'s economy was flat in February; economists had predicted a 0.1% expansion.
| Euro STOXX 50 | 4,363.24 | 0.67% | | UK (FTSE 100) | 7,843.38 | 0.24% | | Germany (DAX) | 15,729.46 | 0.16% | | France (CAC 40) | 7,480.83 | 1.13% | *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 stocks fell on Thursday following the release of meeting minutes, in which the U.S. Federal Reserve warned of a potential recession in the aftermath of the banking turmoil in March. - Exports in China surged 14.8% in March after falling 6.8% in February.
- The Philippines’ central bank signaled that it might pause interest rate hikes next month.
- Alibaba shares (Hong Kong Listed) dropped 3.9% after SoftBank sold most of its stake in the company.
| S&P Asia 50 | 4,725.57 | 0.45% | | Japan (Nikkei 225) | 28,433.11 | 0.98% | | South Korea (KOSPI) | 2,574.67 | 0.51% | | China (Hang Seng) | 20,316.70 | -0.14% | | India (SENSEX) | 60,431.00 | 0.06% | *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 Thursday amid fears of a possible U.S. recession, which would lead to weaker oil demand - Brent crude fell 1.42% and U.S. West Texas Intermediate lost 1.32%.
- OPEC kept its forecast for global oil demand growth in 2023 unchanged.
- China's crude oil imports soared by 22.5% in March, reaching their highest level since June 2020.
| Oil (NYSEARCA:OIL) | 31.02 | -1.15% | | Gold (NYSEARCA:GLD) | 189.72 | 1.35% | | Silver (NYSEARCA:SLV) | 23.74 | 1.32% | | Corn (NYSEARCA:CORN) | 24.77 | -0.20% | | Lumber (NASDAQ:WOOD) | 72.91 | 0.75% | *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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Cryptocurrency Following the so-called "Shanghai upgrade," Ethereum gained over 10% and rose to over $2,100, its highest price point since May 2022. - The upgrade will provide more liquidity to Ether investors and stakers.
- Bitcoin gained around 3% during U.S. trading hours to reclaim the $30,000 threshold after slipping below that mark.
- So far this year, Bitcoin has surged 84% and Ethereum 75%.
| Bitcoin | $30,707.00 | 1.50% | | Ethereum | $2,109.91 | 9.99% | | Litecoin | $98.14 | 6.59% | | Bitcoin Cash | $133.94 | 3.60% | *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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