US markets
Stocks were up on Tuesday, ending a four-day losing streak for U.S. equities.
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During a volatile session, stocks fell early in the day before rallying and falling again in the last hour of trading.
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Since reaching a 2022 high on Jan. 3, the U.S. stock market has lost $11.7T in value.
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The current 10 Year U.S. Treasury yield is set at 3.69180%
Market | Price | Move |
Dow Jones | 32,849.74 | 0.28% |
S&P 500 | 3,821.62 | 0.10% |
Nasdaq | 10,547.11 | 0.01% |
Russell 2000 | 1,747.99 | 0.54% |
Canadian markets
Retail spending shows signs of decline, a bad omen for the Canadian economy.
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Overall retail sales fell by 0.5% from October to November 2022.
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Sales of electronics were down 1%, clothing dropped 0.6%, sporting goods lost 0.5%, and music fell by 0.5%.
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Sales of fast food, beverages, and groceries increased.
Market | Price | Move |
TSX | 19,306.89 | 0.55% |
European markets
Stocks in Europe fell during a volatile trading session on Tuesday.
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The Stoxx 600 lost 0.4% on the day, with almost all sectors finishing in the red.
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The automotive industry was the worst performing, falling 1.5%.
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The banking industry gained 1.7%.
Market | Price | Move |
Euro STOXX 50 | 3,811.24 | 0.19% |
UK (FTSE 100) | 7,361.31 | 0.40% |
Germany (DAX) | 13,942.87 | 0.36% |
France (CAC 40) | 6,473.29 | 0.32% |
Asian markets
Stocks in Asia were down after the Bank of Japan increased its target range for the 10-year government bond yield.
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The bank kept its interest rates at -0.10%, surprising some investors.
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The bank said it will remain committed to its 2% inflation target despite concerns about the health of the economy and the Yen.
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The Bank of Japan has offered to purchase 600 billion yen in short-maturity government bonds.
Market | Price | Move |
S&P Asia 50 | 4,436.44 | -0.07% |
Japan (Nikkei 225) | 27,237.64 | -1.05% |
South Korea (KOSPI) | 2,352.17 | -0.33% |
China (Hang Seng) | 19,352.81 | -0.50% |
India (SENSEX) | 61,806.19 | 0.76% |
Commodities
Oil prices rose slightly on Tuesday despite a positive economic outlook due to concerns that winter storms in North America would cause a decline in travel.
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Brent was up 0.2% and U.S. West Texas Intermediate rose 1.5%.
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A surge in COVID-19 cases in China and bad weather in North America suggest a drop in oil demand in the coming weeks.
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A softer U.S. Dollar and the U.S.’s plan to restock its petroleum reserves created upward pressure on oil prices.
Market | Price | Move |
Oil (NYSEARCA:OIL) | 28.76 | 2.13% |
Gold (NYSEARCA:GLD) | 166.32 | -0.28% |
Silver (NYSEARCA:SLV) | 21.12 | -1.17% |
Corn (NYSEARCA:CORN) | 25.85 | -0.81% |
Lumber (NASDAQ:WOOD) | 72.43 | -0.90% |
Currency exchange rates
The Japanese Yen hit a four-month high as markets responded positively to policy tweaks by the Bank of Japan that lifted the yield on 10-year government bonds.
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The Yen had the best single-day rise in 24 years.
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The U.S. Dollar was down on the day, losing against all six other major fiat currencies.
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Investors estimate that the U.S. Dollar could fall to 125 Yen in the coming months, from around 132, as the Bank of Japan continues to support the currency.
Market | Price | Move |
UK(GBP) | £0.82 | -0.22% |
Europe (EURO) | €0.94 | -0.40% |
Canada (Canadian Dollar) | $1.36 | -0.64% |
Japan (Yen) | ¥131.95 | -3.37% |
Cryptocurrency
Crypto markets rose on Tuesday despite Auros Global saying that a court in the British Virgin Islands has granted the crypto trading firm a Provisional Liquidation.
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Auros Global claims that it can’t satisfy recalls from lenders because the collapse of FTX in early November led to a lack of immediate liquidity.
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Since then, the firm has been trying to restructure its debt.
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According to a court filing, Auros has over $20M in funds on FTX that have been frozen amid FTX’s ongoing bankruptcy proceedings.
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Auros believes that it will be able to resume normal operations after a restructuring.
Market | Price | Move |
Bitcoin | $16,895.90 | 0.92% |
Ethereum | $1,217.93 | 4.30% |
Litecoin | 65.93 | 4.11% |
Bitcoin Cash | $102.33 | 0.38% |
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