Market Outlook US inflation data higher than expected

 

US Markets U.S. stocks fell on Friday, contributing to their worst single-week performance of 2023.  The Nasdaq lost 3.3% last week, the Dow dropped 3%, and the S&P 500 fell 2.7%.  The personal consumption expenditures price index rose 0.6% month over month and 4.7% year over year in January. The increase was above analysts' expectations, leading investors to believe that the Federal Reserve will raise rates again.  The 10 Year U.S. Treasury yield is currently set at 3.95300% Dow Jones  32,816.92 -1.02% S&P 500  3,970.04 -1.05% Nasdaq  11,394.94 -1.69% Russell 2000 1,890.49 -0.92% *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? .

Canadian Markets According to a Bloomberg survey, 47% of Canadians think mortgage fraud is common in the country.  Mortgage fraud is when homebuyers lie about or exaggerate their income to receive a larger mortgage.  18% of the 1,521 Canadians surveyed said it is acceptable to misrepresent your employment or income to secure a mortgage.  Canada has experienced a 52% increase in mortgage fraud since 2013.  TSX  20,219.19 0.15% *Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services

European Markets European stocks fell on Friday amid negative momentum.  The Stoxx 600 lost 1%, with all sectors finishing in the red. Travel and leisure stocks led losses with a 3% drop. Germany's economy shrank by 0.4% in Q4 2022, above the government's 0.2% estimate. Consumer confidence is declining in France and Germany but rising in the U.K.  Euro STOXX 50  4,178.82 -1.86% UK (FTSE 100)  7,878.66 -0.37% Germany (DAX)  15,209.74 -1.72% France (CAC 40) 7,187.27 -1.78% *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.

Asian Markets Asian markets were largely down on Friday due to negative investor sentiment.  However, stocks in Japan rose after hours on Thursday as the next head of the Bank of Japan, Kazuo Ueda, spoke at his confirmation hearing.  In China, the Hang Seng, Shenzhen Component, and Shanghai Composite were all down on Friday.  Singapore said that manufacturing output declined 2.7% in full-year 2022 against an expected 2.9% increase.  S&P Asia 50 4,583.29 -1.33% Japan (Nikkei 225) 27,453.48 1.29% South Korea (KOSPI) 2,423.61 -0.63% China (Hang Seng) 20,010.04 -1.68% India (SENSEX) 59,463.93 -0.24% *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.

Commodities Oil prices rose slightly on Friday as investors continued to react to higher-than-expected declines in Russian oil production.  Brent crude and U.S. West Texas Intermediate crude both gained 1.2% on the day.  Oil prices have lost 15% over the past 12 months, even though they hit a 14-year high shortly after Russia invaded Ukraine in February 2022.  Oil trading volumes were below average last week, with Brent at 58% of its regular trading volume and WTI at 90%.  Oil (NYSEARCA:OIL) 29.18 1.35% Gold (NYSEARCA:GLD) 168.35 -0.71% Silver (NYSEARCA:SLV) 19.09 -2.75% Corn (NYSEARCA:CORN) 25.65 -1.72% Lumber (NASDAQ:WOOD) 72.59 -1.20% *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, .

Currency Exchange Rates The U.S. Dollar hit a seven-week high on Friday as it continues to climb in response to higher-than-expected inflation data.  The U.S. Dollar is at a two-month high against the Japanese Yen and a seven-week high against the Swiss Franc.  The U.S. Dollar Index rose 0.6% on Friday.  Money markets now expect that U.S. interest rates will hit a peak of 5.4% in July.  UK(GBP) £0.84 -0.04% Europe (EURO) €0.94 0.01% Canada (Canadian Dollar) $1.36 -0.02% Japan (Yen) ¥136.49 0.01% *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, .

Cryptocurrency Bitcoin was stable over the weekend after falling 6% last week.  Last week, Bitcoin ranked 22nd in the list of best-performing crypto assets with a market capitalization of over $1B.  Bitcoin is up 39% so far this year, while Ethereum has gained 32%.  Tezos is the best-performing major cryptocurrency after gaining 74% since the start of 2023.  Bitcoin $23,247.00 0.21% Ethereum $1,606.77 0.75% Litecoin $94.09 1.02% Bitcoin Cash $134.69 1.43% *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them,.