Market Outlook Futures rise slightly overnight

 

US Markets U.S. stock futures rose slightly overnight after markets ended in the green on Wednesday. Tech stocks led gains on Wednesday, with the Nasdaq rising 2%. Amazon jumped 3% and Meta and Netflix advanced more than 2%.  Luxury furniture company RH is down 5% overnight after missing earnings expectations. The stock is down 8% so far this year after falling more than 50% in 2022. Regional banks rose in aftermarket hours, with Western Alliance and PacWest gaining 3% and 2%, respectively. The current 10 Year U.S. Treasury yield is set at 3.57530% Dow Jones  32,717.60 1.00% S&P 500  4,027.81 1.42% Nasdaq  11,926.24 1.79% Russell 2000 1,771.60 1.08% *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 The Bank of Canada said it will likely end its quantitative tightening this year.  Deputy Governor Toni Gravelle said he expects the Bank of Canada's balance sheet to drop from $200B to $20B-$60B by the end of 2024. The bank is aiming for its balance sheet to be 1%-2% of Canada's GDP.  The Bank of Canada kept interest rates steady at 4.5% earlier this month.  TSX  19,837.65 0.92% *Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services

European Markets European stocks were up on Wednesday as fears of a larger banking crisis dissipated.  The Stoxx 600 rose 1.3% led by a 1.9% increase in bank stocks.  Tech stocks were the worst performing, falling 2.7% a day after they led gains in Europe.  UBS gained 4.5% after announcing that Sergio Ermotti will return as CEO to oversee the integration of Credit Suisse into the bank.  Euro STOXX 50  4,231.27 1.51% UK (FTSE 100)  7,564.27 1.07% Germany (DAX)  15,328.78 1.23% France (CAC 40) 7,186.99 1.39% *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.

Asian Markets Asian markets rose on Wednesday, led by a jump in technology stocks.  Alibaba's shares rose after the company announced that it would split into six different business groups.  The Hang Seng Tech index gained 2.4% led by a 13.7% surge in Alibaba shares.  Investors expect other large technology companies in China to follow the same strategy as Alibaba.  S&P Asia 50 4,731.92 1.53% Japan (Nikkei 225) 27,670.32 -0.77% South Korea (KOSPI) 2,454.38 0.43% China (Hang Seng) 20,106.70 -0.42% India (SENSEX) 57,960.09 0.60% *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.

Commodities Oil prices closed down slightly on Wednesday after a volatile trading day.  Brent crude lost 0.4% and U.S. West Texas Intermediate crude fell 0.1%.  Oil companies are starting to shut down production in Iraq's Kurdistan region following an arbitration decision.  Russia said that its oil output declined by 300,000 barrels per day in the three first weeks of March, less than the 500,000 projected decline.  Oil (NYSEARCA:OIL) 27.92 -0.52% Gold (NYSEARCA:GLD) 182.53 -0.50% Silver (NYSEARCA:SLV) 21.44 0.05% Corn (NYSEARCA:CORN) 25.29 0.00% Lumber (NASDAQ:WOOD) 70.54 0.85% *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 was up slightly on Thursday morning as investors focused on whether the Federal Reserve will continue to aggressively support the currency. The Japanese Yen fell significantly on Wednesday, after a volatile day for Japanese markets, but rose on Thursday morning.  The British Pound held steady but is near a two-month high after gaining nearly 3% against the USD so far this month.  Investors are currently predicting a 60% chance that the Federal Reserve will not raise rates at its next meeting.  UK(GBP) £0.81 -0.02% Europe (EURO) €0.92 -0.22% Canada (Canadian Dollar) $1.36 -0.55% Japan (Yen) ¥132.68 1.10% *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 rose above $28,000 again on Wednesday despite increasing regulatory oversight surrounding crypto.  Bitcoin has gained 72% since the start of the year and is on pace for its best quarter in two years. Fetch.ai has raised $40M for its decentralized machine learning network.  Lido will terminate its staking service on Polkadot and Kusama.  Bitcoin $28,502.60 4.94% Ethereum $1,787.34 0.77% Litecoin $90.35 1.36% Bitcoin Cash $123.05 2.12% *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, .