Market Outlook Futures rise

 

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US Markets Stock futures rose overnight thanks to positive market momentum following a winning day on Monday.  Markets rebounded after UBS announced a deal to acquire Credit Suisse on Sunday.  First Republic Bank slumped 47% on Monday, bringing its losses this month to 90%. The decline comes following reports that JPMorgan Chase is advising the bank on strategic alternatives, which could include raising capital or selling the bank.  The current 10 Year U.S. Treasury yield is set at 3.48560% Dow Jones  32,244.58 1.20% S&P 500  3,951.57 0.89% Nasdaq  11,675.54 0.39% Russell 2000 1,744.99 1.11% *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 Housing prices in Canada fell for the 10th consecutive month in February.  Nationwide, prices were down 0.3% month over month and 4.7% year over year.  The largest declines were in Toronto (-2.7%) and Calgary (-2.4%), but most major cities saw declines, including Montreal, Edmonton, Halifax, and Hamilton.  Prices rose in British Columbia, led by Vancouver, where prices rose 3.8%, and Victoria, where prices jumped 1.9%.  TSX  19,519.43 0.68% *Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services

European Markets European stocks closed up on Monday despite suffering significant losses early in the day.  The Stoxx 600 fell 1.4% in the first 30 minutes of trading, dragged down by the banking sector, which dropped nearly 3%. Credit Suisse slumped over 60% in early trading and UBS lost more than 10%.  The index rebounded shortly after to finish up 1%, with every sector ending in the green.  Bank stocks closed up 1.3%. UBS also gained 1.3% but Credit Suisse finished down 56%.  Euro STOXX 50  4,119.42 1.34% UK (FTSE 100)  7,403.85 0.93% Germany (DAX)  14,933.38 1.12% France (CAC 40) 7,013.14 1.27% *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 Tuesday morning following the positive momentum from Monday's U.S. trading session.  Stocks jumped nearly 2% in Australia.  Markets in Japan are closed for a national holiday.  South Korea saw a significant decline in trade in the first 20 days of March, with exports falling by 17.4% and imports declining by 5.7% (measured on an annualized basis).  S&P Asia 50 4,451.44 -1.43% Japan (Nikkei 225) 26,945.67 0.00% South Korea (KOSPI) 2,395.88 0.70% China (Hang Seng) 19,118.87 0.62% India (SENSEX) 57,628.95 -0.62% *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 Monday, rebounding from their worst week so far this year.  Oil prices fell early on Monday but rose later in the day. Brent crude finished up 1% and U.S. West Texas Intermediate crude gained 1.1%.  Saudi Arabia's energy minister confirmed that OPEC+ plans to cut output by 2 million barrels per day for the rest of the year.  The International Energy Agency forecasts that demand for oil will "accelerate sharply over the course of 2023" thanks in part to an expected increase in air traveling.   There are concerns about the impact that higher U.S. stockpiles could have on supply. Oil (NYSEARCA:OIL) 26.00 1.40% Gold (NYSEARCA:GLD) 183.84 0.04% Silver (NYSEARCA:SLV) 20.69 0.29% Corn (NYSEARCA:CORN) 24.75 -0.16% Lumber (NASDAQ:WOOD) 70.47 1.42% *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, .

Currencies The U.S. Dollar was down as investors reacted to the UBS purchase of Credit Suisse, which boosted the Euro.  The U.S. Dollar Index is at a one-month low after losing 0.33%.  Investors expect the Federal Reserve to raise rates to 4.8% by May before holding interest rates at that level.  The Fed will make its next monetary policy announcement on Wednesday.  UK(GBP) £0.81 -0.77% Europe (EURO) €0.93 0.32% Canada (Canadian Dollar) $1.37 -0.65% Japan (Yen) ¥131.17 -0.51% *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 hovered around the $28,000 price point on Monday.  Some crypto analysts describe the current state of the market as "the great decoupling," as Bitcoin's price seems to now be determined by its value as an asset instead of simply moving in line with the technology industry.  However, Bitcoin is still strongly correlated with the Nasdaq. According to data from Coin Metrics, the correlation between the S&P 500 and Bitcoin is at its lowest point since September 2021.  Bitcoin $27,964.90 3.55% Ethereum $1,755.59 -1.58% Litecoin $79.03 -6.15% Bitcoin Cash $131.80 0.29% *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, .