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BUSINESS MARKETS OUT LOOK UPDATES
U.S. Market Information
Stock Futures are down slightly this morning, ahead of the first full week of trading of Q4 2021. Tech stocks are still struggling — Apple, Nvidia, and Microsoft are all down in premarket trading.
Merck is up 4% after gaining 8% on Friday, following news reports of an oral drug for COVID-19 that appears to reduce hospitalizations and deaths by 50%
Tesla shares are up 3% this morning, against the general tech trend, as the company announced it delivered 241,300 cars in Q3 2021, far above expectations.
The current 10 Year U.S. Treasury yield is set at 1.48850%, while the markets are still positive year to date! Let's take a look at how the major indexes have performed since January 1st:
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| Stock Market data as of the last closing bell. Data received directly from the references indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer. |
Canadian Markets
Economists warn that the end of the COVID-19 relief payments from the federal government planned for the end of the month could lead to significant pullbacks in consumer spending. The end of the programs is likely to significantly impact income rates and lower disposable income for many households.
The existing Employment Insurance and Canada Recovery Benefit programs offered as much as $1,000 per week to Canadians during the pandemic.
2.2 million people are currently receiving these benefits, which expire in three weeks.
According to some estimates, the Canadian economy would need to add 10,000 jobs to offset the economic impact of ending these programs.
European Markets
Markets in Europe are mixed, without any significant movement in either direction. This comes after investors dealt with volatile trading last month, and as they face rising U.S. Treasury yield, inflation and interest rate concerns, and potential announcements of bond-buying tapering plans by the U.S. Federal Reserve and other central banks.
Finance ministers from the Euro Zone will meet today to discuss monetary and fiscal policies to help the EU recover from the pandemic.
Kindred Group, a gambling operation based in Malta, is down 7.7% today, the most of the major European stocks; followed by BT and Nordea, both down over 6%.
Sainsbury's is up over 3.5% as there continues to be speculation that the supermarket chain could be an acquisition target in the coming months.
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| European stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services. |
Asian Markets
Stocks in Asia are down with significant declines and issues in Chinese markets.
Trading of both China Evergrande and Evergrande Property Services was stopped after the firm said there were upcoming announcements about a "possible general offer" of shares.
The trading of Hopson, another Chinese property developer, was also stopped as the firm has a pending purchase of another company's shares.
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| Asian stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services. |
Currency Exchange Rates
The U.S. Dollar has taken a step back over the weekend, following a strong run in the last few weeks leading to a year-long high.
Currently, the Dollar's value largely comes down to the Federal Reserves' plan to taper bond purchases, investors' use of the currency as an alternative to equities, and global oil trading markets.
All of these are factors to watch for the rest of the year as the economy recovers from the pandemic.
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| 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. |
