Today's key market insights
|US markets
Stocks closed nearly flat on Friday after taking a dip earlier in the session following the release of higher-than-expected labor figures in the morning.
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All three major indexes were up on the week. The Nasdaq rose 2.1%, the S&P 500 gained 1.1%, and the Dow was up 0.2%.
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However, they were mostly flat on Friday, when the Nasdaq lost 0.2% and the S&P 500 and the Dow both fell 0.1%.
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The unemployment rate was steady at 3.7% in November, and wages rose 0.6% compared to a month earlier.
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The current 10 Year U.S. Treasury yield is set at 3.53440%.
| Market | Price | Move |
| Dow Jones | 34,429.88 | 0.10% |
| S&P 500 | 4,071.70 | -0.12% |
| Nasdaq | 11,461.50 | -0.18% |
| Russell 2000 | 1,892.84 | 0.59% |
Canadian markets
The unemployment rate in Canada decreased to 5.1% in November, from 5.2% a month earlier, as the labor market remains strong.
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The economy added 108,000 jobs in October and 10,000 in November.
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Statistics Canada said that the employment rate of women aged 25 to 54 reached 81.6% in November, a record high.
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Wages were up 5.6% year over year in November, which is below the annual inflation rate of 6.9%.
| Market | Price | Move |
| TSX | 20,485.66 | –0.19% |
European markets
European markets were down on Friday as investors continued to react to Covid related news in China and the release of positive employment data in North America.
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The Stoxx 600 lost 0.2% on the day, with declines led by oil and gas stocks, which dropped 1.1%.
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The retail sector led gains with a 0.7% increase.
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Hexatronic, a Swedish fiber optic firm, was the best-performing stock, gaining 8%, after announcing plans to acquire KNET, a telecommunications firm.
| Market | Price | Move |
| Euro STOXX 50 | 3,977.90 | -0.17% |
| UK (FTSE 100) | 7,556.23 | -0.03% |
| Germany (DAX) | 14,529.39 | 0.27% |
| France (CAC 40) | 6,742.25 | -0.17% |
Asian markets
Markets in Asia were down on Friday amid ongoing uncertainty about China’s plans to ease Covid restrictions as cases continue increasing in the country.
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The Economist Intelligence Unit published its Cost of Living Survey, which ranks Singapore and New York as the world’s most expensive cities.
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S&P and Morgan Stanley believe that India will be the world’s third-largest economy by 2030, overtaking Japan and Germany.
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South Korea recorded an inflation rate of 5% in November, slightly below expectations.
| Market | Price | Move |
| S&P Asia 50 | 4,423.85 | -0.57% |
| Japan (Nikkei 225) | 27,777.90 | -1.59% |
| South Korea (KOSPI) | 2,434.33 | -1.84% |
| China (Hang Seng) | 18,675.35 | -0.33% |
| India (SENSEX) | 62,868.50 | -0.66% |
Commodities
Oil prices decreased on Friday, ahead of the EU’s Russian crude ban coming into effect today.
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Brent crude and U.S. West Texas Intermediate crude both lost 1.5%.
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On the week, Brent was up 2.5% and U.S. West Texas Intermediate gained 5%.
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Russian oil output is expected to decline by 500,000 to 1 million barrels per day in 2023 due to the EU’s ban.
| Market | Price | Move |
| Oil (NYSEARCA: OIL) | 30.33 | -1.01% |
| Gold (NYSEARCA: GLD) | 167.26 | -0.35% |
| Silver (NYSEARCA:SLV) | 21.29 | 1.48% |
| Corn (NYSEARCA:CORN) | 25.85 | -1.26% |
| Lumber (NASDAQ:WOOD) | 76.57 | -0.43% |
Currency exchange rates
The U.S. Dollar was down on Friday as Federal Reserve officials again indicated that rate hikes will likely decline.
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The U.S. Dollar Index lost 0.19% on the day.
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The Fed is currently expected to raise interest rates by 50 basis points at its next meeting.
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The Personal Consumption Expenditures Price Index rose 0.3% in September.
| Market | Price | Move |
| UK(GBP) | £0.81 | -0.31% |
| Europe (EURO) | €0.95 | -0.09% |
| Canada (Canadian Dollar) | $1.35 | 0.48% |
| Japan (Yen) | ¥134.32 | -0.63% |
Cryptocurrency
Crypto markets were flat over the weekend after suffering from volatility on Friday.
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Celsius has started putting assets up for sale after filing for bankruptcy over the summer.
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$35.6 million in capital has been seized from Three Arrows Capital’s accounts in Singapore after the firm entered liquidation with $3.5B in debt.
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Hackers took $15M from Helio on Friday, only hours after Ankr was attacked, with $5M taken.
| Market | Price | Move |
| Bitcoin | $16,934.90 | -0.14% |
| Ethereum | $1,263.71 | -2.46% |
| Litecoin | $75.92 | -2.59% |
| Bitcoin Cash | $110.90 | 0.46% |
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