Today's key market insights
US markets
The Dow Jones rose on Friday, while the S&P and the Nasdaq were down on the half-day of trading.
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All three major indexes rose on the week. The Dow gained 1.78%, S&P 500 climbed 1.53%, and the Nasdaq was up 0.72%.
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Earnings have been solid, and consumer spending hasn’t dropped, which has helped increase investor confidence.
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The current 10 Year U.S. Treasury yield is set at 3.70010%.
| Market | Price | Move |
| Dow Jones | 34,347.03 | 0.45% |
| S&P 500 | 4,026.12 | -0.03% |
| Nasdaq | 11,226.36 | -0.52% |
| Russell 2000 | 1,869.19 | 0.30% |
Canadian markets
Data from Ratehub.ca shows that homebuyers in 2022 are paying up to 250% more in interest during the first year of their mortgage than in 2021.
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In October 2021, a homebuyer with a $600,000 mortgage would have paid an average of $12,310 in interest in the first 12 months.
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In October 2022, a homebuyer with a $600,000 mortgage would have paid an average of $30,819 in interest in the first 12 months.
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The average house price in Canada has decreased by 9.9% from October 2021 to October 2022.
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According to Canada Mortgage and Housing Corporation, the most common mortgage continues to be the five-year fixed rate with 25 years of amortization.
| Market | Price | Move |
| TSX | 20,383.77 | 0.20% |
European markets
European markets were flat on Friday following an upward trend in the first four days of the week.
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The Stoxx 600 lost 0.25% on Friday after gaining at the start of the session before a downturn.
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The Stoxx 600 had its sixth consecutive winning week and also hit a three-month high last week.
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Credit Suisse shares are at an all-time low after losing more than 5%.
| Market | Price | Move |
| Euro STOXX 50 | 3,962.41 | 0.01% |
| UK (FTSE 100) | 7,486.67 | 0.27% |
| Germany (DAX) | 14,541.38 | 0.01% |
| France (CAC 40) | 6,712.48 | 0.08% |
Asian markets
Shares in Asia were down on Friday after a volatile week of trading.
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Casino stocks in China saw losses. MGM China fell by 4%, Mynn Macau lost 2.5%, Sands China dropped by 3%, and SJM Holdings declined by 2.7%.
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Technology stocks in Hong Kong were also down as Tencent fell by 3%, Meituan lost 3.17%, and Bilibili dropped 4.36%.
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Japan’s inflation rate hit a 40-year high after consumer prices rose by 3.6% in November on an annualized basis.
| Market | Price | Move |
| S&P Asia 50 | 4,213.96 | -0.51% |
| Japan (Nikkei 225) | 28,283.03 | -0.35% |
| South Korea (KOSPI) | 2,437.86 | -0.14% |
| China (Hang Seng) | 17,573.58 | -0.49% |
| India (SENSEX) | 62,293.64 | 0.03% |
Commodities
Oil prices were down on Friday due to continuing concerns about demand from China, where COVID-19 cases are increasing.
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Brent crude futures lost 1.6% and U.S. West Texas Intermediate crude fell 1.7%.
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On the week, the benchmark crudes lost 3.8% and 3.9%, respectively.
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The G7 and EU have been discussing putting a price cap on Russian oil at between $65 and $70 per barrel.
| Market | Price | Move |
| Oil (NYSEARCA: OIL) | 29.08 | -0.86% |
| Gold (NYSEARCA: GLD) | 163.22 | 0.09% |
| Silver (NYSEARCA: SLV) | 19.72 | -0.45% |
| Corn (NYSEARCA: CORN) | 26.64 | 0.91% |
| Lumber (NASDAQ:WOOD) | 76.55 | 0.03% |
Currency exchange rates
The U.S. Dollar increased slightly on Friday after falling a day earlier.
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China’s central bank said it would cut the amount of reserves banks had to hold.
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The Chinese Yuan lost over 0.4% following the news and has been negative for two consecutive weeks.
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The Japanese Yen lost 0.5% after data showed that Japan’s annual inflation hit a 40-year high.
| Market | Price | Move |
| UK(GBP) | £0.83 | 0.17% |
| Europe (EURO) | €0.96 | -0.06% |
| Canada (Canadian Dollar) | $1.34 | 0.47% |
| Japan (Yen) | ¥139.13 | 0.38% |
Cryptocurrency
Bitcoin has been holding its price since Wednesday despite suppressed trading volume in the U.S.
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Brendan Blumer, the Founder of Block.One has purchased a 9.3% stake in Silvergate Capital, making him the largest shareholder in the company.
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Incoming Kraken CEO Dave Ripley said he believes that self-custody and regulation will be the future of the crypto industry.
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Flashbots, an Ethereum R&D firm, is building a plug-and-play solution to change how validators earn MEV.
| Market | Price | Move |
| Bitcoin | $16,475.20 | -0.67% |
| Ethereum | $1,205.29 | 0.58% |
| Litecoin | $76.19 | 2.90% |
| Bitcoin Cash | $112.24 | -2.98% |
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Author
Chris Svorcik
Elite CurrenSea
Experience Chris Svorcik has co-founded Elite CurrenSea in 2014 together with Nenad Kerkez, aka Tarantula FX. Chris is a technical analyst, wave analyst, trader, writer, educator, webinar speaker, and seminar speaker of the financial markets.
