Market Talk – July 11, 2022

ASIA:

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 295.11 points or 1.11% to 26,812.30
  • Shanghai decreased 42.49 points or -1.27% to 3,313.58
  • Hang Seng decreased 601.58 points or -2.77% to 21,124.20
  • ASX 200 decreased 75.80 points or -1.14% to 6,602.20
  • Kospi decreased 10.34 points or -0.44% to 2,340.27
  • SENSEX decreased 86.61 points or -0.16% to 54,395.23
  • Nifty50 decreased 4.60 points or -0.03% to 16,216.00

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.01016 or -1.48% to 0.67527
  • NZDUSD decreased 0.0062 or -1.00% to 0.61300
  • USDJPY increased 1.248 or 0.92% to 137.300
  • USDCNY increased 0.03557 or 0.53% to 6.71947

Precious Metals:

l Gold decreased 6.39 USD/t oz. or -0.37% to 1,735.43

l Silver decreased 0.130 USD/t. oz or -0.67% to 19.170

Some economic news from last night:

Japan:

Core Machinery Orders (MoM) (May) decreased from 10.8% to -5.6%

Core Machinery Orders (YoY) (May) decreased from 19.0% to 7.4%

M3 Money Supply (Jun) increased from 2,056.2T to 2,062.3T

New Zealand:

Electronic Card Retail Sales (MoM) (Jun) decreased from 1.8% to 0.1%

Related:  Market Talk - August 24, 2022

Electronic Card Retail Sales (YoY) (Jun) increased from 0.7% to 1.9%

Some economic news from today:

China:

M2 Money Stock (YoY) (Jun) increased from 11.1% to 11.4%

New Loans (Jun) increased from 1,890.0B to 2,810.0B

Outstanding Loan Growth (YoY) (Jun) increased from 11.0% to 11.2%

Chinese Total Social Financing (Jun) increased from 2,790.0B to 5,170.0B

Japan:

Machine Tool Orders (YoY) decreased from 23.7% to 17.1%

EUROPE/EMEA:

The major Europe stock markets had a mixed day:

  • CAC 40 decreased 36.83 points or -0.61% to 5,996.30
  • FTSE 100 increased 0.35 points or 0.00% to 7,196.59
  • DAX 30 decreased 182.79 points or -1.40% to 12,832.44

The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.01226 or -1.20% to 1.00627
  • GBPUSD decreased 0.01319 or -1.10% to 1.18964
  • USDCHF increased 0.00343 or 0.35% to 0.97963

Some economic news from Europe today:

Italy:

Italian Retail Sales (MoM) (May) increased from 0.3% to 1.9%

Italian Retail Sales (YoY) (May) decreased from 8.3% to 7.0%

US/AMERICAS:

Twitter shares fell over 11% this Monday after Elon Musk backed out of the acquisition. Musk’s attorney told Twitter that the deal would not be completed due to the number of fake accounts or bots on the site. Interestingly, Musk is one of the most influential people on the social media platform with over 100 million followers. Future lawsuits against Musk are likely.

Related:  Market Talk - August 15, 2022

A new report by Redfin found that 15% of all home sales in June were canceled, marking a new high since the beginning of the pandemic in early 2020. The cancelation rate was about 11% a year ago. Experts are blaming higher mortgage rates and rapidly rising inflation for the cancelations as many simply cannot budget for new homes. Additionally, potential home buyers believe that prices may begin to drop and are holding out to see where the economy leads the real estate market.

US Market Closings:

  • Dow declined 164.31 points or -0.52% to 31,173.84
  • S&P 500 declined 44.95 points or -1.15% to 3,854.43
  • Nasdaq declined 262.71 points or -2.26% to 11,372.6
  • Russell 2000 declined 37.36 points or -2.11% to 1,732.01
Related:  Market Talk - August 6, 2022

Canada Market Closings:

  • TSX Composite declined 206.06 points or -1.08% to 18,816.8
  • TSX 60 declined 11.39 points or -0.99% to 1,144.27

Brazil Market Closing:

  • Bovespa declined 2,076.48 points or -2.07% to 98.212.46

ENERGY:

The oil markets had a mixed day today:

l Crude Oil decreased 1.14 USD/BBL or -1.09% to 103.650

l Brent decreased 0.37 USD/BBL or -0.35% to 106.65

  • Natural gas increased 0.384 USD/MMBtu or 6.36% to 6.4180
  • Gasoline decreased 0.0197 USD/GAL or -0.57% to 3.4274
  • Heating oil increased 0.0791 USD/GAL or 2.15% to 3.7520

The above data was collected around 14:19 EST on Monday

  • Top commodity gainers: Natural Gas (6.36%), Heating Oil (2.15%), Feeder Cattle (1.83%) and Cocoa (2.42%)
  • Top commodity losers: Methanol (-5.31%), Steel (-5.40%), Platinum (-3.05%) and Wheat (-4.15%)

The above data was collected around 14:37 EST on Monday.

BONDS:

Japan 0.244%(+0bp), US 2’s 3.07% (-0.053%), US 10’s 2.9946% (-10.64bps); US 30’s 3.18% (-0.090%), Bunds 1.253% (-9.3bp), France 1.7830% (-10.1bp), Italy 3.298% (-7.3bp), Turkey 18.15% (+0bp), Greece 3.624% (-2.6bp), Portugal 2.378% (-5.8bp); Spain 2.364% (-5.6bp) and UK Gilts 2.1780% (-5.7bp).

Original Article

Leave a Comment