Market Outlook 🚀 - U.S. stocks down on Monday

Cryptos Rising

Inside.com Part of   Network February 08, 2022

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Hi Inside.com Community, We are extending our Republic raise timeline, and we hope readers and investors love the reason. Inside.com Founder and CEO Jason Calacanis shared full details (and a video preview of our social news site) on our Republic campaign page. These are the key details: Our social news site’s invitation-only beta will open up on February 28, 2022, with early access for all investors, Inside PRO members, and longtime readers. The full site launch is slated for the end of March 2022. If you want to get in early, we’ll share more soon — so be on the lookout. For everyone participating in our Republic campaign, we want this extended investment period to allow our members to experience the social site before investing in Inside.com’s future. In the meantime, enjoy the preview of the new site in our video update, and we hope you will be among the first to try it out. Thanks for being readers and investors. The Inside.com Team Liam

U.S. Markets Stocks were down Monday as investors await new economic data this week that could set the tone for trading.  Earnings continue to have an outsized impact on stocks, with Tyson Foods jumping 12% after beating expectations, and Zimmer Biomet falling 9% after missing targets.  70 companies in the S&P 500 will report earnings this week, including Disney and Coca-Cola.  The current 10 Year U.S. Treasury yield is set at 1.92050% Dow Jones  35,091.13 0.00% S&P 500  4,483.87 -0.37% Nasdaq  14,015.67 -0.58% Russell 2000 2,012.60 0.51% *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 Despite the potential for higher interest rates in the coming months, 64% of Canadians believe that real estate prices will increase over the next six months in their neighborhoods.  Since the start of the pandemic, housing prices in Canada are up an average of 40%.  Bloomberg ranks Canada as the second biggest housing bubble in the world after New Zealand.  The Bank of Canada did not raise interest rates in January but removed forward guidance indicating a potential hike in the coming months.  TSX  21,235.50 -0.17% *Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services

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European Markets European stocks were up on Monday as investors continue to digest economic data from Europe and the U.S.  Travel and leisure stocks led the markets, gaining 3.1%, with the Stoxx 600 averaging a rise of 0.7% AddLife stock was up 7% after it completed a share repurchase plan. Orpea, a French care home company, continues to fall, losing another 4.5% as allegations of abuse and malpractice in their facilities gain traction.  Euro STOXX 50  4,120.56 0.83% UK (FTSE 100)  7,573.47 0.76% Germany (DAX)  15,206.64 0.71% France (CAC 40) 7,009.25 0.83% *European stock prices are as of 7 am ET. Data received directly from the references indexes through ICE Data Services.

Commodities Oil prices were down on Monday as the U.S. made progress with Iran in discussions around a nuclear deal, which could result in the U.S. lifting oil sanctions on Iran.  Brent crude closed at $92.69 but earlier in the day hit $94.00, setting a seven-year intraday high. US West Texas Intermediate crude closed at $91.32.  Tensions in Ukraine along with lower than expected output from OPEC+ have been contributing to supply-side concerns.  Crude oil is up ~20% since the start of 2022 and investors expect prices will hit new records this year.  Oil (NYSEARCA:OIL) 27.86 -0.61% Gold (NYSEARCA:GLD) 170.11 0.73% Silver (NYSEARCA:SLV) 21.27 2.31% Corn (NYSEARCA:CORN) 23.05 2.17% Lumber (NASDAQ:WOOD) 90.49 0.29% *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.

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Currency Exchange Rates The U.S. Dollar rose on Monday as the European Central Bank continues to push back on hopes of an interest rate hike in the near future. European Central Bank President Christine Legarde claimed that she did not see a reason to tighten monetary policy as inflation is already falling and it could naturally come down to 2%.  A Reuters poll indicates that EU annual inflation reached 7.3% in January.  The Japanese Yen and Canadian Dollar have been gaining strength as alternatives to higher-risk currencies.  UK(GBP) £0.74 0.03% Europe (EURO) €0.87 0.11% Canada (Canadian Dollar) $1.27 -0.71% Japan (Yen) ¥115.08 -0.12% *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.

Cryptocurrency Bitcoin has hit a one-month high.  Bitcoin surged 11% on Friday and an additional 6% rise on Monday has started to create strong upwards momentum.  Bitcoin's sudden boost comes after reports that the Fed may not raise interest rates as quickly as previously expected.  Cryptocurrencies have deviated from tech equities again, showing the potential for this asset class to establish a unique identity.  Bitcoin $43,877.30 5.90% Ethereum $3,145.57 4.35% Litecoin $136.68 12.22% Bitcoin Cash $341.93 6.61% *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.

Let us know: What asset class are you most likely to invest in? U.S. Equities Canadian Equities European Equities Real Estate Cryptocurrencies Commodities

Liam Gill is a founder, lawyer and investor. He previously founded Fumarii Technologies, which became a top 20 ranked cloud computing service (Yahoo Finance! 2019) valued at over $30M. He holds an LLB Laws (UK), MSc Management and Master of Laws and currently practices law at Zargar Lawyers + Business Strategists in Vancouver, Canada. In addition to his work at Inside and Zargar, he spends his time supporting founders and entrepreneurs, including offering free legal information and contract templates at Law4Startups.com and co-hosting the Inside Business Podcast with Mac the VC. Follow me on Twitter if you are interested in market information or startup advice!   Editor Eduardo Garcia is a writer and editor based in New York. He is writing an illustrated book about climate change that will be published by Ten Speed Press, an imprint of Penguin Random House. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade.

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