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Market Talk – February 8, 2022

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ASIA:

 

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 35.65 points or 0.13% to 27,284.52
  • Shanghai increased 23.05 points or 0.67% to 3,452.63
  • Hang Seng decreased 250.06 points or -1.02% to 24.329.49
  • ASX 200 increased 75.90 points or 1.07% to 7,186.70
  • Kospi increased 1.41 points or 0.05% to 2,746.47
  • SENSEX increased 187.39 points or 0.33% to 57,808.58
  • Nifty50 increased 53.15 points or 0.31% to 17,266.75

 

The major Asian currency markets had a green day today:

  • AUDUSD increased 0.00156 or 0.22% to 0.71386
  • NZDUSD increased 0.00081 or 0.12% to 0.66416
  • USDJPY increased 0.454 or 0.39% to 115.526
  • USDCNY increased 0.00524 or 0.08% to 6.36745

 

Precious Metals:

  • Gold increased 7.82 USD/t oz. or 0.43% to 1,828.13
  • Silver increased 0.255 USD/t. oz or 1.11% to 23.247

 

Some economic news from last night:

Japan:

Average Cash Earnings (YoY) decreased from 0.8% to -0.2%

Household Spending (MoM) (Dec) increased from -1.2% to 0.1%

Household Spending (YoY) (Dec) increased from -1.3% to -0.2%

Overall wage income of employees (Dec) decreased from 0.8% to -0.2%

Overtime Pay (YoY) (Dec) increased from 2.90% to 4.80%

Adjusted Current Account decreased from 1.37T to 0.79T

Bank Lending (YoY) (Jan) remain the same at 0.6%

Current Account n.s.a. (Dec) decreased from 0.897T to -0.371T

Hong Kong:

Manufacturing PMI (Jan) decreased from 50.8 to 48.9

Australia:

NAB Business Confidence (Jan) increased from -12 to 3

NAB Business Survey (Jan) decreased from 8 to 3

 

Some economic news from today

Japan:

Economy Watchers Current Index (Jan) decreased from 57.5 to 37.9

 

EUROPE/EMEA:

The major Europe stock markets had a mixed day:

  • CAC 40 increased 19.16 points or 0.27% to 7,028.41
  • FTSE 100 decreased 6.40 points or -0.08% to 7,567.07
  • DAX 30 increased 35.74 points or 0.24% to 15,242.38

 

The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.00156 or -0.14% to 1.14233
  • GBPUSD increased 0.00205 or 0.15% to 1.35537
  • USDCHF increased 0.00121 or 0.13% to 0.92445

 

 

Some economic news from Europe today:

France:

French Current Account (Dec) decreased from -3.40B to -7.10b

French Exports (Dec) decreased from 44.3B to 44.1B

French Imports (Dec) increased from 54.0B to 55.4B

French Trade Balance (Dec) decreased from -9.8B to -11.3B

Spain:

Spanish Industrial Production (YoY) (Dec) decreased from 4.6% to 1.3%

Italy:

Italian Retail Sales (MoM) (Dec) increased from -0.4% to 0.9%

Italian Retail Sales (YoY) (Dec) decreased from 12.4% to 9.4%

US/AMERICAS:

The Fed announced that they have seized funds from Bitfinex hackers who broke into the platform in 2016. Over $3.6 billion or 94,000 bitcoin was seized although estimates state the amount could be closer to $4.5 billion. A New York couple was arrested and charged with the operation, although others are likely to come forward. The hackers had managed to funnel 119,754  bitcoin from Bitfinex and completing over 2,000 unauthorized transactions. The arrest and scandal is likely to shape future cryptocurrency regulations.

The Internal Revenue Service (IRS) will be taxing the majority of American investors on capital gains this tax season. Individuals with taxable income over $40,400 will be charged, while married filers making over $80,8000 annually must pay. Next year, the tax will rise to $83,350 for joint filers and $41,675 for single taxpayers. As most individuals earning under this amount cannot afford to invest their money, this tax is likely to effect the majority of US investors.

US Market Closings:

 

  • Dow advanced 371.65 points or 1.06% to 35,462.78
  • S&P 500 advanced 37.67 points or 0.84% to 4,521.54
  • Nasdaq advanced 178.79 points or 1.28% to 14,194.46
  • Russell 2000 advanced 32.77 points or 1.63% to 2,045.37

 

Canada Market Closings:

 

  • TSX Composite advanced 141.68 points or 0.67% to 21,377.18
  • TSX 60 advanced 8.24 points or 0.64% to 1,299.55

 

Brazil Market Closing:

 

  • Bovespa advanced 238.06 points or 0.21% to 112,234.46

 

ENERGY:

 

The oil markets had a mixed day today:

  • Crude Oil decreased 1.53 USD/BBL or -1.68% to 89.7900
  • Brent decreased 1.61 USD/BBL or -1.74% to 91.0800
  • Natural gas increased 0.016 USD/MMBtu or 0.38% to 4.2480
  • Gasoline decreased 0.045 USD/GAL or -1.68% to 2.6403
  • Heating oil decreased 0.0681 USD/GAL or -2.38% to 2.7873

 

The above data was collected around 14:12 EST on Tuesday

 

 

  • Top commodity gainers: Orange Juice (2.91%) and Aluminum (2.97%), Lean Hogs (3.02%), Lumber (4.04%)

 

  • Top commodity losers: Palladium (-2.10%), Heating Oil(-2.38%), Brent(-1.74%) and Crude Oil(-1.68%)

 

The above data was collected around 14:22 EST on Tuesday.

 

 

BONDS: 

 

Japan 0.209%(+1bp), US 2’s 1.3354% (+0.04%), US 10’s 1.9541% (+3.46bps); US 30’s 2.2518% (+0.03%), Bunds 0.264% (+4bp), France 0.718% (+4.4bp), Italy 1.853% (+4bp), Turkey 21.47% (-18bp), Greece 2.351% (-2.1bp), Portugal 1.007% (-1.2bp); Spain 1.078% (-1bp) and UK Gilts 1.491% (+7.9bp).