Market Talk – Friday, March 12

According to a recent survey, the average American worker saved 8.6 days of their life over the course of 12 months by not commuting to work. Major companies such as Amazon, Facebook, Square, Spotify, Twitter, and Microsoft are increasingly moving to remote work. According to the Pew Research Center, over half of Americans polled stated that they would like to continue working from home indefinitely. People cited shorter or non-existent commute times, a better work-life balance, and the opportunity to live where they wish as reasons for wishing to work remotely.

US Market Closings:

  • Dow advanced 293.05 points or 0.9% to 32,778.64
  • S&P 500 advanced 4 points or 0.1% to 3,943.34
  • Nasdaq declined 78.81 points or -0.59% to 13,319.87
  • Russell 2000 advanced 14.25 points or 0.61% to 2,352.79

Canada Market Closings:

  • TSX Composite advanced 6.75 points or 0.04% to 18,851.32
  • TSX 60 advanced 0.26 of a point or 0.02% to 1,121.71

Brazil Market Closing:

  • Bovespa declined 823.36 points or -0.72% to 114,160.4

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil increased 0.02 USD/BBL or 0.03% to 66.0400
  • Brent decreased 0.07 USD/BBL or -0.10% to 69.5600
  • Natural gas decreased 0.013 USD/MMBtu or -0.49% to 2.6550
  • Gasoline increased 0.0174 USD/GAL or 0.81% to 2.1554
  • Heating oil increased 0.0095 USD/GAL or 0.48% to 1.9689
  • Top commodity gainers: Palm Oil (1.26%), Tin (1.12%), Orange Juice (3.92%) and Lumber (2.67%)
  • Top commodity losers: Iron Ore 62% fe (-1.76%), Sugar (-1.41%), Corn (-1.35%), and Silver (-1.73%)

The above data was collected around 11:46 EST on Friday.

BONDS:

Japan 0.12%(+1bp), US 2’s 0.00%(+0.01%), US 10’s 1.63%(+10bps); US 30’s 2.00%(+0.09%), Bunds -0.31% (+5bp), France -0.09% (+0bp), Italy 0.63% (+3bp), Turkey 13.59% (+8bp), Greece 0.82% (+4bp), Portugal 0.21% (+2bp); Spain 0.34% (+3bp) and UK Gilts 0.83% (+9bp).

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Disclosure: None.

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