Market Talk – Wednesday, Jan. 20

Donald Trump pardoned 73 people before leaving office. The list includes a number of politicians including former Detroit Mayor Kwame Kilpatrick who is serving a 28-year sentence for fraud, as well as Republican fundraiser Elliot Broidy who was accused of acting as a foreign agent. Former Trump adviser Steve Bannon was pardoned as well after being charged with scamming donors out of funds that were to be used to build the US-Mexico wall. Rappers Lil Wayne and Kodak Black, both wanted for gun charges, were pardoned by the leaving president as well after both supported his campaign. Noticeably absent from the list were WikiLeaks founder Julian Assange and whistleblower Edward Snowden.

US Market Closings:

  • Dow advanced 257.86 points or 0.83% to 31,188.38
  • S&P 500 advanced 52.94 points or 1.39% to 2,851.85
  • Nasdaq rose 260.07 points or 1.97% to 13,457.25
  • Russell 2000 advanced 9.48 points or 0.44% to 2,160.62

Canada Market Closings:

  • TSX Composite advanced 57.54 points or 0.32% to 18,014.91
  • TSX 60 advanced 2.21 points or 0.21% to 1,068.94

Brazil Market Closing:

  • Bovespa decreased 989.99 points or -0.82% to 119,646.4

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil increased 0.32 USD/BBL or 0.60% to 53.3000
  • Brent decreased 0.02 USD/BBL or -0.04% to 55.8800
  • Natural gas decreased 0.006 USD/MMBtu or -0.24% to 2.5400
  • Gasoline decreased 0.0003 USD/GAL or -0.02% to 1.5378
  • Heating oil decreased 0.0039 USD/GAL or -0.24% to 1.5948
  • Top commodity gainers: Rubber (4.39%), Lumber (4.79%), Lean Hogs (2.63%) and Tin (2.88%)
  • Top commodity losers: Canola (-2.42%), Soybeans (-1.39%), Coffee (-1.53%), and Corn (-0.90%)

The above data was collected around 16:09 EST on Wednesday.

BONDS:

Japan 0.05%(+0bp), US 2’s 0.13%(-0.004%), US 10’s 1.08%(-1bps); US 30’s 1.83%(-0.012%), Bunds -0.52% (+4bp), France -0.30% (+0bp), Italy 0.58% (+2bp), Turkey 13.02% (-2bp), Greece 0.65% (-3bp), Portugal 0.03% (+2bp); Spain 0.08% (+1bp) and UK Gilts 0.30% (+1bp).

  • US 20-Year Bond Auction increased from 1.470% to 1.657%
  • German 30-Year Bund Auction decreased from -0.060% to -0.130%
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Disclosure: None.

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