Market Talk - Thursday, Dec. 9

ASIA:

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 135.15 points or -0.47% to 28,725.47
  • Shanghai increased 35.47 or 0.98% to 3,673.04
  • Hang Seng increased 257.99 points or 1.08% to 24,254.86
  • ASX 200 decreased 20.90 points or -0.28 to 7,384.50
  • Kospi increased 27.77 points or 0.93% to 3,029.57
  • SENSEX increased 157.45 points or 0.27% to 58,807.13
  • Nifty50 increased 47.10 points or 0.27% to 17,516.85

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.00174 or -0.24% to 0.71463
  • NZDUSD decreased 0.00205 or -0.30% to 0.67848
  • USDJPY decreased 0.18 or -0.16% to 113.52
  • USDCNY increased 0.03261 or 0.51% to 6.37762

Precious Metals:

  • Gold decreased 5.27 USD/t oz. or -0.30% to 1,776.79
  • Silver decreased 0.389 USD/t. oz or -1.74% to 22.004

Some economic news from last night:

China:

CPI (MoM) (Nov) decreased from 0.7% to 0.4%

CPI (YoY) (Nov) increased from 1.5% to 2.3%

PPI (YoY) (Nov) decreased from 13.5% to 12.9%

Japan:

BSI Large Manufacturing Conditions (Q4) increased from 7.0 to 7.9

Some economic news from today:

China:

M2 Money Stock (YoY) decreased from 8.7% to 8.5%

New Loans increased from 826.2B to 1,270.0B

Japan:

Machine Tool Orders (YoY) decreased from 81.5% to 64.0%

EUROPE/EMEA:

The major European stock markets had a negative day:

  • CAC 40 decreased 6.34 points or -0.09% to 7,008.23
  • FTSE 100 decreased 15.79 points or -0.22% to 7,321.26
  • DAX 30 decreased 47.83 points or -0.30% to 15,639.26

The major European currency markets had a mixed day today:

  • EURUSD decreased 0.00557 or -0.49% to 1.12866
  • GBPUSD decreased 0.00017 or -0.01% to 1.32040
  • USDCHF increased 0.00525 or 0.57% to 0.92559

Some economic news from Europe today:

Germany:

Gemran Current Account Balance n.s.a (Oct) decreased from 19.6B to 15.4B

German Exports (MoM) (Oct) increased from -0.7% to 4.1%

German Imports (MoM) (Oct) increased from 0.4% to 5.0%

German Trade Balance (Oct) decreased from 12.9B to 12.5B

Germany Thomson Reuters IPSOS PCSI (Dec) decreased from 54.59 to 52.98

UK:

Thomson Reuters IPSOS PCSI (Dec) increased from 49.8 to 52.1

Italy:

Italy Thomson Reuters IPSOS PCSI (Dec) decreased from 46.76 to 46.35

France:

France Thomson Reuters IPSOS PCSI (Dec) decreased from 48.13 to 45.96

US/AMERICAS:

Jobless claims reached a 52-year low during the week ending on December 4, the Labor Department reported on Thursday. Initial filings fell to 184,000, marking the lowest level of initial filings since September 1969. Continuing claims, which are reported a week behind initial filings, fell 38,000 to around 2 million. The four-week moving average for continuing claims plummeted by 54,250 to 2.03 million.

The CNBC All-America Economic Survey found that Americans plan to spend 13% more on gifts this Christmas. This brings the average cost of gifts to $1,004, marking the highest level of holiday spending since 2018. The 800-person survey determined that 16% of participants plan to spend more due to inflation. Around 35% said they plan to spend less, and of those, 25% cited a bad economy, 21% cited higher bills, and 17% plan to save money.

The US House passed a procedural bill to allow the Senate to raise the debt ceiling on Wednesday. In the Senate, a minimum of 10 Republicans needed to vote in favor of raising the limit this Thursday. “I believe we’ve reached here a solution to the debt ceiling issue that’s consistent with Republican views of raising the debt ceiling for this amount at this particular time and allows the Democrats to proudly own it, which they’re happy to do,” Senate Majority Leader Mitch McConnell told reporters. At the time of this writing, the Senate is now preparing legislation to allow the Democrats to push forth their bill.

US Market Closings:

  • Dow declined -0.06 of a point or 0% to 35,754.69
  • S&P 500 declined 33.76 points or -0.72% to 4,667.45
  • Nasdaq declined 269.62 points or -1.71% to 15,517.37
  • Russell 2000 declined 51.5 points or -2.27% to 2,220.21

Canada Market Closings:

  • TSX Composite declined 151.86 points or -0.72% to 20,925.49
  • TSX 60 declined 8.22 points or -0.64% to 1,269.46

Brazil Market Closing:

  • Bovespa declined 1,804.29 points or -1.67% to 106,291.24

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil decreased 0.91 USD/BBL or -1.26% to 71.4500
  • Brent decreased 0.93 USD/BBL or -1.23% to 74.8900
  • Natural gas increased 0.054 USD/MMBtu or 1.42% to 3.8690
  • Gasoline decreased 0.0113 USD/GAL or -0.53% to 2.1372
  • Heating oil decreased 0.0068 USD/GAL or -0.30% to 2.2545

The above data was collected around 12:25 EST on Thursday

  • Top commodity gainers: Natural Gas (1.42%) and Coal (1.89%), Lithium (2.93%), Lumber (4.60%)
  • Top commodity losers: Oat (-2.08%), Platinum (-1.96%), Cotton (-4.37%), and Palladium (-4.17%)

The above data was collected around 12:30 EST on Thursday

BONDS:

Japan 0.047%(-0.2bp), US 2’s 0.68% (-0.01%), US 10’s 1.4802%(-4.79bps); US 30’s 1.8531% (-0.04%), Bunds -0.352% (-4.3bp), France -0.003% (-4.9bp), Italy 0.978% (-5.4bp), Turkey 20.44% (-14bp), Greece 1.359% (-1.4bp), Portugal 0.328% (-2.3bp); Spain 0.39% (-2.92bp) and UK Gilts 0.754% (-2.3bp).

Disclosure: None.

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