Market Talk - Tuesday, Dec. 1

Florida Governor Ron DeSantis announced that he will not implement new lockdown measures, mask mandates, or school closures. The governor called school closures the “biggest public health blunder in modern American history”. DeSantis also said that lockdown measures disproportionately target middle and low-income works who are not in the “Zoom class” who have the luxury of working from home. Private businesses, such as Disney, may require masks to be worn in their establishment but the government will not fine or arrest people for failing to wear a mask.

President Trump’s legal team filed a lawsuit in Wisconsin today to refute Joe Biden’s win in the state. The lawsuit requests that the Wisconsin Supreme Court overturn Biden’s win until the “illegal” absentee ballots are removed from the final count.

US Market Closings:

  • Dow advanced 185.28 points or 0.63% to 29,823.92
  • S&P 500 advanced 40.82 points or 1.13% to 3,662.45
  • Nasdaq advanced 156.37 points or 1.28% to 12,355.11
  • Russell 2000 advanced 16.23 points or 0.89% to 1,836.05

Canada Market Closings:

  • TSX Composite advanced 106.68 points or 0.62% to 17,296.93
  • TSX 60 advanced 6.44 points or 0.63% to 1,029.96

Brazil Market Closing:

  • Bovespa advanced 2,547.82 points or 2.34% to 111,441.14

ENERGY:

The oil markets had a negative day today:

  • Crude Oil decreased 0.84 USD/BBL or -1.85% to 44.5000
  • Brent decreased 0.64 USD/BBL or -1.34% to 47.2900
  • Natural gas decreased 0.03 USD/MMBtu or -1.04% to 2.8520
  • Gasoline decreased 0.0359 USD/GAL or -2.87% to 1.2130
  • Heating oil decreased 0.0128 USD/GAL or -0.94% to 1.3431

The above data was collected around13:46 EST on Tuesday

  • Top commodity gainers: Silver (5.98%), Gold (2.12%), Platinum (3.53%), and Palladium (1.80%)
  • Top commodity losers: Wheat (-2.28%), Gasoline (-2.87%), Orange Juice (-2.29%), and Coffee (-3.81%)

The above data was collected around 13:53 EST on Tuesday.

BONDS:

Japan 0.02%(-1bp), US 2’s 0.17%(+0.023%), US 10’s 0.92%(+8bps); US 30’s 1.66%(+0.088%), Bunds -0.58% (-1bp), France -0.33% (-0bp), Italy 0.66% (+7bp), Turkey 12.00% (+7bp), Greece 0.75% (+11bp), Portugal 0.10% (+6bp); Spain 0.12% (+4bp) and UK Gilts 0.35% (+5bp).

  • US 52-Week Bill Auction decreased from 0.135% to 0.110%
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Disclosure: None.

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