Market Talk – November 2, 2023

ASIA:

The major Asian stock markets had a mixed day today:

NIKKEI 225 increased 348.24 points or 1.10% to 31,949.89
Shanghai decreased 13.67 points or -0.45% to 3,009.41
Hang Seng increased 128.81 points or 0.75% to 17,230.59
ASX 200 increased 61.40 points or 0.90% to 6,899.70
Kospi increased 41.56 points or 1.81% to 2,343.12
SENSEX increased 489.57 points or 0.77% to 64,080.90
Nifty50 increased 144.10 points or 0.76% to 19,133.25

The major Asian currency markets had a mixed day today:

AUDUSD increased 0.00352 or 0.55% to 0.64272
NZDUSD increased 0.00463 or 0.79% to 0.58913
USDJPY decreased 0.573 or -0.38% to 150.377
USDCNY decreased 0.00558 or -0.08% to 7.32902

The above data was collected around 13:43 EST.

Precious Metals:

Gold increased 3.25 USD/t oz. or 0.16% to 1,985.40
Silver decreased 0.214 USD/t. oz or -0.93% to 22.776

The above data was collected around 13:46 EST.

Some economic news from last night:

Australia:

Home Loans (MoM) decreased from 2.6% to -0.1%

Trade Balance (Sep) decreased from 10.161B to 6.786B

No economic news from today:

EUROPE/EMEA:

The major Europe stock markets had a green day today:

CAC 40 increased 128.06 points or 1.85% to 7,060.69
FTSE 100 increased 104.10 points or 1.42% to 7,446.53
DAX 30 increased 220.33 points or 1.48% to 15.143.60

The major Europe currency markets had a mixed day today:

EURUSD increased 0.006 or 0.57% to 1.06280
GBPUSD increased 0.0048 or 0.40% to 1.21980
USDCHF decreased 0.00284 or -0.31% to 0.90486

The above data was collected around 13:50 EST.

Some economic news from Europe today:

Swiss:

CPI (MoM) (Oct) increased from -0.1% to 0.1%

SECO Consumer Climate (Q4) decreased from -8 to -28

UK:

BoE Interest Rate Decision (Nov) remain the same at 5.25%

Spain:

HCOB Spain Manufacturing PMI (Oct) decreased from 47.7 to 45.1

Italy:

HCOB Italy Manufacturing PMI (Oct) decreased from 46.8 to 44.9

France:

HCOB France Manufacturing PMI (Oct) decreased from 44.2 to 42.8

Germany:

HCOB Germany Manufacturing PMI (Oct) increased from 39.6 to 40.8

German Unemployment Change (Oct) increased from 12K to 30K

German Unemployment Rate (Oct) increased from 5.7% to 5.8%

Euro Zone:

HCOB Eurozone Manufacturing PMI (Oct) decreased from 43.4 to 43.1

US/AMERICAS:

The Internal Revenue Service (IRS) has raised the contribution limits for 401(k) and other tax-deferred plans for 2024. The new limits will allow workers to contribute up to $23,000 to their 401(k), an increase of $500 from this year. The increase applies to other retirement savings accounts, including the 403(b) plan, most 457 plans, and the federal government’s Thrift Savings Plan. Catch-up contributions for savers aged 50 and older will remain unchanged at $7,500. The agency also boosted the contribution maximums for IRAs and lifted the limit to $7,000 for 2024, up from $6,500 in 2022. The catch-up contribution amount for IRAs will stay at $1,000. The IRS makes such cost-of-living adjustments annually, but in times of high inflation, the increases are more significant and impactful for taxpayers.

US Market Closings:

Dow advanced 564.5 points or 1.7% to 33,839.08
S&P 500 advanced 79.92 points or 1.89% to 4,317.78
Nasdaq advanced 232.72 points or 1.78% to 13,294.19
Russell 2000 advanced 44.51 points or 2.67% to 1,714.21

Canada Market Closings:

TSX Composite advanced 547.34 points or 2.87% to 19,626.34
TSX 60 advanced 35.8 points or 3.12% to 1,181.42

Brazil Market Closing:

Bovespa advanced 1,909.29 points or 1.69% to 115,052.96

ENERGY:

The oil markets had a mixed day today:

Crude Oil increased 2.076 USD/BBL or 2.58% to 82.516
Brent increased 2.082 USD/BBL or 2.46% to 86.712
Natural gas decreased 0.0199 USD/MMBtu or -0.57% to 3.4741
Gasoline increased 0.0576 USD/GAL or 2.64% to 2.2431
Heating oil increased 0.0762 USD/GAL or 2.57% to 3.0377

The above data was collected around 13:52 EST.

Top commodity gainers: Gasoline (2.64%), Palm Oil (2.60%), Lean Hogs (4.51%) and Coffee (3.54%)
Top commodity losers: Rhodium (-2.30%), Soda Ash (-2.85%), Methanol (-1.03%) and Orange Juice (-7.58%)

The above data was collected around 13:57 EST.

BONDS:

Japan 0.916% (-4bp), US 2’s 4.98% (+0.012%), US 10’s 4.6736% (-11.74bps); US 30’s 4.83% (-0.140%), Bunds 2.711% (-4.7bp), France 3.31% (-7.3bp), Italy 4.564% (-10.9bp), Turkey 26.76% (+26bp), Greece 4.219% (+5.5bp), Portugal 3.398% (-5.7bp); Spain 3.763% (-7.9bp) and UK Gilts 4.371% (-12.9bp)

The above data was collected around 14:02  EST.