The major Asian stock markets had a mixed day today:
The major Asian currency markets had a mixed day today:
Some economic news from last night:
Adjusted Current Account (Jan) decreased from 118.39T to 21.63T
Current Account n.s.a. (Jan) decreased from 0.033T to -1.977T
Some economic news from today:
Coincident Indicator (MoM) (Jan) decreased from -0.2% to -3.0%
Leading Index (MoM) (Jan) remain the same at -0.4%
Leading Index decreased from 96.9 to 96.5
Economy Watchers Current Index (Feb) increased from 48.5 to 52.0
M3 Money Supply remain the same at 9.5%
The major Europe stock markets had a mixed day:
The major Europe currency markets had a mixed day today:
Some economic news from Europe today:
German Industrial Production (MoM) (Jan) increased from -2.4% to 3.5%
German Retail Sales (MoM) (Jan) increased from -5.3% to -0.3%
GDP (YoY) (Q4) decreased from 2.3% to 1.8%
GDP (QoQ) (Q4) decreased from 0.3% to 0.0%
ADP released its monthly report that showed an increasingly tightened labor market in the US. Payrolls rose by 242,000 in February, well above the 119,000 positions incorporated in January (revised up from 106,000). Wage growth came in at a 7.2% annual increase, while those who changed jobs saw a wage increase of 14.3%. ADP’s chief economist Nela Richardson called the labor market conditions a “trade off.” “We’re seeing robust hiring, which is good for the economy and workers, but pay growth is still quite elevated. The modest slowdown in pay increases, on its own, is unlikely to drive down inflation rapidly in the near-term.” Leisure and hospitality saw the most notable gains (83,000), followed by financial services (62,000), and manufacturing (43,000). The Labor Department will release its monthly nonfarm payrolls report this Friday, a closer indicator of the true labor conditions in America.
US Market Closings:
Canada Market Closings:
Brazil Market Closing:
The oil markets had a negative day today:
The above data was collected around 11:10 EST on Wednesday
The above data was collected around 11:15 EST Wednesday.
Japan 0.505% (+0.4bp), US 2’s 5.00% (-0.006%), US 10’s 3.9227% (-5.23bps); US 30’s 3.83% (-0.053%), Bunds 2.627% (-6.8bp), France 3.123% (-6.5bp), Italy 4.402% (-11.9bp), Turkey 11.53% (+0bp), Greece 4.463% (-4.5bp), Portugal 3.503% (-8.2bp); Spain 3.644% (-7.8bp) and UK Gilts 3.742% (-7.8bp).
The post Market Talk – March 8, 2023 first appeared on Armstrong Economics.