© Reuters.
Investing.com – Prices are expected to open lower on Wednesday. After stocks in New York fell slightly despite the downtrend in the overall market, Instacart (NASDAQ:) rose by a staggering 40%+ on its first day of trading.
Currently, market attention is focused on the outcome of the decision conference. The Fed’s announcement is scheduled for Thursday at 4:00 a.m. AEST, despite expectations of no change in interest rates. But investors are eagerly awaiting what the November meeting will bring.
By 9:30am AEST (11:30pm GMT) it was down 0.7%.
A highlight of the day in New York was Instacart’s impressive market opening, where Instacart shares opened at $42 per share, up from $30 previously, raising $660 million for the company and its shareholders. It was the fourth-largest IPO in the US this year, and shares closed at $33.70, valuing the company at $9.3 billion.
Among currencies, it rose by 0.3% while settling at 103.5. The cryptocurrency sector rose 1.6% to $27,174.
US yields have reached their highest level since 2007 thanks to higher-than-expected inflation data from Canada and rising prices, which has raised global concerns about a rebound in price pressures. US Treasury yields rose 6 basis points to 4.36%, with five-year Treasury yields rising to 4.51%.
Canadian bond yields also rose. This is because traders consider the increasing chance that the country’s central bank will raise interest rates again. This comes after reports showing that the domestic inflation rate unexpectedly accelerated for the second month in a row.
Global debt rose by $10 trillion in the first half of 2023, reflecting an upward trend as a share of the global economy. After nearly two years of decline due to high inflation. Total debt is at a record $307 trillion and this adds up to a staggering $100 trillion over the past decade.
Investors will be closely watching the leading Westpac index at 10:30 AM today, as well as trade balance data from Japan and CPI data from the UK.
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