Global Markets Wrap-Up: Key Trends and Insights from the Week 

Last week highlighted key global economic trends, including Canada’s GDP growth in October, the US decline in durable goods orders, and steady Tokyo Core CPI figures. Commodities saw modest shifts, with crude and Brent oil rising slightly, while gold and silver posted small declines. US stock markets remained positive, with the NASDAQ 100 leading gains, reflecting cautious optimism in the markets.

Monday, December 23
15:30 – Canada: GDP m/m (CAD)
Canada’s real GDP grew by 0.3% in October, led by a 0.9% rebound in goods-producing industries, particularly mining, oil, and gas extraction (+2.4%). Services rose 0.1%, with real estate seeing its largest monthly growth since January 2024. Despite gains in manufacturing and construction, November’s preliminary data indicates a 0.1% GDP decline, driven by drops in mining, transportation, and finance.
The USDCAD exchange rate edged up by 0.02% compared to the prior trading session.

15:30 – USA: Core Durable Goods Orders m/m (USD)
New orders for US manufactured durable goods fell by 1.1% in November to $285.1 billion, following a 0.8% increase in October. Excluding transportation, orders declined 0.1%, while non-defense orders dropped 0.3%. Transportation equipment led the decline, falling 2.9% to $95.5 billion.
The EURUSD exchange rate declined by 0.09%.

17:00 – USA: New Home Sales (USD)

In November 2024, sales of new single-family homes reached a seasonally adjusted annual rate of 664,000, up 5.9% from October and 8.7% higher than November 2023. The median sales price was $402,600, while the average price stood at $484,800.
The USDJPY exchange rate increased by 0.05% compared to the previous day’s close.

15:30 – USA: Unemployment Claims (USD)
US jobless claims dipped to 219,000 last week, reflecting a stable labor market. However, continued claims rose to a three-year high of 1.91 million, with unemployment durations lengthening as hiring slowed. These trends suggest a cooling job market but no immediate signs of significant layoffs.
The EURUSD gained 0.25%.

01:50 am – Japan: Tokyo Core CPI y/y (JPY)
Tokyo’s core consumer price index (CPI), which excludes fresh food prices, increased by 2.4% in December compared to the previous year, slightly below the market’s expected 2.5% rise. This follows a 2.2% annual increase recorded in November.
The USDJPY was down 0.07% compared to the previous day’s close.

• Crude Oil
  Crude oil prices increased by 0.91% over the past week
• Brent Oil
  Brent decreased was up 0.95% compared to the previous week
• Gold
  The precious metal Gold (XAUUSD) concluded the week on Friday with a 0.08% weekly decline
• Silver
  XAGUSD decreased by 0.46% from the last week

• S&P 500 increased by 0.73%
• DJIA was up by 0.36%
• NASDAQ 100 rose 1.05%

• SES AI Corporation (SES) 478.41%
• Palladyne AI Corp. (PDYN) 233.43%
• SEALSQ Corp (LAES) 230.18%

• reAlpha Tech Corp. (AIRE) -29.05%
• PainReform Ltd. (PRFX) -28.57%
• 180 Life Sciences Corp. (ATNF) -24.03%

• Monday, December 23: AVXL (Anavex Life Sciences)
• Friday, December 27: OTLK (Outlook Therapeutics Inc)
• Friday, December 27: CTXR (Citius Pharmaceuticals, Inc.)

Anavex Life Sciences (AVXL) issued Q4 2024 earnings on December 23, 2024, reporting an EPS of -$0.14, which topped the consensus estimate of -$0.17 by $0.03.

AVXL shares price climbed by 40.32% from the previous week.

Outlook Therapeutics (OTLK) reported a Q4 2024 EPS of -$0.77, beating consensus estimates of -$0.83 by $0.06. Despite a trailing EPS of -$10.70, the company expects earnings improvement next year, with projections rising from -$3.84 to -$2.27 per share.

OTLK shares increased by 39.58% from the previous week.

For the fiscal year ending September 30, 2024, the net loss was $39.4 million ($5.97 per share), up from $32.5 million ($5.57 per share) in the previous year. The higher loss was driven by a $5.3 million rise in operating expenses, primarily from increased stock-based compensation and administrative costs, partially offset by reduced research and development expenses and a $1.6 million decrease in other income.

CTXR shares experienced an increase of 41.54%.

This week provided valuable insights into global economic conditions, showcasing steady growth in some areas while highlighting challenges in others. Key indicators, such as Canada’s GDP growth, the US decline in durable goods orders, and Japan’s CPI, painted a mixed picture of economic momentum. Commodities saw modest price changes, and US stock markets demonstrated resilience, driven by gains in major indices. These trends underscore a cautiously optimistic market outlook as we move into the new year.