Marcus Today Pre-Market Podcast – Monday 22nd May

Dow Jones down 109 points (-0.33%). Up 117 at best, down 199 at worst. NASDAQ -0.24%. S&P 500 -0.14%.

SPI Futures down 11 points. The ASX 200 was up 0.31% (23 points) last week.

US markets rose last week with the Dow Jones up 0.38% on the week, S&P 500 up 1.65% with the NASDAQ up 3.04%, defying Powell and his Hawks last week. The ASX followed suit tracking the US markets up 0.31% supported by tech stocks with XRO outperforming closing the week out up 15.09%.

• Copper rebounded 1.11% on optimism about US debt talks and a weaker dollar on Friday.
• Gold rallied 0.89% as renewed worries about the stability of the banking sector and remarks from the US Federal Reserve chairman prompted traders to slash bets for another interest rate hike.
• Nickel +2.06%, Aluminium -0.18%, Zinc +1%, Lead 1.8%, Tin 1.6%.
• WTI crude fell 0.35% on Friday due to concerns over a potential US debt default, but still recorded a 1.7% weekly gain as the market anticipate an oil market deficit in the second half of the year.

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