Marcus Today Pre-Market Podcast – Monday 3rd July

Dow Jones up 285 points (+0.84%). Up 345 at best. Up 148 at worst. NASDAQ +1.45%. S&P 500 +1.24%. One newswire describes the last day of the half-year as the “Cherry on Top”.

SPI Futures are up 29. The ASX 200 was up 104 points or 1.47% last week. The Tech sector led the ASX this week, with the Banks up 2.48% and REITs up 2.63% as a better-than-expected CPI number reduced the chances of an RBA rate rise next week (not by much) and kicked off a Financials and Consumer Discretionary rally (+2.82%).

Big Tech lead the market. Apple up 2.3%, hitting a record high and crossing the $3 trillion market cap line. Banks are following through after the positive reaction to the stress test this week. Most industrials higher. Gold and lithium stocks higher. Bond yields dipped on better-than-expected PCE price index numbers. So did the US dollar index. Still thought to be not good enough to prevent the next Fed rate rise. 90 fell 2.6% on results. Volume was a bit below average. The US has a holiday coming up on Tuesday and closes early on Monday. A lot of people be on holiday next week.

• Wall St rallies; Nasdaq hits 40-yr milestone, Apple scales $3 trillion
• Wall St ends strong quarter with broad rally, dollar dips as inflation cools
• U.S. yields slip on cooler-than-expected PCE data
• US consumer spending hits speed bump; inflation picture mixed
• Yellen sees strong job market, lower inflation, even as US economy cools
• Biden's student loan defeat adds to headwinds for US economy
• Apple's market value ends above $3 trillion for first time
• Goldman Sachs may exit partnership with Apple – WSJ
• Copper down 1.06% declining 7.7% for the quarter and marking the first period of loss in 3 quarters.
• Nickel +2.56% Aluminium -0.62% Zinc -0.95%, Lead -0.84%, and Tin +0.27%.
• WTI Crude gained 1.16%, and Brent rose 1.48% on supply concerns.
• 10Y Bond yields: US 3.84%, Australia 4.01%, and Germany 2.39%.\

Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.

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