Marcus Today Pre-Market Podcast – Thursday 28th September

The Dow fell 68.61 points, or 0.20%, landing at 33,550.27. Earlier in the session, it was up as much as 112.77 points.

The S&P 500 edged up 0.02% to close at 4,274.51, while the Nasdaq Composite added 0.22% to end the session at 13,092.85.

The S&P 500 is down by 5% month to date, while the Dow is down more than 3%. The Nasdaq is the laggard of the three, losing more than 6% this month.

The benchmark 10-year Treasury yield rose Wednesday, reaching its highest level in more than 15 year.

• Among S&P 500 sectors Energy rose 2.5% while rate-sensitive sectors Real Estate fell 0.83% and Utilities down 1.84%.
• 10Y yield: US 4.61%, Australia 4.37%, and Germany 2.84%.
• Base metals mixed. Nickel +0.37%, Aluminium +0.04%, Zinc -1.04%, Lead -1.44%, Tin -1.54%.
• Copper finished flat, up 0.02%. hovering around four-month lows as uncertainty surrounding China’s property market was reinforced by mounting problems for major developers.
• Gold down 1.36% pressured by rising treasury yields and the USD.
• Oil prices rose sharply after a steep drop in US crude stocks heightened concerns about tight global supplies. Brent up 2.57% and WTI  up 2.62%.
• Crude oil inventories in the US fell 2.17m barrels in the week ending September 22, way more than the market forecast of a 0.32m drop, data from the EIA Petroleum Status Report showed.

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