Marcus Today Pre-Market Podcast – Tuesday 1st August

US equities finished in the green overnight on July’s last trading day, closing near best levels. Dow Jones up 100 points (+0.28%). Up 108 points at best. Down 29 points at worst. S&P 500 and NASDAQ added 0.15% and 0.21%, respectively. All three major indexes ended with gains for the month, Dow +3.32%, and the S&P 500 and NASDAQ jumped 2.9% and +3.8% marking the fifth positive month in a row. US treasuries edged lower, and the US dollar ticked up as the Yen slipped. On the corporate front, Chevron +3% supporting the Dow, after Goldman Sachs upgraded the company to buy from neutral, and Disney +3.2% after the Financial Times reported that the company brought back its former executives.

• ASX to open higher. SPI Futures up 25 points (+0.34%).

European shares closed higher on Monday, driven by gains in healthcare stocks and a report indicating a further easing of euro zone inflation in July. However, optimism about a rate hike pause was tempered by upbeat growth data. FTSE 100 +0.07%, DAX -0.14%, CAC40 +0.29%, STOXX 600 +0.12%. Asian equities advanced on Monday, Nikkei rallied to a four-week high +1.26%, Hang Seng extended last week’s rally by +0.82%, and Shanghai Composite up 0.46%. Greater China markets extended gains, Shanghai +0.46%, Shenzhen +0.75%, ChiNext +0.77% as Beijing unveils more measures to boost consumption.

• Eight of the top 10 S&P 500 sectors posted gains, led by a rise in energy stocks.
• Gold gained 0.26%, as rate-hike nears end.
• Copper rose 1.81% to a one-month high on hopes of China stimulus.
• Nickel flat, Aluminium +2.88%, Zinc +2.36%, Lead flat, Tin +0.1%
• WTI and Brent rose 1.55% and 1% as Saudi Arabia cuts production and Nigeria suspended exports due to concerns of a leak.
• 10Y Bond Yields dropping lower: US 3.96%, Australia 4.01%, and Germany 2.46%.

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