Marcus Today Pre-Market Podcast – Tuesday 2nd May

US equities closed marginally lower overnight, in an uneventful day of trade. S&P 500 neared its YTD high at midday but was sold off in the afternoon. The greenback gained with Treasury yields as the market braces for the Fed’s interest rate decision due Wednesday, as well as key economic data including jobs data later this week and quarterly reports. JPMorgan wins auction for failed lender First Republic, up 2.14%. Dow Jones down 46 points (-0.14%), closing near session lows. Dow up 160 at best, and down 160 at worst. S&P 500 down 0.04%. NASDAQ down 0.11%. VIX Volatility Index up 1.9%. European markets mostly closed overnight for a holiday. SPI Futures are down 5 points (-0.07%).

• ASX to slip before RBA rate decision, Wall Street mixed.
• Wall Street near flat after First Republic news, awaiting Fed.
• Wall St stocks end lower, dollar gains after data; Fed, earnings in the wings.
• Bond investors fearing recession, boost safety bets ahead of FOMC.
• Regulators seize First Republic Bank, sell assets to JPMorgan.
• Subway comes up with $5 billion debt plan to clinch $10 bln-plus sale.
• Meta plans $7 billion bond issue.
• US manufacturing contracts again in April, but pace slows.
• All eyes on Lyft's new CEO as Wall Street awaits turnaround plan.
• Russian strikes kill two in Ukraine, damage dozens of buildings.
• Gold retreats as robust US data lifts dollar; focus on Fed.
• Soft China PMI likely to flow through to uneven commodity demand.
• U.S. April oil exports top forecasts on Chinese demand.
• Oil drops 1% as economic growth concerns offset OPEC+ cuts.

Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.

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