Marcus Today Pre-Market Podcast – Wednesday 24th January

Wall Street closed mostly higher overnight on continued tech enthusiasm and the upcoming “magnificent seven” mega-cap results. S&P 500 up 0.29%, NASDAQ up 0.43%. The Dow Jones fell 96 points (0.25%) after 3M dropped 11% on results. The biggest news was a 7% jump in the after-hours Netflix share price after the company reported 13.1m new subscribers in Q4. Well ahead of expectations for ~9m. Other companies to report included General Electric (-1% on disappointing outlook), Verizon (+6.7% on upbeat forecast), Procter and Gamble (+4.1% on strong margins) and Johnson Johnson (-1.7% after meeting expectations).

ASX to open higher, SPI futures up 0.17%.

• Iron ore +2.6%. Oil price down 1%. Gold price +0.2%.
• Shaw & Pertners says panic buying could rocket uranium prices to US$150.
• Glencore warns about plight of nickel sector in Australia.
• Andrew Forrest draws up policy wish list to save nickel industry.
• Goldman Sachs sees much wider copper deficit in 2024.
• Red Sea oil tension may revive Russia Saudi spat.

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