Marcus Today Pre-Market Podcast – Wednesday 26th April

US equities finished lower overnight, ending near worst levels. Treasury yields fell as disappointing earnings, soft economic data, and plunging deposits at the regional Republic Bank fuelled recession fears sending the market into safe-haven assets. Safe haven USD and Yen rose as market sentiment turned. 10Y treasury fell by the largest amount since March, while short-term yields climbed as the market weighs banking sector stability and the possibility of a recession with worries concerning the US debt ceiling. European shares fell, amid a round of disappointing earnings; the STOXX 600 is tracking monthly gains of over 2%. Dow Jones down 345 points (-1.02%), closing near session lows. Dow down 350 at worst. S&P 500 down 1.58%. NASDAQ down 1.98%. VIX Volatility Index up 11.1%. In Europe, Stoxx 50 -0.5% FTSE -0.3% CAC -0.6% DAX +0.1%. SPI Futures are down 38 points (-0.52%). SPI was up 23 on Tuesday morning so net loss only 15 points.

• US Futures up on Alphabet and Microsoft results.
• Domestic data: Inflation rate, Monthly CPI Indicator.
• Microsoft earnings, revenue top forecasts, shares jump 4.6%.
• Visa quarterly profit beats estimates on higher transactions.
• More bank jitters as First Republic probes asset sales, 'bad bank' options.
• US consumer confidence hits nine-month low; housing market bottoming out.
• Gold gains as traders hunker down for economic cues.
• Weak Chinese demand drags on industrial metals.
• Oil dips 2% on economic woes and stronger dollar.

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

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