Marcus Today Pre-Market Podcast – Wednesday 7th February

Stocks rose on Tuesday as Wall Street assessed the latest batch of corporate earnings and the timeline for rate cuts from the Federal Reserve.

The S&P 500 rose 0.23% to settle at 4,954.23, while the Nasdaq Composite inched up 0.07% to close at 15,609.00. The Dow Jones Industrial Average jumped 141.24 points, or 0.37%, to end at 38,521.36.

ASX SPI Futures up 55 points.

• Base metals higher supported by a weaker USD. Aluminium +1.13%, Zinc +0.83%, Lead +0.28%, and Tin +1.13%.
• Copper rose by +0.37%, buoyed by efforts from China to stabilise its market.
• Nickel fell 0.13% after touching its lowest point since November at $15,850.
• Gold firmed 0.53% after a pullback in Treasury yields.
• Lithium advanced 2.09%
• 10Y Bond Yields – US 4.087%, Australia 4.099%, and Germany 2.280%.
• Aussie dollar +0.59% to 65.20c. USD Index 0.28%. Japanese Yen -0.54%.
• Oil prices rose after the US Energy Department said crude oil production would grow less than forecast. WTI +0.85% and Brent Crude +0.78%.

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