Pre-Market Report – Friday 10 May: Dow up 7 Days Straight | Gold Jumps

Dow jumped 331.37 points, or 0.85%, to close at 39,387.76 and notch its longest win streak since a nine-day run in December. The S&P 500 added 0.51% to close at 5,214.08, while the Nasdaq Composite gained 0.27% and ended at 16,346.26.
ASX to rise. SPI Futures up 23 points (+0.30%). A bond auction met with strong demand helped drive yields lower on Thursday.

• Base metals higher across the board on a weaker USD and soft labour data. Copper +0.32%, Nickel +1.47%, Aluminium +0.71%, Zinc +0.66%, Lead +0.22% and Tin +1.39%.
• Gold gained 1.61% on fresh labour data that indicated a rising number of Americans filing for unemployment
• Oil prices rose to a one-week high on data from China and the US signalling stronger demand.  WTI +0.36% and Brent Crude +0.44%.
• Currencies – AUD flat, USD Index -0.30%, Euro +0.01%, and Bitcoin +1.52%.
• 10Y Bond Yields – US 4.459%, Australia 4.340%, and Germany 2.486%.

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