Pre-Market Report – Friday 15 Mar: The Ides of March | Banks under pressure?

 The 30-stock Dow pulled back 137.66 points, or 0.35%, to close at 38,905.66. The Nasdaq Composite fell 0.3% to 16,128.53, while the S&P 500 slipped 0.29% to finish the session at 5,150.48. 

US PPI worse than expected as were Retail numbers.

ASX SPI Futures down 56 points.

• Base metals are broadly weaker, Nickel -1.06%, Aluminium -0.81%, Zinc -0.97%, Lead -0.69%, and Tin +0.60%.
• Copper retreated from its 11-month high, down 0.54% on doubts over plans by Chinese smelters to cut output. Lithium falls 7% in Asia.
• Gold fell 0.59% after a larger-than-expected rise in February’s PPI data.
• 10Y Bond Yields – US 4.292%, Australia 4.152%, and Germany 2.436%.
• Currencies - Aussie dollar flat, USD Index +0.56%, Euro -0.02%, and Bitcoin -2.90%.
• Oil prices settled at four-month highs following IEA’s forecasts for a tighter market in 2024, raising its expectations on oil demand growth this year. WTI +1.85% and Brent Crude 1.51%.

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