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Pre-Market Report – Wednesday 8 May: Conference Updates Continue | QIP Gets a Bid
Manage episode 417028854 series 2991632
US stocks closed edged higher overnight, just finishing above the flatline in a fairly uneventful day of trade. The Dow rose 32 points (+0.08%), rising for its fifth consecutive session its longest winning streak since December 2023. Dow up 125 points at best, and down 12 points at worst. S&P 500 briefly hit 5,200, finishing 0.13% higher, marking a four-day winning streak, while the NASDAQ slipped 0.10% in late afternoon trade. Treasury yields eased a touch, while the $58bn 3Y note auction garnered solid demand, ahead of this weeks $42bn 10Y note auction tomorrow. In Fed speak, Fed’s Kashkari said he questions the restrictiveness of current policy given inflation data and was the latest central banker to talk about a higher neutral rate, raising his projection by 50bps to 2.50%.
ASX to rise. SPI Futures up 14 points (+0.18%).
- Base metals are higher across the board. Nickel +0.31%, Aluminium +0.43%, Zinc +1.32%, Lead +1.44% and Tin +2.55%.
- Copper advanced +1.22%, pushing towards two-year highs as focus returned to tight supplies and hopes of stronger demand from China.
- Gold is off 0.39%, letting go of gains made in the previous session as the market focuses on the Fed's rate cut prospects.
- Oil prices edged lower on signs of easing supply concerns. WTI -0.16% and Brent Crude -0.63%.
- Currencies – AUD +0.02%, USD Index +0.29%, Euro +0.01%, and Bitcoin -0.68%.
- 10Y Bond Yields – US 4.461%, Australia 4.283%, and Germany 2.424%.
Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
Ready to invest in yourself? Join the Marcus Today community.
1397集单集
Manage episode 417028854 series 2991632
US stocks closed edged higher overnight, just finishing above the flatline in a fairly uneventful day of trade. The Dow rose 32 points (+0.08%), rising for its fifth consecutive session its longest winning streak since December 2023. Dow up 125 points at best, and down 12 points at worst. S&P 500 briefly hit 5,200, finishing 0.13% higher, marking a four-day winning streak, while the NASDAQ slipped 0.10% in late afternoon trade. Treasury yields eased a touch, while the $58bn 3Y note auction garnered solid demand, ahead of this weeks $42bn 10Y note auction tomorrow. In Fed speak, Fed’s Kashkari said he questions the restrictiveness of current policy given inflation data and was the latest central banker to talk about a higher neutral rate, raising his projection by 50bps to 2.50%.
ASX to rise. SPI Futures up 14 points (+0.18%).
- Base metals are higher across the board. Nickel +0.31%, Aluminium +0.43%, Zinc +1.32%, Lead +1.44% and Tin +2.55%.
- Copper advanced +1.22%, pushing towards two-year highs as focus returned to tight supplies and hopes of stronger demand from China.
- Gold is off 0.39%, letting go of gains made in the previous session as the market focuses on the Fed's rate cut prospects.
- Oil prices edged lower on signs of easing supply concerns. WTI -0.16% and Brent Crude -0.63%.
- Currencies – AUD +0.02%, USD Index +0.29%, Euro +0.01%, and Bitcoin -0.68%.
- 10Y Bond Yields – US 4.461%, Australia 4.283%, and Germany 2.424%.
Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
Ready to invest in yourself? Join the Marcus Today community.
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