Pre-Market Report – Thursday 7 Mar: US bounces back, gold hits record

Marcus Today Market Updates

The S&P 500 added 0.51% to 5,104.76, while the Nasdaq Composite gained 0.58% to 16,031.54. The Dow Jones Industrial Average traded higher by 75.86 points, or 0.2%, to close at 38,661.05. The blue-chip average was weighed down by a drop of more than 2% in Disney. Shares of NYCB rose about 7.5% after tumbling more than 40% earlier in the session. Trading in the stock was halted several times throughout the day.
ASX to rise. SPI Futures up 37 points (+0.48%). But lots of big companies going EX Div BHP, RIO and WDS.

• Base metals broadly higher, buoyed by a weaker dollar, Copper +0.89%, Aluminium +0.29%, Zinc +1.71%, Lead +0.95%, and Tin +1.17%.
• Nickel down 0.34% from improved supply prospects from Indonesia.
• Gold extends record run, up 0.78%, driven by bets for rate cuts as early as June.
• Oil prices edged up on smaller than expected build in US crude inventories. WTI +1.23% and Brent Crude +1.0%.
• 10Y Bond Yields – US 4.108%, Australia 4.007%, and Germany 2.330%.
• Currencies - Aussie dollar up 0.92% to 65.62US cents, USD Index -0.40% and Japanese Yen -0.42%.

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