Marcus Today Pre Market Podcast – Tuesday 21st February

Marcus Today Market Updates

US markets were closed overnight for Washington's Birthday. Chinese equities continued rallying, supported by the country's deepening stimulus and relaxed pandemic restrictions. Walmart and Home Depot prepare to release their retail earnings reports this week, giving an insight into US consumer demand.

In Europe, Stoxx 600 +0.07%, UK FTSE +0.12%, France's CAC -0.16%, German DAX -0.03%. SPI Futures are down 29 points (-0.4%) as fears of further rate hikes continue to plague the market.

In Commodities – Base metals are up across the board. Aluminum up 3.06% following supply concerns that top producer China were reducing production. Aluminum prices have been weak lately sliding ~8% since January after a spike in inventories. The USD slipped supporting metal prices, making commodities priced in the US cheaper for buyers using other currencies. Copper up 1.69%, Nickel up 4.59%, Tin up 3.03%, and Lead surged 4.39% its biggest one-day gain in nearly four months. Gold down 0.05% while Dalian Iron Ore is up 2.35% extending its gains to a fourth consecutive session. Brent Crude up 0.91% rebounding from an almost two-week low last week as optimism about a recovery in Chinese demand rises. Bitcoin down 0.39%.

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