Marcus Today Pre-Market Podcast – Wednesday 30th August

Marcus Today Market Updates

Wall Street climbed most since June, fuelled by optimism the Fed will pause rates in September following the latest jobs data. The Dow Jones rose 293 points (+0.85%), ending near best levels. Up 304 points at best. Down 29 points at worst. S&P 500 up 1.45% after nearly 90% of companies in the S&P 500 rose, pushing the gauge just shy of 4,500. Nasdaq jumped 1.74%, touching its highest in over two weeks, lifted by Tesla +7.7% and Nvidia +4.2%. US treasuries retreated, 10Y yield down 9.2bps and 2Y yield fell 11.6bps. US small caps Russell 2000 gained 1.42%, and Crypto saw gains as Bitcoin jumped 6.43% after a US court ruling paved the way for the first Bitcoin exchange-traded fund. VIX eased 4.2%, and Gold gathered some momentum in the wake of weaker-than-expected US data, up 0.91%.

• ASX to rise. SPI Futures up 47 points (+0.66%).
• Copper up 1.15% as the USD weakened.
• Nickel -0.65%, Aluminium +0.65%, Zinc +2.26%, Lead +1.22%, and Tin -0.37%.
• WTI and Brent were up 1.38% and 0.73% as the dollar slid and the market weighed the potential impact on energy demand from Hurricane Idalia set to hit Florida this week.
• 10Y yield: US 4.12%, Australia 4.10%, and Germany 2.51%.
• AUD -0.03% to 64.78 US cents. USD Index -0.51% to 103.48.

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