Marcus Today Market Updates

Marcus Today Pre-Market Podcast – Friday 13th January

January 13, 2023 Marcus Today
Marcus Today Market Updates
Marcus Today Pre-Market Podcast – Friday 13th January
Show Notes

Bond yields tumbled overnight as US inflation slowed for the sixth straight month in line with expectations, opening the door for the Fed to downshift on rate hikes. The Dow Jones closed up 217 points. At best it was up 320 points, and at worst it was down 181 points, in a volatile trading day. The NASDAQ rose 0.64% and the S&P 500 finished 0.33% higher. In Europe, Stoxx 50 +0.7% FTSE +0.9% CAC +0.7% DAX +0.7%. SPI Futures are up 34 points (+0.47%).

Commodities – Copper proving unstoppable overnight as it continues to reach a 7-month high, up 0.6% as US consumer prices unexpectedly fell causing the prices to surge. Base metals all positive, nickel up 0.6%, lead up 0.4%. While Zinc, Tin, and Aluminium lead the way, up 1.2%, 2.3%, and 1.4% respectively. Gold rose 1% overnight as softening inflation data gave traders confidence. Brent Crude and WTI both continue to rise as China ramps up imports, up 1%. Iron Ore up 0.21% despite China claiming they will be finding the cheapest prices through a consortium.

Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.

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