Marcus Today Pre-Market Podcast – Monday 31st October

• Dow Jones up 829 points (2.59%) closing pretty much on its highs. NASDAQ up 2.87% after a 7.6% bounce in Apple and a 4% recovery in Microsoft after results this week. Intel also up 10.7% and Nvidia was up 5.0%. S&P 500 up 2.46%. Caterpillar continued its rally up 3.4% after results last week. It was up 17.5% for the week. Exxon Mobil was up 2.9% on results with Chevron up 1.2%.
• The Dow Jones was up a solid 5.72% last week with the NASDAQ up 2.24% and the S&P 500 up 3.95% which was a remarkably good performance considering the drop in Tech stocks on the back of a week of poor results reactions.
• The SPI Futures are up 92 points which makes up for the 59 point drop on the ASX 200 on Friday. The Friday performance was driven by a 3.56% drop in the resources sector offset by a 0.7% rise in the bank sector.
• Bond yields in the US rose on Friday with the 10 year bond yield up 7bp and the two year bond yield up 9bp, but there was still a substantial drop in bond yields on the week.
• In commodities, the oil price was down 1.23% and 1.44% but was up 3.35% on the week. BHP and RIO were down 4.75% and 3.5% in the US. The gold price was down 1.27% ($21) and down $11 for the week. Most of the metal prices were lower except for Lead which rallied 8% one point after being included in the Bloomberg Commodity Index. For the week, the Dalian iron ore price was down 8.2%, and the coal price down 6.8%. Lithium managed a 3.7% rise. Metal prices didn’t see much action on the week. Zinc was down 4.4%, and copper down 1.1%.

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

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