Marcus Today Pre-Market Podcast – Thursday 2nd March

Wall Street mostly lower following a rise in Treasury yields, as Fed Officials reiterate their intention to lift interest rates to more than 5%. Tesla, Apple and Amazon were among the US tech stocks to suffer losses, down 1.43%, 1.42% and 2.19%. The US 10-year yields briefly traded above 4% for the first time since November. ASX 200 Futures down 1 point (-0.01%).

The Dow Jones closed up 5 points (+0.02%). At best it was up 89, and at worst it was down 156. The S&P 500 was down 0.47%, and the NASDAQ was down 0.66%. In Europe, STOXX 50 down 0.53% FTSE +0.49% CAC -0.46% DAX -0.39%.

• Copper and Aluminium were up 1.8% and 2.7% overnight following data indicating that China's manufacturing activity grew in February at its fastest pace in over a decade. The weakening of the US dollar also contributed to price increases. Zinc jumping 4.4%, Nickel up 0.6%, Lead up 1.4% and Tin up 1.1%.
• Gold also up 0.51% as the USD falls, making the metal more affordable for foreign buyers.
• WTI crude and Brent climbed 0.9% and 0.61% on positive Chinese manufacturing data, with gains capped by the fourth straight contraction in US manufacturing data. Bitcoin up 0.49%.
• US manufacturing sector still shrinking; raw material prices rebound.
• Fed officials debate higher vs. just longer after January inflation jump.
• Elon Musk expected to outline more affordable EV and new Tesla 'Master Plan'.
• US House panel approves bill giving Biden power to ban TikTok.
• US stocks fall as manufacturing data lifts Treasury yields.
• Eurozone factory output returned to growth in February.
• China's PMIs expand as economy re-opens from COVID curbs.
• Japan's factory activity shrinks most in 2-1/2 years.

Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.

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