Marcus Today Pre-Market Podcast – Thursday 3rd August
US markets were lower overnight, ending near worst levels, following hot labour market data and a ramp-up in treasury issuance just a day after a US credit downgrade by Fitch. Dow Jones down 348 points (-0.98%). Dow at worst down 404 points. S&P 500 notched its worst day since April, down 1.38%. Tech-heavy NASDAQ off 2.17%, its worst day in five months. Wall Street’s “Fear Guage” the VIX climbed the most in five months, up 15.5%. US 10Y treasury yields hit the highest levels since November, and the USD Index rose 0.28%. Among stocks, AMD's earnings declined by 7% despite reporting upbeat earnings, mainly due to a disappointing outlook. Starbucks' stock rose by 0.9%, although the company's sales fell short of expectations.
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