Marcus Today Pre-Market Podcast – Monday 6th November
US equities gained Friday as bond yields sharply off the back of US jobs data, which showed signs of slowing growth and an uptick in unemployment, boosting hopes that the Fed is done with its interest rate hike campaign. The Dow Jones traded higher all day, finishing up 222 points (+0.66%). Up 325 points at best. S&P 500 posted its fifth straight gain, up 0.94%, and the NASDAQ logged its sixth consecutive gain, closing up 1.38%. Treasuries rallied, with the 2Y yield falling 15 basis points to 4.84% and the 10Y dipping 9 basis points. Wall Street fear gauge, the VIX fell 4.5% and saw its largest weekly plunge since Dec-21 (-29.7%). The USD Index slid almost 1% the most since July, and Oil sank below $81 before finishing down 2.23% at $81.09 a barrel. On the corporate front, tech struggled, weighed down by losses in Apple -0.5% after its earnings and revenue beat forecasts, but sales declined for a fourth consecutive quarter. Conversely, Block jumped 10.3% after raising its annual adjusted profit forecast.
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