Marcus Today Pre-Market Podcast – Wednesday 8th November

 Wall Street rose overnight, buoyed by gains in mega-cap tech stocks and a fall in US treasury yields. Dow Jones rose 57 points (+0.17%). Up 111 points at best. Down 69 points at worst. The S&P 500 and NASDAQ notched their longest winning streak in two years, up 0.28% and 0.90%, respectively. The tech sector did most of the heavy lifting, led by gains in Amazon +2.1%, Apple 1.4%, Meta +1.0%, Tesla 1.3%, and Microsoft 1.1%, advancing for an eighth straight session. US Treasury yields continue their descent, the 10Y yield fell 7.2bps, its fifth decline in the last six sessions on expectations the Fed is done with its rate hike cycle. 

ASX SPI 200 down 1 point.

• Base metals mixed. Copper -0.75%, Nickel -2.95%, Aluminium -0.96%, Zinc +0.20%, Lead +0.41%, and Tin -0.06%.
• Gold hit a two-week low overnight as the safe haven rally losses steam, down 0.52%.
• Bond Yields Lower - 10Y yield: US 4.579%, Australia 4.605%, and Germany 2.659%.
• Oil prices dive to July lows on the rising dollar and mixed economic data from China and OPEC+. Brent Crude -4.21%, and WTI down 4.40%.

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