Marcus Today Pre-Market Podcast – Friday 8th December
Wall Street rallied overnight after Google and AMD triggered a mega cap rally on renewed optimism surrounding artificial intelligence. The Dow gained 63 points (+0.18%). Up 110 at best. Down 32 at worst. The S&P 500 halted a three-day decline, up 0.80%, and the NASDAQ gained 1.37% to mark its highest close of 2023. US Treasuries were subdued, 10Y yield finished little changed after an initial rise on hawkish signals from the BoJ. China lithium prices were down another 4.83%, gold was flat, and the USD Index fell 0.54%. Among Stocks, Google gained 5.3% following the launch of Gemini, saying the new AI model could narrow the gap in the race between OpenAI. Advanced Micro Devices rallied 9.7% after the company estimated the potential market for its data centre AI chips could reach $45bn this year.
ASX to slip. SPI Futures down 15 points (-0.21%).
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