Marcus Today Pre-Market Podcast – Friday 16th February
US stocks closed higher on Thursday as retail sales data disappointed, fuelling expectations of potential interest rate cuts by the Fed in the coming months. The S&P 500 rose by 0.58%, the NASDAQ by 0.30%, and the Dow Jones climbed by 350.07 points or 0.91%. US Treasury yields edged lower, with the 10Y Treasury note down 2.4bps 4.242%, marking its second consecutive decline after a rally earlier in the week. The USD also weakened for a second day amid mixed economic data, reinforcing beliefs that the Fed might begin cutting interest rates by June. Betting odds for a rate cut of at least 25bps in May rose to 40%, with June standing at roughly 79%, according to the CME Group's FedWatch Tool.
ASX SPI up 72 points
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