Pre-Market Report – Tuesday 9 April: Iron Ore Jumps | Gold Hits Fresh Records

US equities kicked off the week essentially unchanged following a choppy day of trade, with the solar eclipse offering a distraction leading into a busy week including CPI and the start of first-quarter earnings.

All three major indices ended near flat, the Dow closed down 11 points (-0.03%). Up 109 points at best, down 46 points at worst. The S&P 500 eased 0.04% while the NASDAQ edged up 0.03%. US 10Y treasury yields rose to their highest level since November coming within striking distance of the 4.5% level in the wake of Friday’s blowout employment report. Mega cap stocks were mixed,

Tesla jumped 4.9% after Musk said the company would unveil its self-driving Robotaxi, Nvidia eased 1.0%, while cryptocurrency-related stocks outperformed tracking bitcoin +3.64% prices Coinbase +6.7% and MicroStrategy +5.1%.

ASX to rise. SPI Futures up 36 points (+0.46%).

• Base metals firmed on a weaker USD. Nickel flat, Zinc +1.01%, Lead +1.61%, and Tin +3.65%.
• Copper gained 0.70%, hitting a 14-month high. Aluminium up 0.27% reaching a 13-month high.
• Gold advanced 0.62% for a seventh straight session.
• 10Y Bond Yields – US 4.422%, Australia 4.194%, and Germany 2.434%.
• Currencies - Aussie dollar flat, USD Index -0.15%, Euro -0.01%, and Bitcoin +3.64%.
• Oil prices eased overnight, ending a multi-session rally. WTI was down 0.51%, its first fall in seven sessions, while Brent lost 0.28%, its first fall in five sessions.

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