Market Updates
A twice-daily podcast from the Marcus Today team for self-directed investors.
Published every weekday before the ASX open and after the close (AEST), these short updates cover what's moving markets, key developments overnight, and the themes shaping the trading day.
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Market Updates
Pre-Market Report – Thursday 18 April: US Down but Commodities Higher
The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward pressure on the market. The broad index lost 0.58% to 5,022.21, while the Nasdaq slid 1.15% to 15,683.37. The Dow Jones fell by 45.66 points, or 0.12%, to 37,753.31, despite rising nearly 238 points at its high of the day.
ASX to rise. SPI Futures up 20 points (+0.26%).
- Base metals are higher across the board, supported by a weaker USD and supply concerns. Copper +1.36%, Nickel +3.17%, Aluminium +1.19%, Zinc +2.73%, Lead %, and Tin +3.02%.
- Gold eased 0.92% but traded near record highs hit last week.
- Oil prices fell sharply pressure by a rise in US crude inventories and weak economic data from China, WTI -2.98% and Brent Crude 3.03%.
- Iron ore futures rebounded overnight to hit a more than five-week high in anticipation of pre-holiday restocking by steelmakers in China. Dalian Iron ore +4.95, and Iron ore +5.41%
- 10Y Bond Yields – US 4.589%, Australia 4.326%, and Germany 2.467%.
- Currencies - Aussie dollar flat, USD Index -0.30%, Euro +0.01%, and Bitcoin -4.09%.
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