Marcus Today Pre-Market Podcast – Monday 7th November

Marcus Today Market Updates

• Dow Jones up 402 in high volume (+1.26%). Down 62 at worst and up 610 at best. S&P 500 +1.34%. NASDAQ +1.28%. The US markets had a pretty shabby week last week with the Dow Jones down 1.4%, the NASDAQ down 5.6% and the S&P 500 down 4.6%. STOXX 600 index up 1.81% overnight with the UK market up 2% and Germany up 2.5%, France up 2.8%. The Chinese market was up 5.3% last week. The Hang Seng (Hong Kong) was up 5.3% on Friday.
• SPI Futures up 91 this morning. That follows a 35 point rise in our market on Friday. The ASX 200 was up 116 points (1.66%) last week. It was led higher by the resources sector (+3.53%) and the energy sector (+4.96%). Gold the loser of the week down 2.05% although the gold price is up a big $50 overnight (+3.12%) so the gold sector looking good for a bounce.
• Over the weekend the Chinese have denied any changes to CV19 policy so we are unlikely to see such a good response from our market today.
• WBC results out this morning $5.28bn cash profit and 64c fully franked dividend. More cautious than ANZ. The bank said it had not yet seen increases in hardship or stressed assets, with 68% of its customers still ahead on their mortgage repayments.
• MPL update on cyber crime. Operations have been maintained.

Get up to speed with Henry Jennings’ Pre-Market Podcast.
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.