Episode Details

Wall Street closed narrowly mixed after fresh data showed consumer sentiment fell to a six-month low and short-term inflation expectations picked up. Dow up 125 points (+0.32%), marking its eighth consecutive gain, S&P 500 rose 0.16%, and the NASDAQ ended marginally lower, off 0.03%. For the week, Dow +2.16%, S&P 500 +1.85%, and NASDAQ +1.14%. Q1 reporting season in the US is nearing the finish line. Of the 459 companies in the S&P 500 that have reported, 77% exceeded expectations, according to LSEG data. Treasury yields rose ahead of inflation data next week, with the 10Y up 4.1bps and the 2Y up 5.2bps.

ASX SPI Futures down 9 points. Quiet day ahead.

• Base metals mixed. Nickel +0.47%, Zinc +0.76%, Lead -0.23% and Tin -1.21%.
• Aluminium down 1.42% as LME registered warehouse reported an 88% jump in aluminium stocks to 903,850 metric tons, their highest level since January 2022.
• Copper up 0.80% as traders chased arbitrage opportunities with growing gaps between prices in Chicago, London and Shanghai.   
• Gold up 0.78%, building on momentum fuelled by weaker US jobs data this week.  
• Oil prices fell nearly $1 a barrel overnight on further comments from Fed officials reinforced higher for longer interest rates.  WTI -1.30% and Brent Crude -1.52%.
• Currencies – AUD -0.26%, USD Index +0.07%, Euro -0.11%, and Bitcoin -3.01%.
• 10Y Bond Yields – US 4.500%, Australia 4.360%, and Germany 2.514%.

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