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Pre-Market Report – Monday 16 March: US markets slip - Kharg Island the focus as Oil rises - SPI down 61

Published 2 weeks, 2 days ago
Description

US stocks finished down for the last session of the previous week. The S&P500 dropped 0.6%, the Nasdaq 0.9% and the Dow 119 points. Brent oil went up again to US$103 a barrel. Almost everything else, commodity wise, was down. Industrial metals in London were all red. Gold slipped again, threatening now to fall below US$5000 an ounce. Gold stocks fell in North America, and copper shares did just the same. There was no shelter in uranium and lithium either. Energy was the second best performer in the S&P500 but again the shares are more subdued than you’d think considering the rise in cashflow. 

SPI down 61 - Oil the focus - RBA and Fed this week.

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