US equities finished mixed overnight. Blue chip Dow Jones closed down 72 points (-0.22), weighed down by healthcare stocks. Dow at worst down 171 points. S&P 500 was essentially unchanged, down 0.04%, and the NASDAQ gained 0.27% after Powell reiterated that interest rates would rise further this year and that he did not see inflation falling to its target rate this year or next year. US treasuries softened ahead of Friday's PCE price index results, and the greenback strengthened on Powell’s tough talk. Among stocks, Nvidia fell 1.8% after the US government is considering restrictions on exports of AI chips to China and Netflix gained 3.06% after Oppenheimer raised its price target.

European markets higher overnight near best levels, STOXX 50 +0.9%, FTSE +0.5%, CAC +1%, and DAX +0.6% as strong economic data on Tuesday soothed recession jitters, even as Lagarde warned that there is still not enough evidence of inflation cooling down. 

• SPI futures down 5 points (-0.07%)
• Gold down 0.32%, to a near 4-month low after hawkish comments from the Fed.
• Copper down 1.13% after weak industrial profit numbers were released from China yesterday.
• Nickel -3.23% Aluminium -0.84% Zinc -0.86%, Lead -0.93%, and Tin -0.55%.
• WTI Crude gained 2.75%, and Brent rose 1.48% after a bigger than expected decline us US Crude inventories.
• Bond yields declining globally overnight - 10-year yield: US 3.71%, Australia 3.85%, and Germany 2.31%.

Catch up on the latest news 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.

Make life simple. Invest with Marcus Today.