- US markets found some solid ground after a slow start. The Dow Jones finished up a modest 32 points (+0.10%) but most importantly, it didn't give back any of the 1200 point gain the night before. Building foundations. At worst, down 321, at best, up 103. The S&P 500 gained 38 points (+0.95%) in its best week since June. While the NASDAQ rose a further 209 points (+1.88%) to round out its best week in two years. In Europe, the STOXX 600 was unchanged, the German DAX, France and Italy saw some gains, but the UK FTSE, Spain, and Greece finished lower.
- SPI Futures are up 42 points (+0.59%) this morning, which follows the 2.79% gain yesterday.
- The Nasdaq Golden Dragon Index rose 6.6% on Friday, extending a 7.6% gain in the previous session and capping its best two-day performance since March 17.
- Commodities also found favour following the news out of China (quarantine periods reduced by 2 days) with rallies across the board. Base metals pushed higher, aluminium, zinc, and tin were all up over 5%, with big gains in copper, nickel, and lead. Oil prices continued to rally, Brent crude was up 2.92%, and WTI was up 3.03%. BHP and RIO raced ahead overseas, with gains of around 6.5% each in the US. Other resources stocks also had a good night, Alcoa was up 8.74%, Anglo-American was up 6.99%, and Vale was up 11.55%.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.
