Pre-Market Report – Friday 7 November: US markets continue pullback | Bitcoin slips, gold steady

US stocks down overnight, with SP500 down 1.1% and the Nasdaq off 1.85%. The VIX sprang back 11% to close just under 20. Bitcoin can’t lift strongly either.  Big Tech under some pressure, with TSLA -3% as shareholders sweat the Musk pay deal. Meta and Amazon were both off over 2%, and Nvidia is now down 9% in 3 sessions. Apple managed to weather the selling and stay flat. Some recent (private) data shows a grim statistic for American workers. October saw the most job cuts for that month in two decades. Technology and warehousing were the leading sectors shedding jobs. The AI impact continues. 

SPI futures are down 14 points. ASX set to open lower. MQG results - Gold steady - Bitcoin falls.

Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.

If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.
 
 Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.