Pre-Market Report – Friday 11 October: US markets slip slightly on CPI | Tesla awaits

US equities came under pressure overnight following hotter-than-expected inflation data and a slowdown in the labour market raising bets that the Fed will opt for a smaller cut next month. The Dow Jones eased 58 points (-0.14%). Down 204 points at worst. S&P 500 took a breather coming down from yesterday's record high, off 0.21%, and the NASDAQ finished near flat, off 0.05%. Treasurys finished lower too. The 2Y yield, which is more sensitive to Fed policy expectations fell 6bps after it rose to 4.094% during trade, its highest since mid-August. 10Y slightly lower, down 0.06% after hitting a 10-week high of 4.12%. Aussie dollar up 0.34% to 67.40c, USD Index down 0.06%, and Bitcoin off 2.24%. WTI and Brent prices jumped over 4% before finishing up 3.53% and 3.21% following a spike in US fuel use before Hurricane Milton and signs demand for energy could grow in the US and China.ASX to inch lower. SPI Futures down 3 points (-0.04%). COMMODITIESOil prices jump 4% on US storm and Israel-Iran fears.Gold extends gains as rate cut bets strengthen after US economic data.Copper rebounds ahead of news on further China stimulus.Stop Israel from bombing Iran's oil sites, Gulf states urge US.Chile's Codelco copper production up 10% in August.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence. Ready to invest in yourself? Join the Marcus Today community.