Market Updates

Pre-Market Report – Thursday 15 May: US markets mixed | Gold and oil slip


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Wall Street recorded another mixed session as sectors diverged in their reactions to the US-China trade deal. S&P 500 up 0.10%, NASDAQ up 0.72%. Dow down. Rose at the open and fell throughout the day before recovering somewhat near end. Ended down 89 points. Mid-range. Primarily negative sector performance. Tech only sector up more than 1%, Cyclicals only other sector up, Financials flat. Alphabet Tech leader, up 3.7% without major news, recovering from some recent weakness. Nvidia up 4.2% after reports US close to allowing UAE to import millions of Nvidia chips. Healthcare worst performing sector, continuing recent struggles. Pharma companies have begun considering moving early stage trials outside of US following US layoffs and policy changes. REITS down as yields tick higher. Cisco down 0.8% despite raising annual results forecast on AI demand. Netflix up 1.1% after announcing ad-supported service has 94m subscribers. Ford down 0.6% after recalling 273,000 vehicles in US as break fluid leakage increases risk of accident. Resources up. Oil down after recent rises. Base metals had good night. Iron ore hits 5 week high, up over 2%. Zinc, Aluminium, Nickel all up over 1%.

ASX to fall. SPI futures down 36 points (-0.43%). Gold and oil down - Iron ore up

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