Wall Street recorded a positive session as Apple jumped 5.1% after pledging to invest $100Bn in domestic manufacturing while positive earning beats boosted risk-on sentiment. S&P 500 up 0.73%, Nasdaq up 1.21%. Dow dropped at the open, but recovered within the first hour and remained steady, falling a little just before the close. Closed mid-range, up 81 points. Mixed sector performance. Cyclicals the top performer, Amazon gaining 4.0% and Tesla rising 3.6% boosted the sector. Staples and Tech also saw gains of over 1.0%. Healthcare worst performer. Uncertainty of tariffs continues to weigh heavily on sector, not helped by Trump’s latest threats to hike tariffs on pharmaceuticals to 250% within 18 months. Energy followed oil down, and REITS dipped as yields inched up following a weaker than expected 10Y auction.

Resources up. Weakening dollar a boost. Oil fell to 8-week low as Trump’s talks with Putin raised doubts about US sanctions on Russia. Copper, nickel, aluminium and zinc all gained.

ASX to fall. SPI futures down 24 points (-0.27%). AMP and LNW results.

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