Market Updates

Pre-Market Report – Wednesday 30 April: US markets rally for sixth day | WBC takes a hit


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Wall Street recorded another set of gains on Tuesday in a choppy session as markets weighed upcoming earnings, economic data and changing trade policy. Sixth straight day of gains for the S&P 500. S&P 500 up 0.58%, NASDAQ up 0.55%. Dow fell early on but recovered to end the day up 300 points (+0.75%). Closed near high. All sectors in green except Energy. Lower oil prices. Materials and Non-Cyclicals top performing sectors. Trump signed an order to reduce the impact of his auto tariffs to positive results. Ford up 1.3%, Tesla up 2.2%, most of the Magnificent Seven. General Motors down 0.6% but it pulled its outlook amid tariff uncertainty. Visa up 1.2% after beating estimates on strong card spending volumes. Coca Cola (+0.8%) also beat estimates but guided tariffs could hurt consumer sentiment. Resources mixed. Oil down to two weak low. OPEC+ boost to output and fears of global economic slowdown. Metals mixed. Aluminium up +1.3%, Nickel down 0.4%.

ASX to rise. SPI futures up 28 points (+0.35%).

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