Pre-Market Report – Monday 26 October: US Markets pullback - SPI down 43 - Inflation data this week - Central bank Fest!
Market UpdatesShow Notes
Wall St fell Friday as oil kept climbing and breadth turned notably negative (having initially held up during the Thursday night tech rout). Dow Jones down 653 points. S&P 500 down 0.52%. Nasdaq down 0.21%. Russell 2000 down 0.29%. Mag7 down 0.54%. SOX up 0.44%. SaaS up 1.7%. ASX set to fall today. SPI Futures down 43 points or 0.5%. For the week, the S&P 500 fell 0.47% and the Nasdaq dropped 0.71% as Meta reignited AI debt concerns and Middle East dysfunction continued. Mag7 do...
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ASX closed up 40 points or 0.46% on Tuesday. 5 of 11 sectors higher. Materials was best, up 2.78%, as copper strength followed with the chip bounce on Wall Street after Anthropic’s IPO filing. BHP closed up 4.3%, RIO up 2.5%, S32 up 2.6% and LYC up 3.5%. Communications was worst, down 0.80%, with REA down 3.3%. Financials fell 0.59% as banks weighed for another day, the Big Four all closing down between 0.1% and 1.7%. NAB was weakest on reports it was hiring internationally while cutting Aust...
Stocks rose Monday as semiconductor makers rallied after Anthropic’s IPO filing revived enthusiasm for the artificial intelligence trade. The Dow Jones Industrial Average added 146.42 points, or 0.28%, to end at 52,361.58. The S&P 500 gained 0.7% to 7,676.77, while the Nasdaq Composite jumped 0.82% to close at 26,169.38. Chip stocks and other AI-related shares rose as Anthropic publicly filed for an IPO, an offering investors are betting will add new life to the flagging tech sector...
The ASX 200 fought back from early losses to close up 15points at 8,810 (0.2%) Banks, which were the source of weakness early, rallied, with CBA down 0.5% and the other three down around 0.7%. Insurers eased, with QBE down 1.2% and IAG down 0.3%. In other financials, CGF knocked back the bid from the Japanese, falling 0.6%. REITs were better, led by GMG up 2.6% and VCX up 1.7%. Elsewhere, safe havens came under a little pressure, with WOW down 2.1% and COL down 1.5%, together with TLS. Retail...
ASX closed up 2 points or 0.02% on Friday. 7 of 11 sectors higher. Materials sank 3.85% as gold, copper, silver and lithium prices fell after the overnight Wall Street tech sell-off. BHP closed down 3.6%, FMG down 2.1%, PLS down 8.1%. Discretionary and financials performed best, up 2.57% and 2.21%, as investors found defensive ground and retail bargains. The Big Four closed up between 0.9% and 4.3%, with CBA best. WES up 3.8%, NCK bounced 5.2% after falling 15.3% yesterday. Gold miners strugg...
US stock indices closed lower on Thursday amid a sell-off in technology stocks. The S&P 500 fell 1.2%, and the Nasdaq lost 2.9%, while the Dow closed flat. Tech stocks were under pressure as corporate earnings failed to impress, renewing concerns over the AI trade, while the rotation away from semiconductor stocks continued. Meta sank 7% despite reporting higher earnings and revenue, as its credit risk reached a record high. Meta plans to ramp up capital spending reignited fears that tech...