Pre-Market Report – Thursday 22 October: US markets push higher - Tesla and Meta results after hours - SPI up 5 - NXT in focus.
Market UpdatesShow Notes
The Nasdaq Composite added 1.05% to end at 26,702.86, and the S&P 500 rose 0.58% to 7,757.17. The Dow Jones Industrial Average climbed 360.21 points, or 0.69%, to close at 52,856.09. Shares of Elon Musk’s SpaceX surged 7% after the company said its revenue grew 161% in the third quarter. Musk also said that SpaceX and Tesla, his auto manufacturer, have formed special committees to discuss a merger. Tesla, which is due to report earnings later, saw shares rise more than 3%. US mortgage rat...
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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...
The ASX 200 closed down 38 points at 8793, well off the lows, as the banks continued to offer stability, whilst mining stocks were generally easier, with comments from FMG on Chinese iron ore negotiations hurting the big boys and falling 4.5%. BHP lost 2.4%. Gold miners were also slipping after a slightly positive start, but bullion prices eased in Asia. The oil and gas sector was also easier, with WDS down 3.5% and STO down 1.3%. The banks held steady, with ANZ up 1.2% and the Big Bank Baske...
A big hit for Nextdc today, down more than 40% after a power delay at its Melbourne data centre slashed its earnings guidance. The ASX 200 still edged higher as the banks bounced. The RBA’s Hauser warned inflation is running well above forecast, and markets now see a November rate hike as more likely than not. Marcus Today – Daily Market Insights Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without...
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Marcus Today – Daily Market Insights Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise. If you'd like to go further: Start a free 14-day trial of Marcus Today http://bit.ly/mt-trial-podcast Join Marcus Today Use code MTPODCAST for 10% off http://bit.ly/mt-join-podcast-offer MT20 – Managed ETF Portfolio A professionally managed portfolio run by Marcus Padley and the team, using ASX-...