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Pre-Market Report – Thursday 12th September: US markets rally after CPI and Nvidia
Manage episode 439433221 series 2991632
All three major US indexes closed higher overnight, with a rebound in tech stocks offsetting earlier losses following a disappointing inflation report, which crushed hopes for a 50bps cut from the Fed next week. Wide range from Dow overnight. Up 167 points at best. Down 744 points at worst. Finishing up 125 points (+0.31%). The S&P 500 gained 1.07%, it was the first time the index has bounced back from an intraday low of at least 1.5% since October 2022. The S&P 500 Tech Index rose 3.25%, supported by gains in Nvidia up 8.1%, following reports that the US government is considering letting them export chips to Saudi Arabia.
ASX SPI up 50
COMMODITIES
- Putin says Russia considering export limits on uranium, titanium, and nickel to protest Western sanctions.
- China's CATL says plans to adjust lithium production in Jiangxi.
- Vale bumps up 2024 iron ore production forecast, shares rise.
- Peru copper output this year forecast below expectations, deputy minister says.
- Nippon Steel trying to salvage its $14.9bn bid for US Steel.
- Oil recovers on worries about Hurricane Francine.
- US oil stocks build as crude imports rise, fuel demand weakens – EIA.
- Gold falls as CPI data dampens talk of oversized US rate cut.
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1564 odcinków
Manage episode 439433221 series 2991632
All three major US indexes closed higher overnight, with a rebound in tech stocks offsetting earlier losses following a disappointing inflation report, which crushed hopes for a 50bps cut from the Fed next week. Wide range from Dow overnight. Up 167 points at best. Down 744 points at worst. Finishing up 125 points (+0.31%). The S&P 500 gained 1.07%, it was the first time the index has bounced back from an intraday low of at least 1.5% since October 2022. The S&P 500 Tech Index rose 3.25%, supported by gains in Nvidia up 8.1%, following reports that the US government is considering letting them export chips to Saudi Arabia.
ASX SPI up 50
COMMODITIES
- Putin says Russia considering export limits on uranium, titanium, and nickel to protest Western sanctions.
- China's CATL says plans to adjust lithium production in Jiangxi.
- Vale bumps up 2024 iron ore production forecast, shares rise.
- Peru copper output this year forecast below expectations, deputy minister says.
- Nippon Steel trying to salvage its $14.9bn bid for US Steel.
- Oil recovers on worries about Hurricane Francine.
- US oil stocks build as crude imports rise, fuel demand weakens – EIA.
- Gold falls as CPI data dampens talk of oversized US rate cut.
Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
Ready to invest in yourself? Join the Marcus Today community.
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