Pre-Market Report – Thursday 29 August: Nvidia falls 7% on results and $50bn buyback

The Nasdaq Composite fell 1.12% to close at 17,556.03, while the S&P 500 slipped 0.6% to end at 5,592.18. The Dow Jones Industrial Average lost 159.08 points, or 0.39%, settling at 41,091.42.

Nvidia reported after the bell.

ASX to fall. SPI Futures down 22 points (-0.27%)

• Gold falls on firmer dollar as US data takes spotlight.
• Iron ore retreats from 3-week high as investors await signs of demand recovery.
• Oil prices fall 1% after US crude stocks draw; Libya supply risks limit losses.
• Chinese demand worries trigger funds sell-off in metals.
• Argentina official says lithium, copper to drive metal exports to $10bn by 2027.
• Libya's oil blockade widens as factions vie to control central bank.
• US crude stockpile fall week-over-week though by less than expected.

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