
Market Updates
A twice-daily podcast from the Marcus Today team, designed for self-directed investors. Stay informed with the latest stock market, financial, and business news, published every weekday just before the market opens and after it closes (AEST).
Market Updates
Pre-Market Report – Tuesday 1 July: US markets hit records | SPI down 3
Wall Street ended the quarter on a high as both the S&P 500 and the Nasdaq reached record levels. Putting the bow on their best quarter in over a year, buoyed by possible trade deals and rate cuts. S&P 500 up 0.52%, Nasdaq up 0.47%. Dow was choppy in the early stages of the session, falling and rising intermittently, but found strength to finish near the high. Up 276 points. Most sectors up, Energy and Cyclicals the exception. The former is deflating from the recent, sharp drop in oil while the latter was weighed down by Tesla and Amazon, the two largest companies, falling 1.8% each. REITS was the best performing sector, falling yields and expectations of rate cuts benefitting the sector. Financials gained, additionally boosted by their victory in the Fed’s annual health check which prepared the stage for stock buybacks and dividends.
Resources mixed. Oil mixed as Brent and WTI diverged. Weakening dollar offered some support but there were little major gains. Nickel, zinc, iron ore all fell.
ASX to open flat. SPI futures down 3 points (-0.0%).
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