Pre-Market Report – Tuesday 5 August: US markets bounce hard | SPI up 88

Wall Street jumped, recording its best day since May 27, as investors bought into the opportunities from Friday’s sell-off following weak US jobs numbers and Trump’s firing of the Bureau of Labor Statistics Commissioner for producing “rigged” numbers. Shows investor appetite for risk is still there, just looking for reasons or opportunities. S&P 500 up 1.47%. Nasdaq up 1.95%. Dow jumped at the open, and remained steady throughout the day. Closed near high, up 585 points. Broad sector performance. Tech the best performer, up over 2%. Meta, Alphabet, Nvidia all gained over 3% without major news – just strong appetite to enter these names at slight discounts. Utilities and Materials also did well, easing yields helping the former, and stellar conviction in the US economy helping the latter. Healthy to see top performing sectors being a mixture of growth and defensives. At the opposite end, Energy followed oil down and Staples recorded minor losses.

SPI up 88 - Gold steady - CCP Results

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