Pre-Market Report – Friday 15 August: US markets flat | PPI in focus, COH results

Wall Street recorded a rather flat session as a better than expected producer prices report cooled expectations of the speed of potential interest-rate cuts. S&P 500 inched up 0.03%, Nasdaq inched down 0.01%. Dow fell slowly from the open, troughing at around noon, before recovering to previous levels. Closed near high, down 11 points. Mixed sector performance. Healthcare best performer, was second in the previous session, regaining some strength after being one of the weaker performers this year due to Trump’s threat of a tariff which may raise to 250%. Financials, Cyclicals and Tech also recorded positive gains. Defensive sectors tended to struggle – Industrials, Utilities and Materials all down.

In corporate news, Intel jumped 7.4% after reports the Trump administration is exploring a government stake in the chipmaker. Cisco slipped 1.6% as a steady forecast failed to spark enthusiasm. Deere dropped 6.8% on weaker quarterly earnings and a narrowed yearly outlook while Tapestry plunged 15.7% after issuing a profit forecast that missed expectations.

Resources mixed despite some dollar strength. Oil gained on Trump’s threat of “severe consequences” if his talks with Putin failed. Copper flat, nickel down while zinc gained.

ASX to rise. SPI futures up 8 points (+0.09%).

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