Pre-Market Report – Thursday 14 August: US rises slightly | Super Thursday - WBC, TLS, SUN

Wall Street recorded another positive session with the S&P500 and the Nasdaq closing at new record highs for the second consecutive day after yesterday’s inflation came in broadly as expected, bolstering the case for the Fed to resume easing. S&P 500 up 0.32%, Nasdaq up 0.14%. Dow jumped at the open, weakened a little as the day progressed, but found renewed strength toward the end to finish near a fresh high. Up 464 points. Mainly broad and strong sector performance. Materials best performer, one of the top three yesterday too. Healthcare also did well, one of the weaker performers this year due to Trump’s threat of a tariff which may rise to 250%. Cyclicals and Energy the next best performers. Tech and Utilities the only negatively performing sectors from the overnight session.

In corporate news, Nvidia slipped 0.9%, Alphabet fell 0.7% and Microsoft dipped 1.6% as the market looked beyond some of the Magnificent Seven for growth momentum. Apple advanced 1.6% on reports of AI-powered robotics and smart home ambitions. CoreWeave, backed by Nvidia, plunged 20.8% after posting a larger-than-expected quarterly loss, underscoring the earnings pressure weighing on some high-profile AI plays.

Resources down despite dollar weakness. Oil hit a two-month low as the IEA reported that US crude stocks rose by 3m when expectations were for a 275k increase. Copper, nickel and zinc all down.

ASX to rise. SPI futures up 32 points (+0.36%). TLS WBC SUN Results - Super Thursday.

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