Pre-Market Report – Tuesday 19 August: US markets unchanged | BHP, CSL, RWC, MND results

Wall Street recorded a rather flat session as markets await the Jackson Hole summit and retailers’ earnings. S&P 500 flat, Nasdaq flat. Dow was choppy in early trading and fell from about 1pm onwards but recovered some strength before the close. Closed mid-range, down 34 points. Mixed sector performance. Cyclicals best performer, 1.4% rise in Tesla a primary driver as the car company promised the launch of its Model Y L in China "soon". Industrials and Financials also did well. REITs struggled at the opposite end, while Materials and Energy also recorded losses.

In corporate news, Intel dropped 3.7% after reports surfaced that the Trump administration is considering a 10% stake in the chipmaker. Dayforce rocketed 26% on speculation of a takeover by private equity firm Thoma Bravo. Solar names gained, with SunRun up 11.4% and First Solar up 9.7%, after the US Treasury released looser-than-expected subsidy rules for renewable projects.

Resources down, stronger dollar a headwind. Oil up as investors focus on Trump and Zelensky met. Copper, aluminium and zinc are all down.

ASX to fall. SPI futures down 23 points (-0.26%). BHP CSL MND RWC results out. Busy Day.

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