Pre-Market Report – Thursday 27 November: US markets rally into Thanksgiving | SPI up 30

US stocks rose overnight, with the SP500 up 0.69% and Nasdaq 0.85%. It was on light volume, with under 15 billion shares traded against the usual 20bn. The markets are closed tomorrow for the Thanksgiving holiday. The VIX fell back further, now under 20. It was a solid session for chip stocks, with Nvidia stabilising 1.3% and even stronger gains in Broadcom, Intel and Advanced Micro Devices. The other big tech stocks were middling, save for Microsoft and Tesla that rose 1.9% and 1.6% respectively.

SPI futures up 20 points. ASX set to open higher. Resources in focus - QBE Update.

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