Pre-Market Report – Monday 15 December: US market pulls back on AI fears | SPI down 51 points

Wall St had a nasty fall overnight as Broadcom results drove an uptick in AI ROI concerns and hawkish Fed speak drove up bond yields. S&P 500 down 1.1%. Closing near the low on average volume. Dow down 370. Nasdaq down 1.7%. Its worst session since the Nvidia results drop on 20 November. All about Tech as Broadcom down 11.4% compounded the 10.8% Thursday night fall in Oracle. 

• Copper fell 3% on the LME as profit taking crept in after a record breaking week. Supply disruptions, weak USD and strong demand took the metal within touching distance of the $12,000 mark. USD index flat overnight, down 0.6% for the week.
• Gold rose but silver fell after also hitting record highs in the previous session. Silver’s appeal as both a store of wealth and having manufacturing applications has seen it rise 100% this year vs gold up 60%.

SPI down 51 - TWE Trading halt.

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