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Pre-Market Report – Thursday 6 August: US markets ease - Dow higher at new record - SPI down 9 - Gold shines - REA and NWS Results - AMP Buyback

Published 2 months, 3 weeks ago
Description

US stocks closed near record levels on Wednesday as an improving macroeconomic backdrop and strong corporate earnings supported sentiment. The S&P 500 inched down 0.2%, closing near yesterday's record. while the Dow added 263 points to reach a record 54,349. Crude oil prices extended their decline after Iran said it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, while US officials signaled progress in talks aimed at restoring trade flows through the region, easing concerns over energy-driven inflation. Credit sensitive sectors, including major banks, outperformed. Arista Networks rose 3.6% after reporting stronger-than-expected revenue. Eli Lilly gained 4.9% after beating revenue estimates and raising its full-year guidance. In contrast, the Nasdaq slipped 0.8%. SpaceX slumped 13.6%, giving back the previous session's gains, while AMD dropped 7% despite doubling data center revenue.

SPI down 9 - Gold shines - AMP buyback - REA and NWS results

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