Pre-Market Report – Friday 13 December: US markets slip | DGT hits the bourse

 US equities pulled back overnight as hotter-than-expected US PPI data weighed on market sentiment. The Dow ended near session lows, down 234 points (-0.53%). Up 60 points at best. Down 245 points at worst. The NASDAQ fell back below 20,000 as tech stocks pulled back ahead of the Federal Reserves policy meeting next week and the S&P 500 lost 0.54%. On the economic front, US producer prices rose 0.4% MoM in November, the largest gain in five months. Annual PPI inflation accelerated to 3% from 2.6%. Core PPI rose 0.2% MoM, matching forecasts, with the annual core rate steady at 3.4%. Initial jobless claims in the US jumped to 242k in early December, up 17k from the prior week and above forecasts of 220k, the highest since October. US treasury yields rose following fresh economic data which confirms that the Fed will cut rates by 25bps next week. USD index up 0.28%, Bitcoin off 1.18%, and the AUD is flat. 

SPI down 55 points - Bid for IFL - DGT first day of school.

• WTI down 0.45% pressured by a forecast for ample supply in the oil market by the IEA.
• Copper fell 0.97% due to a firming USD. Nickel and aluminium found buyers, up 2.05% and 0.12%, respectively. Zinc, lead and tin are all down over 1.5% each.
• Gold slid 1.28% on profit-taking after the yellow metal hit a five-week high.
• Iron ore rebounded, up 1.0%, while Dalian fell 1.10% as markets wait for further clues on policy easing from a key economic meeting in China.

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