Pre-Market Report – Friday 24 May: Boeing Hurts Dow, Nvidia Helps NASDAQ

U.S. stocks ended Thursday’s trading session in the red. The Dow Jones Industrial Average declined 605.78 points, or 1.53%, marking its worst day of 2024. The S&P 500 dropped 0.74%, and the Nasdaq Composite fell 0.39%.

Boeing falls over 7% dragging Dow lower. Nvidia up 9.3% helping Nasdaq.

ASX SPI Futures down 83.

• Oil falls for fourth straight session on US inflation jitters.
• Gold slips to over one-week low on hawkish Fed.
• Copper dips for third straight day on profit-taking, weak demand.
• Texas power demand to break May record in heat wave on Friday.
• China's food security dream faces land, soil and water woes.
• China state stockpiler aims to buy up to 15,000 T of cobalt.
• Copper’s M&A mania obscures a dysfunctional market.
• Russia finds it challenging to keep the lid on oil output.

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