Pre-Market Report – Friday 27 September: US markets rally | Resources race ahead

US stocks rose Thursday, with the S&P 500 hitting a new record, following the release of upbeat U.S. economic data. The broad market index climbed 0.40% to 5,745.37. The index posted a new all-time high during the session and a record close, lifted by gains in Micron Technology. The Nasdaq Composite added 0.60%, closing at 18,190.29. The Dow Jones Industrial Average advanced 260.36 points, or 0.62%, to end at 42,175.11.

Jobless claims  fell more than expected, pointing to a steady labor market. Durable goods orders for August were unchanged versus economists’ expectations for a decline. Further, the final reading of second-quarter GDP was unrevised at a strong 3%.

ASX SPI up 19 - Resources in Focus

COMMODITIES

• Silver hits 12-year high, chasing gold's record-breaking rally.
• Copper breaks above key $10,000 mark after China unveils fiscal stimulus.
• Iron ore extends gains to near $100/t after China pledges more stimulus.
• Oil prices slide 3% on prospect of more OPEC+ oil.
• About 25% of Gulf Of Mexico oil production shut in due to Hurricane Helene.
• OPEC+ set to go ahead with Dec oil output hike.
• World coffee, sugar prices surge as drought-hit Brazil awaits rains.

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