Pre-Market Report – Monday 16 September: US heads towards new records | Fed in focus
- Author
- Marcus Today
- Published
- Sun 15 Sep 2024
- Episode Link
- None
Wall Street ends the week on a positive note as markets raise bets for a bigger rate cut by the Fed next week. The S&P 500 rose 0.54% overnight, and is up 4% for the week, its best week since November and is within 50 points of its all-time high reached in July. The Dow advanced 297 points (+0.72%). Up 437 points at best and up 2.6% for the week. The NASDAQ rose 0.65% (+5.95% for the week) and small caps Russell 2000 which is more sensitive to rate changes, outperformed jumped 2.49%.
ASX SPI up 16 points - Eyes Records again
COMMODITIES
- Putin's commodities ban threat puzzles Russian firms and officials.
- Nippon Steel bid for U.S. Steel faces Sept. 23 review deadline, sources say.
- Oil eases on resuming US output after storm, rising rig count.
- Copper, aluminium, zinc hit two-week high on weak dollar.
- US offshore oil industry reawakens after Francine shut-ins.
- Gold bulls set sights on previously dismissed record $3,000/oz milestone.
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