Pre-Market Report – Monday 2 September: US markets push higher | SPI down 18

The S&P 500 ended the final session of the week higher with a late spike. The latest batch of data pointed to an ever-resilient US consumer, potentially slowing the pace of rate cuts. Dow +0.6%; S&P +1% Nasdaq +1.1%.

The benchmark S&P 500 finished August with a 2.3% gain for the month. It’s now up 18.4% so far this year and is within 0.4% of the all-time high it set in July.

ASX SPI Down 18

• BHP moves ahead with expansion of South Australia's Olympic Dam copper refinery.
• Oil settles $1 down as supply set to rise, uncertainty around Fed rate cuts.
• OPEC+ likely to proceed with planned output hike from October, sources say.
• Gold drops as dollar, yields firm after US inflation report.
• Copper steadies on China hopes, firm dollar weighs.

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