Manage episode 375686156 series 2991632
US markets extended gains for a fourth straight session following more economic data pointing to moderation, cementing bets the Fed is approaching the end of its rate hikes. Dow up 38 points (+0.11%). Dow at best up 173 points. Dow at worst down 41 points. S&P 500 breached 4,500, up 0.54% led by tech mega-caps, while regional banks fell. Nasdaq gained 0.54% as bond yields and the USD softened. US small caps Russell 2000 up 0.40%. US ADP private payrolls came in softer than expected, private businesses hired 177k workers in August, the least in five months, missing expectations of a 195k rise and Q2 US GDP also missed expectations, up 2.1% vs 2.4% consensus marginally rising from Q1’s 2.0%. Among stocks, Nvidia rose 1.0% and Apple gained 1.9% after the company sent invitations to unveil the iPhone 15 on Sep-12.
- ASX to edge higher. SPI Futures up 4 points (+0.06%).
- Gold firmed, up 0.62%.
- Copper extended gains, up 0.26% after the dollar dropped and more weak US data.
- Nickel -0.39%, Aluminium +1.45%, Zinc -0.61%, Lead -0.43%, and Tin +0.24%.
- WTI and Brent were up 0.51% and 0.62% after US data showed tighter crude supply.
- AUD -0.2% to 64.72c. USD Index down 0.36% to 103.16.
- 10Y yield: US 4.11%, Australia 4.07%, and Germany 2.54%.