Pre-Market Report – Friday 16 May: US markets positive | Gold rallies, oil falls

Market Updates

Content provided by Marcus Today. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Marcus Today or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

3d ago 12:15

MP3•Episode home

Wall Street recorded another mixed day in a choppy session as US data came in weaker than expected. US producer prices unexpectedly dropped and retail sales were mixed. S&P 500 up 0.41%, NASDAQ down 0.18%. Dow up. Dropped at open but steadily rose throughout day. Ended near high, up 272 points. Mostly positive sector performance. Growth sectors returned some recent gains. Tech slightly down, Cyclicals down. Amazon (-2.4%) and Tesla (-1.4%) dragged Cyclicals down. Tesla impacted by news Musk took leased cars back to sell after saying they were taken back to become robotaxis. All other sectors up. Rate-sensitive sectors best performing. Weak data caused yields to fall, boosted REITS and Utilities. Non-Cyclicals also did well despite Walmart (-0.5%) warning of price hikes following Trump’s tariffs. Healthcare also up following recent struggles as Trump demands costs consumers’ face are lowered. UAE to build biggest AI campus outside of US. Priced into Big Chips in the days prior. UnitedHealth dropped 10.9% as DoJ began criminal probe into potential Medicare fraud. Down 28.9% last 5 days, down 53.0% in last month. Meta down 2.3% as it delayed release of flagship AI model due to capability concerns. Resources down. Oil down after Trump claimed US close to Iran nuclear deal. OPEC+ hike also to increase supply faster than expected according to IEA. Base metals down. Fears of longer-term US-China trade. Iron ore still near 5 week high. Zinc, Aluminium, Nickel all down.

ASX to rise. SPI futures up 80 points (+0.96%). Gold up 2% Oil down.

Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.
If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.

Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.

1840 episodes

#Trading #Business #Marcus Today #Investing #Finance #ASX #Stock Market #Stock Broker #Stock #Stock Tips #Share #Stock Investing #Share Market