Pre-Market Report – Wednesday 8 May: Conference Updates Continue | QIP Gets a Bid
US stocks closed edged higher overnight, just finishing above the flatline in a fairly uneventful day of trade. The Dow rose 32 points (+0.08%), rising for its fifth consecutive session its longest winning streak since December 2023. Dow up 125 points at best, and down 12 points at worst. S&P 500 briefly hit 5,200, finishing 0.13% higher, marking a four-day winning streak, while the NASDAQ slipped 0.10% in late afternoon trade. Treasury yields eased a touch, while the $58bn 3Y note auction garnered solid demand, ahead of this weeks $42bn 10Y note auction tomorrow. In Fed speak, Fed’s Kashkari said he questions the restrictiveness of current policy given inflation data and was the latest central banker to talk about a higher neutral rate, raising his projection by 50bps to 2.50%.
ASX to rise. SPI Futures up 14 points (+0.18%).
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