Pre-Market Report – Monday 3 June: SPI up 38, Dow up 575
Wall Street closed mixed following PCE results. The Dow Jones jumped 575 points (+1.51%), registering its biggest daily percentage gain since Nov-23. S&P 500 broke 5,200 before rallying above that level as every sector rallied, gaining 0.80%, and the NASDAQ slipped 0.01%. For the week, Dow fell 384 points (-0.98%), S&P 500 -0.51%, and NASDAQ -1.10% breaking five straight weeks of gains. For May, indices rose rebounding after a weak April Dow +2.3%, S&P 500 +4.8% and NASDAQ +6.88%. PCE price index rose 0.3% MonM in April, matching forecasts and core PCE rose 0.2%, the slowest rate in four months, below expectations. While both annual headline and core PCE inflation remained steady at 2.7% and 2.8% respectively. Treasury yields fell after data showed US inflation stabilised, 10Y yield slid 4.3bps. On the month the 10Y yield has fallen 17.6bps.
ASX SPI up 34 points.
COMMODITIES
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