The S&P 500 jumped 1.18% to close at 5,354.03. The index also touched a new intraday all-time high of 5,354.16. The Nasdaq Composite jumped 1.96% to 17,187.90 and also hit a new record, while the Dow Jones Industrial Average added 0.25% to close at 38,807.33. Nvidia powered those gains surging more than 5% to top a $3 trillion market valuation and surpass Apple in value.
ASX to rise. SPI Futures up 42 points (+0.54%).
- Base metals lower. Aluminium -1.17%, Zinc -1.90%, Lead 0.73%, and Tin -1.24%.
- Copper fell -0.77% sliding to near a one-month low, pausing its strongest rally in years as demand expectations for the metal are yet to translate into higher consumption.
- Nickel down 4.43%, falling to a seven-week low.
- Gold gains 1.21% as bond yields fall after weaker-than-expected US private payrolls data.
- Iron ore fell 0.51% for a fifth consecutive session, hitting a seven-week low pressured by weak steel demand.
- 10Y Bond Yields – US 4.277%, Australia 4.210%, and Germany 2.506%.
- Currencies – AUD +0.02%, USD Index +0.18%, Euro +0.01%, and Bitcoin +0.97%.
- Oil prices rebounded from four-month lows on hopes that rate cuts in September would outweigh demand concerns after data showed an increase in US crude and fuel stocks. WTI 1.09% and Brent Crude 1.91%.
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