Pre-Market Report – Tuesday 20 August: US extends rally | DRR, ANN, MND

The Dow Jones Industrial Average added 236.77 points, or 0.58%, to finish at 40,896.53. The S&P 500 rose 0.97% to close at 5,608.25, while the Nasdaq Composite jumped 1.39% and ended at 17,876.77. The S&P 500 and Nasdaq notched their eighth straight winning day, a first for both indexes in 2024.
Last week saw the biggest gains for the three indices for the year!

The percentage of S&P500 companies that reached above their 10-day and 50-day moving averages ramped up to about 90% and 69%, respectively.

ASX SPI up 36 points.

COMMODITIES

• Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy.
• Gold subdued after record run as traders await cues from Fed.
• Dalian iron ore reverses losses on stronger steel prices, stimulus hopes.
• Scores in central Serbia rally against Rio Tinto's lithium project.
• China demand hopes, lower dollar lift copper prices.

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