Pre-Market Report – Thursday 12th September: US markets rally after CPI and Nvidia
All three major US indexes closed higher overnight, with a rebound in tech stocks offsetting earlier losses following a disappointing inflation report, which crushed hopes for a 50bps cut from the Fed next week. Wide range from Dow overnight. Up 167 points at best. Down 744 points at worst. Finishing up 125 points (+0.31%). The S&P 500 gained 1.07%, it was the first time the index has bounced back from an intraday low of at least 1.5% since October 2022. The S&P 500 Tech Index rose 3.25%, supported by gains in Nvidia up 8.1%, following reports that the US government is considering letting them export chips to Saudi Arabia.
ASX SPI up 50
COMMODITIES
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