Pre-Market Report – Monday 19 August: SPI down 14 | WBC results

Wall Street closed out the week higher in an uneventful day of trade. The S&P 500 and NASDAQ rose for their seventh consecutive session advancing 0.20% and 0.21% as most megacaps gained, with Nivida leading the charge, up 1.4%. The Dow Jones finished 97 points higher (0.24%). Up 163 at best. Down 109 points at worst. Small firms Russell 2000 rose 0.30%, and the VIX fell another 2.82%. All three major indexes finished the week higher, clocking their biggest weekly gain since October last year. Dow +2.94%, while the S&P 500 and NASDAQ advanced 3.93% and 5.29%, posting their first weekly gain in five weeks.

ASX SPI Down 14 - WBC Trading Update 

• WTI down 2.02% and Brent Crude off 1.62%.
• Copper dropped 0.29% as BHP said it had reached a deal with the labour union to resolve a strike at its Escondia copper miner in Chile, easing supply concerns.
• Base metals ended mixed despite a weaker USD. Nickel +0.30%, aluminium +0.51%, zinc -0.59%, lead -0.10%, and tin +0.10%.
• Iron ore futures fell for a fifth consecutive session, down 1.39%, with bearish sentiment prevailing.
• Uranium flat and lithium fell 0.21%.
• Gold prices hit an all-time high overnight as the USD weakened on growing expectations for a September rate cut. Bullion rose 2.08%.

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