Pre-Market Report – Wednesday 17 September: US markets flat, waiting for Fed | SPI down 29

Wall Street recorded another quiet session. Down slightly as nerves kicked in ahead of the Fed rate decision tomorrow – widely expected to cut by 25bps. S&P 500 down 0.13%, Nasdaq fell 0.07%. Dow dropped at open, found a little strength from noon onwards. Closed mid-range, down 126 points. Mixed sector performance. Utilities worse performer, down 1.8%, followed by Materials and REITS. Energy was the best performer, following oil upwards as Ukraine hit more Russian supplies. Cyclicals the only other notable performer, a further Tesla gain of 2.8% boosting the sector, after Musk disclosed he bought 1Bn more in company stock earlier in the week.

ASX to fall. SPI futures down 29 points (-0.33%).

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