Pre-Market Report – Thursday 6 November: US markets recover, SPI up 66 | AGM season continues

The Dow Jones Industrial Average gained 225.76 points, or 0.48%, to close at 47,311.00. The S&P 500 rose 0.37% to finish at 6,796.29, while the Nasdaq Composite advanced 0.65% to settle at 23,499.80. Investors were paying attention to the Supreme Court hearing Wednesday regarding President Donald Trump’s tariffs. 

Some encouraging data on the economy Wednesday with better-than-expected ADP payrolls data and a stronger-than-expected ISM services economy reading. However, the strong data did give a boost to yields, something that some investors may not like to see with expectations growing for a third Federal Reserve rate cut in December.

COMMODITIES

• Beijing lifts some tariffs on US farm goods but soybeans stay costly
• Unprecedented volume of oil stored on ships due to Western sanctions, Gunvor CEO says
• Gold gains on risk aversion despite strong US payrolls data
• Dalian iron ore extends falls on China demand concerns
• Copper rises after four days of falls, but China demand worries cap gains

SPI up 66 - NAB results and AGM season continues.

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