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Pre-Market Report – Friday 8 August: US markets mixed | XYZ up, QBE results
Manage episode 498915079 series 2991632
Wall Street recorded a mixed session. Earnings by Eli Lilly disappointed and Trump said he’ll nominate Council of Economic Advisors Chairman Stephen Miran to serve out the remaining term of Federal Reserve Governor Adriana Kugler, while searching for a longer term replacement. S&P 500 down 0.08%, Nasdaq up 0.35%. Dow dropped at the open, and maintained that level throughout the day. Closed near low, down 224 points. Mixed sector performance. Utilities, Materials and REITs all rose despite bond yields ticking up, rotation into defensives. Healthcare worst performer again, Eli Lilly’s disappointing results didn’t help, Trump’s threats to hike tariffs on pharmaceuticals to 250% within 18 months also a continued headwind. Financials and Energy rounded out the bottom three performing sectors.
ASX to fall. SPI futures down 25 points (-0.28%).
Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.
If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.
Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.
1985 episodes
Manage episode 498915079 series 2991632
Wall Street recorded a mixed session. Earnings by Eli Lilly disappointed and Trump said he’ll nominate Council of Economic Advisors Chairman Stephen Miran to serve out the remaining term of Federal Reserve Governor Adriana Kugler, while searching for a longer term replacement. S&P 500 down 0.08%, Nasdaq up 0.35%. Dow dropped at the open, and maintained that level throughout the day. Closed near low, down 224 points. Mixed sector performance. Utilities, Materials and REITs all rose despite bond yields ticking up, rotation into defensives. Healthcare worst performer again, Eli Lilly’s disappointing results didn’t help, Trump’s threats to hike tariffs on pharmaceuticals to 250% within 18 months also a continued headwind. Financials and Energy rounded out the bottom three performing sectors.
ASX to fall. SPI futures down 25 points (-0.28%).
Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.
If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.
Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.
1985 episodes
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