Pre-Market Report – Thursday 16th October US markets push up slightly - SPI up 5 - Gold at records - WBC restructuring charge
Description
Continued good news from Wall Street bank earnings in overnight trade. The SP500 closed up +0.40% and the Nasdaq +0.66%. The VIX moderated down -0.82%. Morgan Stanley (+4.7%) and Bank of America (+4.4%) added to the positive earnings released from Goldman Sachs, Citigroup and JPMorgan Chase yesterday. The six Wall Street banks raked in almost US$41 billion in the past quarter, and up 19% from this time last year, according to the Wall Street Journal. The tech capex boom rolls on, with ASML reporting orders of 5.4 billion euros, up 100% on last year. Macqaurie Asset Management has sold data centre assets in a deal with US$40 billion, the biggest ever for this asset class. The buyers part of the transaction include BlackRock, Nvidia and Microsoft. Yields on 30 year bonds and the ten year note were little changed.
ASX set to open flat. SPI down 5 points.
Gold hit is 47th record close of the year at $4,201 per ounce. Silver hit $51 per ounce and is now up 76% in 2025. US Treasury Secretary said the US may considering extending tariff relief to China if they are willing to get rid of their rare earth controls.
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