Pre-Market Report – Tuesday 18 November: US markets slide again ahead of Nvidia | SPI down 52
Description
Not much fun at all for investors in the US overnight. The VIX spiked up 11.6% as the SP500 fell 0.9% to 6672. The Nasdaq was off 0.8% to 22708. The Russell 2000 was worse, down nearly 2%. There was no hiding in Big Tech, with Nvidia off 1.9% as its results on Wednesday loom ever closer over the market. Apple, Meta and Amazon were all down. The only winner was Alphabet, up 3% as news came out that Berkshire Hathaway has been accumulating the stock. Only the Utilities sector across the SP500 was green. Again we saw bitcoin lower, down toward $91,000 as risk sentiment in crypto really comes off the boil.
SPI futures are down 52 points. The ASX set to open lower. JHX ALS Results. RBA Minutes.
Most commodities were down overnight too. Oil was mildly down as supply concerns still weigh on the trading outlook. Gold slipped 1% as it continues to consolidate the recent surge.
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