Pre-Market Pulse 15th May – Stocks scrape small gain as Tech carries the index
Stock squeezed out a small gain, led by tech, a day after turning positive for the year amid ongoing optimism surrounding the U.S.-China trade deal.
Stock squeezed out a small gain, led by tech, a day after turning positive for the year amid ongoing optimism surrounding the U.S.-China trade deal.
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The ASX 200 edged 0.1% lower to 8260 by 2pm, with losses in Macquarie Group and Aristocrat Leisure offsetting strength in energy stocks. The All Ordinaries also slipped 0.1%, as the local market showed muted movement despite a strong overnight rally on Wall Street, led by Nvidia’s 5.6% jump after US President Trump eased AI chip export restrictions.
Performance of the MPC Markets High Conviction Stock Picks for the last 6 months
Performance of the MPC Markets High Conviction Stock Picks for the last 6 months
Stock closed slightly higher overnight as data showing inflation slowed in April supported bullish sentiment on risk just days after the U.S.-China trade deal agreement.
The Australian sharemarket rallied on the back of a global rebound, as the US and China agreed to a 90-day truce in their trade dispute, easing tariff tensions and restoring investor confidence. The S&P/ASX 200 climbed 0.5% to 8270.4 by midday, led by gains in technology and energy sectors. The All Ordinaries also rose 0.5%.
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Stock market investors rejoiced overnight with the major indices soaring 3%+ after the White House announced an easing of escalated tariffs and agreeing to a 90 day “truce”, easing fears of prolonged trade war.
The Australian sharemarket edged higher on Monday, supported by gains in energy and mining stocks ahead of anticipated updates on US-China trade negotiations. The S&P/ASX 200 rose 0.2% to 8248.8 near 2pm, with energy leading sector gains as seven of eleven sectors traded in the green.