Pre-Market Report – Friday 3 May: An Apple a Day Keeps the Bears at Bay

Market Updates

Stocks finished higher Thursday. The Dow Jones Industrial Average added 322.37 points, or 0.85%, to close at 38,225.66. The S&P 500 gained 0.91% to settle at 5,064.20, while the Nasdaq Composite surged 1.51% to end at 15,840.96.
Apple announces largest-ever $110bn share buyback as iPhone sales drop 10%.
ASX to rise. SPI Futures up 35 points (+0.46%). MQG Results out. US Jobs tonight.

• Base metals mixed. Nickel -0.64%, Zinc +0.59%, Lead +0.09% and Tin +1.38%.
• Copper extended losses, down 1.56% on concerns that the recent 2Y high was based on speculation while physical demand remains weak in China.
• Aluminium down 1.69% on data that showed rebounding inventories.
• Gold eased 0.63%.
• Oil prices under pressure from weaker global demand and rising inventories. WTI -0.14%, and Brent Crude +0.07%.
• Currencies – AUD -0.02%, USD Index -0.34%, Euro +0.02%, and Bitcoin +2.81%.
• 10Y Bond Yields – US 4.589%, Australia 4.430%, and Germany 2.537%.

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