Pre-Market Report – Tuesday 12 November: US markets continue to rally | Bitcoin hits US$87k

Market Updates

The Dow gained 304 points, or 0.69%, to 44,293.69. The Dow’s rise brought the index above 44,000 for the first time. The S&P 500 added 0.1% to end the day at 6,001.35 and also earned a record close by surpassing 6,000 for the first time. However, the Nasdaq Composite hovered near the flatline, up 0.06% to 19,298.76.
Tesla soared more than 9%, also adding to its postelection gain. But it was an exception among large technology stocks, with Apple slipping nearly 2%. Peers Microsoft and Amazon were roughly 1% lower each. Small caps advanced, with the Russell 2000 climbing 1.47%.
ASX to inch up. SPI Futures up 4 points (+0.05%). NAB Ex Dividend - Resources under pressure - CBA 1Q tomorrow.
COMMODITIES

• Gold drops over 2% as dollar strengthens; investors await Fed policy cues.
• Oil falls on Chinese stimulus disappointment, supply outlook.
• Copper hits seven-week low on stronger dollar, weak Chinese credit data.
• Chile's Codelco offers copper to Chinese clients at a premium of $89/t.

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