Pre-Market Report – Thursday 3 July: US markets push up | Tesla up 5%

Wall Street reached new highs as Tech stocks rallied and a trade agreement with Vietnam helped to calm nerves about a prolonged trade war. S&P 500 up 0.47%, Nasdaq up 0.94%. Dow fell at open, recovered and rose further, peaking at midday, and finished the session in the middle of its range. Down 11 points. Most sectors up. Energy led the charge, following oil up which rose 3% as Iran suspended cooperation with the UN nuclear watchdog. Materials also up, rising as the Vietnam trade deal eased global trade concerns – economically sensitive sector. Tech and Cyclicals also did well. Chip stocks bounced, Nvidia rising 2.6%, while Apple continued its good week, up 2.2% without major news. Tesla also rallied 5%, a partial recovery from yesterday’s losses, despite the headlines surrounding the EV maker continuing to be negative with focus on how this year will be the second year of shrinking sales. Healthcare, Utilities and Cyclicals were all in the red. Uptick in yields hurt the latter two.

SPI down 17 - Iron ore up 2.5% on Chinese moves - Resources to shine

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