Pre-Market Report – Monday 17 November: US markets mixed, SPI down 17 | Nvidia the big event this week

Wall St staged a recovery from opening lows to finish near flat in another volatile session. S&P 500 flat on average volume. Nasdaq up 0.13%. Dow underperformed. Down 310 points and down 1100 in two sessions after hitting record highs earlier in the week. Short-term rotation from growth to value didn’t last long. The weak open coming from the same narrative as yesterday – odds of a Fed December rate cut falling due to inflation concerns (no official economic data released). 50% to 45% this time (again, yawn). The drop was attributed to Jeffrey Schmid, saying inflation was too hot and is being driven by broader factors other than tariffs. Schmid was the only Fed member to dissent in favour of no change in October (Miran was the only one to dissent in favour of a 50bp cut). Nasdaq was down 1.9% at worst before the precipitous moment was again avoided and the dip bought. Volatility remains high. Above 20 points.SPI down 17 - ELD results.Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.