Pre-Market Report – Monday 21 October: Wall Street finishes higher, led by tech stocks

Wall Street finished last week higher, led by tech stocks following Netflix’s strong earnings report. The Dow rose 37 points (+0.09%) closing at a fresh record high, its fifth in the last six sessions. The S&P 500 chalked up a record close too, gaining 0.40%. However, gains were restrained by losses in the energy sector, bogged down by lower oil prices. Financial stocks also weighed with the S&P 500 Banks Index falling 0.1%, ending its five-day winning streak. The NASDAQ rose 0.63%, with Apple rising 1.2% on a sharp rise in new iPhone sales in China, and Nvidia gained 0.8% after BofA Global Research hiked its price target on the stock. Small caps Russell 2000 slid 0.21%, and the VIX eased 5.65%. For the week, Dow +0.96%, S&P 500 +0.85%, and NASDAQ +0.79% all comfortably secured a sixth straight weekly gain, their longest weekly winning streak since 2023.ASX SPI up 44COMMODITIESBHP's Olympic Dam copper mine halted on power outages, severe electrical storms.Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook.Speculators cut US crude oil net longs-CFTC.Global uncertainties drive gold above unprecedented $2,700/oz milestone.Copper rises as China rolls out support for stock market.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence. Ready to invest in yourself? Join the Marcus Today community.