Pre-Market Report – Tuesday 10 June: ASX to play catch-up

Wall Street recorded modest gains session on cautious hopes of US-China trade deal. S&P 500 up 0.09%, NASDAQ up 0.31%. Dow dropped at open, recovered into positive territory but dropped to its starting level before the close. Down 1 point, middle of the range. Mixed sector performance. Cyclicals best performer, Amazon (+1.6%) and Tesla (+4.6%) boosting sector. Materials also up while Energy followed oil higher. Tech made some gains with Alphabet up 1.5% as it announced it will invest $20Bn into data centre infrastructure in Pennsylvania. Apple slid 1.2% after its annual software developer conference had a lacklustre start. Utilities and Financials worst performing sectors despite yields falling slightly. Warners Brothers Discovery dipped 3% after announcing it would split its streaming and cable TV segments into separate companies. Qualcomm rose 4.1% after announcing it would acquire Alphawave for $2.4Bn as it strengthens its AI portfolio.Want to invest with Marcus Today? The Managed Strategy 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.