Pre-Market Report – Tuesday 12 May: US markets slightly better | Budget in focus

US stocks rose on Monday, rebounding from a subdued start to the session, as the S&P 500 added 0.2% and the Nasdaq gained 0.1% to reach fresh record highs, supported by a strong rally in chipmakers amid continued optimism over AI-driven demand. The Dow Jones also advanced 95 points. Among the standout performers, Nvidia climbed 2%, Tesla surged 3.9%, Qualcomm jumped 8.4%, and AMD added 0.8%. Micron Technology soared 6.5%, as labour unrest at Samsung Electronics and ongoing supply constraints fuelled expectations of tighter memory-chip markets. Energy, materials and industrial stocks also posted solid gains. The market’s advance came despite another increase in oil prices after US President Donald Trump rejected Iran’s response to his proposal, warning that the ceasefire was on “life support”. Investors were also turning their attention to an expected summit later this week between President Trump and Chinese President Xi Jinping.SPI up 13 - Gold firms - Oil jumps - Budget in focus.—Marcus Today – Daily Market InsightsMarcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.If you'd like to go further:Start a free 14-day trial of Marcus Today http://bit.ly/mt-trial-podcastJoin Marcus Today Use code MTPODCAST for 10% off http://bit.ly/mt-join-podcast-offerMT20 – Managed ETF Portfolio A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing. http://bit.ly/mt20-podcastPrinciples – How We Think About Investing A short video series on timing, behaviour, and decision-making. No stock tips. http://bit.ly/mt-principles-podcast—Disclaimer This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.