Pre-Market Report – Tuesday 29 July: US markets creep higher | Fed and results in focus

Wall Street recorded another modestly positive session as the S&P 500 and Nasdaq closed at fresh highs, boosted by US-EU trade deal, and excitement over some major corporate earnings this week including Meta, Microsoft, Amazon and Apple. S&P 500 up 0.02%, Nasdaq up 0.33%. Dow dropped at open, recovered partially, then fell steadily from noon until the final half hour of trading when it regained some strength. Finished mid-range, closed down 64 points. Narrow sector performance. Energy the best performer, followed oil up which rose following US-EU trade deal and Trump’s announcement he would shorten time given to Russia to end Ukraine war. Cyclicals and Tech also did well as risk appetite was reignited. Other sectors down. Yields up on US-EU trade deal, hurting rate sensitive sectors and boosting the outlook for global growth. REITS, Materials, Utilities all down.ASX to fall. SPI futures down 61 points (-0.7%). Resources to be pressured - Quarterlies abound.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.