Pre-Market Report – Wednesday 24 September: US markets slip | Gold up again

Wall Street recorded a negative session, ending three days of record high closes, following a Powell speech where he left the door open to further rate cuts while emphasising the Fed had to balance inflation concerns with a weakening labour market. S&P 500 down 0.55%, Nasdaq fell 0.95%. Dow jumped in the first fifteen minutes of trading but fell from there. Closed near low, down 89 points. Mixed sector performance. Cyclicals and Tech led the sell off, with Amazon falling 3.0% and Nvidia down 2.8%, the biggest two drops of the major names. Materials also down and every other sector was flat or up. Energy was the biggest gainer, followed oil up on Kurdish supply constraint issues. Rate sensitive sectors also did well with REITs and Utilities making gains.ASX to fall. SPI futures down 30 points (-0.34%).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.