Pre-Market Report – Wednesday 23 April: US markets rally hard | Trump not going to sack Powell

Wall Street bounced back to end a four-day losing streak as markets responded positively to quarterly earnings reports and hopes of a de-escalation in US-China trade tensions. S&P 500 up 2.51%, NASDAQ up 2.71%. Dow steadily rose throughout day and ended near high. Up 1017 points. All sectors green. Financials led the charge. All major names up 2.9% or more. Followed by Consumer Cyclicals. Amazon (+3.5%) and Tesla (+4.6%) largest names in sector. Tesla was up ahead of earnings release – better than expected, up over 5.5% in after hours trading. 3M Co up 8.3% after beating analyst consensus. Verizon recovered from an initial drop to finish up 0.61% as markets weighed mixed earnings results. Resources mixed. Oil up 1.3% on new US sanctions on Iran. Copper climbed further to hit new two-week high. Iron ore down as India imposed temporary 12% tariff on certain steel imports from China. ASX to rise. SPI futures up 100 points (+1.28%). Dow futures kick again on Trump"s comments on Powell. 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.