Pre-Market Report – Monday 6 October: ASX set to open higher despite Wall Street flat
Description
Wall Street had a mixed session on Friday night. Dow Jones up 239 points to a new record high. S&P 500 flat. Nasdaq 0.3%. All three indices losing morning gains to close near the low. The US government shutdown prevented the release of nonfarm payrolls data but a survey by the Institute for Supply Management showed a fourth consecutive month of contraction, keeping hopes of further rate cuts alive. Mixed sector performance. Healthcare led, strong week from the sector, as pharmaceutical companies follow Pfizer’s lead and negotiate tariff exemptions from the Trump administration. Utilities and Financials also in the green. Growth stocks suffered, with Tech and Cyclicals being the only two losers.
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