Pre-Market Report – Wednesday 18 March: US markets push slightly higher | Oil up, gold steady

A positive night on Wall Street even though Brent oil rose 3% as the Iranian conflict drags on indefinitely. Sentiment around travel and consumer spending got a boost after airline stocks Delta and American Airlines raised revenue guidance for the current quarter. The S&P500 rose 0.2% and the Nasdaq 0.4%. The Dow lifted 47 points. The VIX fell back 4.8% to 22.3.

Gold was steady, around US$5011. The fact that it’s not spiking suggest the market is not panicking around the Iranian situation. Bitcoin was steady too. Will they move together or keep to their historical zig and zag?

SPI Futures up 11 points. ASX set to open higher.

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