EQUITIES
| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39308.00 | -23.85 | -0.06% |
| S&P 500 | 5537.02 | 28.01 | 0.51% |
| Nasdaq | 18188.30 | 159.54 | 0.88% |
| VIX | 12.09 | 0.06 | 0.50% |
| Gold | 2364.40 | -5.00 | -0.21% |
| Oil | 84.04 | 0.16 | 0.19% |
US MARKET
The US stock markets were closed in observance on the Independence Day holiday.
LOCAL MARKET
Australian stocks rallied on hopes of a US Federal Reserve rate cut in September, propelling the Australian dollar to a six-month high against the US dollar.
The S&P/ASX200 and All Ordinaries indices rose by 1.19% and 1.17% respectively.
Weak US jobs data from ADP raised expectations for a rate cut, with the likelihood now at 73%.
On the ASX, most sectors advanced, notably mining with significant gains by major companies such as Fortescue, Rio Tinto, and BHP. Goldminers also rose as gold prices increased.
Conversely, West Africa Resources fell sharply after announcing a major capital raise. In the energy sector, Santos saw a significant rise amid rumors of potential acquisition interest from Middle Eastern oil giants.
Among financials, major Australian banks ended higher, and Magellan Financial Group jumped 6.1% despite a slight dip in funds under management. Meanwhile, the Australian dollar strengthened, reaching over 67 US cents.