| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39357.01 | -140.53 | -0.36% |
| S&P 500 | 5344.39 | 0.23 | 0.00% |
| Nasdaq | 16780.61 | 35.31 | 0.21% |
| VIX | 20.71 | 0.34 | 1.67% |
| Gold | 2513.50 | 9.50 | 0.38% |
| Oil | 79.68 | -0.38 | -0.47% |
US MARKET
US stocks fell on Monday as investors awaited economic data, with particular attention on this week’s inflation reports.
The market is braced for potential rate cuts next month, with discussions focusing on whether these will be 25 or 50 basis points. Bank of America highlighted that unexpected high inflation could significantly impact the market.
At the start of trading, the S&P 500 was down 0.3%, the Dow Jones fell 0.6%, and the Nasdaq dropped 0.1%. Other market activities saw oil prices rise, Nvidia’s price target increased by Mizuho, and gold prices climb to $2,485 per ounce, while Bitcoin dipped to $59,698.
LOCAL MARKET
The Australian share market began the second week of earnings season positively, recovering from last week’s significant drop.
The S&P/ASX200 index closed up 36 points (0.46%) at 7,813.7, and the All Ordinaries rose 37.8 points (0.47%) to 8,028.5. Trading contrasted sharply with last week when the ASX200 fell 3.7%, its largest one-day decline since the pandemic’s onset.
This week, investors are focused on the upcoming July inflation data. Most sectors ended higher, led by consumer discretionary and tech sectors, each up 1.9%.
In contrast, energy and materials sectors fell by about 0.5%. Notable movements included JB Hi-Fi, which jumped 8.3% to $72.98 after announcing a special dividend following a profitable year.