| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 43077.70 | 337.28 | 0.79% |
| S&P 500 | 5842.47 | 27.21 | 0.47% |
| Nasdaq | 18367.08 | 51.49 | 0.28% |
| VIX | 19.58 | -1.06 | -5.14% |
| Gold | 2689.90 | -1.60 | -0.06% |
| Oil | 70.66 | 0.29 | 0.40% |
US MARKET
U.S. stocks fluctuated Wednesday as investors recovered from a chip sector sell-off and awaited more corporate earnings reports. The S&P 500 and Dow Jones edged up, whilst the Nasdaq dipped slightly due to weakness in chip stocks. ASML shares fell another 5% after cutting its 2025 sales outlook, though other chipmakers like AMD and Nvidia saw modest gains.
Morgan Stanley beat earnings expectations, driven by a 56% surge in investment banking revenue, pushing its stock up over 6%. The S&P 500 is projected to report over 7% year-over-year earnings growth for the third quarter. Meanwhile, Apple’s domestic chip production marks a major shift for the U.S. semiconductor industry.
LOCAL MARKET
Australian shares are set to follow Wall Street’s gains this morning, continuing the local market’s record rally ahead of key jobs data. ASX futures are up 0.7%, tracking Wall Street where the Dow Jones rose 0.8%, the S&P 500 gained 0.5%, and the Nasdaq edged 0.3% higher. Despite tech stocks pulling back, Nvidia rebounded, while gold and oil prices ticked higher.
ASX futures indicate a continuation of the rally that saw the index hit a record high on Tuesday before a slight pullback yesterday.
Later today, the Australian Bureau of Statistics will release key jobs data, with expectations that the unemployment rate will hold steady at 4.2% for September.
In focus, the NSW Independent Casino Commission is set to decide whether Star Entertainment can keep its Sydney license, and BHP is releasing its quarterly operations review. Additionally, AGMs are scheduled for ARB, Perpetual and Treasury Wine Estates, with AMP and Santos posting sales and production updates.