| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 43006.59 | 485.6 | 1.14% |
| S&P 500 | 5842.63 | 64.48 | 1.12% |
| Nasdaq | 18552.73 | 267.57 | 1.46% |
| VIX | 21.93 | -1.58 | -6.72% |
| Gold | 2929.1 | 8.5 | 0.29% |
| Oil | 66.39 | -1.87 | -2.74% |
US MARKET
A late-session runup in US stocks capped another volatile day for global markets, a session that also featured extreme moves in European bonds and equities. Geopolitical news dominated sentiment once again, including a delay in the imposition of auto tariffs in Canada and Mexico by the White House. The S&P 500 rose 1.1%. The Nasdaq 100 added 1.4%. The Dow Jones Industrial Average gained 1.1%. The yield on 10-year Treasuries rose four basis points to 4.28%. The dollar dropped against most major currencies.
The White House confirmed that General Motors (+7.2%), Ford (+5.7%), and Stellantis (+9.2%) would receive a one-month delay on tariffs related to the United States-Mexico-Canada Agreement, easing concerns over potential economic fallout. Investors viewed the move as a sign that the administration could negotiate further tariff exemptions, driving a broad market rebound. However, economic data presented mixed signals—an upbeat report on the services sector provided support, while weaker-than-expected private payroll growth raised concerns about slowing economic momentum.
Among the day’s top gainers, Microsoft, Oracle, and Amazon advancing over 2%, though energy stocks lagged as oil prices dipped.
LOCAL MARKET
The S&P/ASX 200 Index fell by 0.7% to close at 8,141 on Wednesday, marking its lowest level in over two months as the trade war between the US and its major trading partners deepened. President Trump’s 25% tariffs on Canadian and Mexican goods, along with an additional 10% duty on Chinese imports, took effect on Tuesday, triggering retaliatory measures from those countries. Given Australia’s dependence on exports, any disruption to global trade is expected to have significant consequences for the local economy.
Despite the trade concerns, data revealed that Australia’s economy grew by 0.6% in the fourth quarter, accelerating from a 0.3% expansion in the previous quarter and surpassing market expectations of 0.5%.
Among the notable decliners were Treasury Wine Estates (-5.6%), Westpac Banking (-1%), NAB (-1.4%), QBE Insurance (-1.5%), and Coles Group (-4.4%). ASX futures were pointing 19 points, or 0.2%, higher, predicting the sharemarket would reverse the prior session’s losses.