| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 41,368.45 | 254.48 | 0.62% |
| S&P 500 | 5,663.94 | 32.66 | 0.58% |
| Nasdaq | 17,928.14 | 189.98 | 1.07% |
| VIX | 22.48 | -1.07 | -4.54% |
| Gold | 3,322.00 | 16 | 0.48% |
| Oil | 60.19 | 0.28 | 0.47% |
US MARKET
Buy on Dips, Sell on Rips. Because that is the Moniker Currently. It’s a Trader’s Market. Happy VE Day. Or Happy Friendshoring. So, the UK sets an agreement. And Tech Led the Market Down, and they’re Leading it up. And the Most Sensible City in the US – Chicago – just got a Pope. Right now, the US has no immigration. Think about that. And think about the Fed given its dual mandate.
A risk-on wave enveloped Wall Street on Thursday, with stocks up and bonds down as The Mister announced, as noted or inferred, a trade deal with the UK while noting that if China talks go well, tariffs could be lowered. Equities gained after The Mister said investors should buy shares now. For a market hoping for an easing of tensions between the US and its top commercial partners, that was enough to drive a rally of about 1.3% for the S&P 500. Almost every major corner of the stock market advanced, with gains led by economically-sensitive sectors.. As the safety bid ebbed, gold and haven currencies fell. Short-term Treasury yields surged as traders pared bets on rate cuts.
By circa close, the S&P 500 rose 1.3%. The Nasdaq 100 gained 1.8%. The Dow Jones Industrial Average added 1.3%. The Russell 2000 climbed 2.3%. The yield on 10-year Treasuries advanced 10 basis points to 4.36%. A soft $25 billion sale of 30-year bonds also weighed on the market. The Bloomberg Dollar Spot Index rose 0.6%.
Trump announced a trade framework with the UK, hailing it as a “breakthrough” that will bring down barriers and expand access for American imports. The president also said he believed negotiations launching this weekend with China would result in tangible progress, predicting Beijing would be willing to make concessions and saying he could consider cutting punishing tariffs.
As we get the details of this trade deal today, and find out how much progress the US and China are making towards the most important trade deal this weekend, it should give investors some more clarity about how much of an impact the trade issue will have on the US and global economy going forward.
Overview of the Australian Market
The S&P/ASX 200 Index rose 0.2% to close at 8,192 on Thursday, extending gains from the previous session as US President Donald Trump hinted at a major trade deal with a “big” country. Subsequently known as the UK.
Meanwhile, Trump said he would not lower tariffs on China as a condition to begin trade negotiations ahead of US-China talks in Switzerland this weekend. Elsewhere, the US Federal Reserve held interest rates steady, with Fed Chair Jerome Powell signalling a cautious approach and ruling out a preemptive rate cut in response to the potential economic impacts of tariffs.
Leading gains on the ASX were NAB (1.4%), Northern Star Resources (2.4%), Evolution Mining (2%), and Zip Co (0.8%). In corporate news, Pro Medicus jumped 3.4% after the medical imaging platforms maker secured a A$20 million , five-year contract with the University of Iowa Health Care.
