| Name | Price | Changes | % Change |
|---|---|---|---|
| Dow | 44828.53 | 344.11 | 0.77% |
| S&P 500 | 6279.35 | 51.93 | 0.83% |
| Nasdaq | 20601.1 | 207.97 | 1.02% |
| VIX | 16.38 | -0.26 | -1.56% |
| Gold | 3336.8 | -6.1 | -0.18% |
| Oil | 67.03 | 0.03 | 0.04% |
OVERVIEW OF THE US MARKET
Optimistic investors pushed US stocks higher on Thursday, spurred by hopes of a July rate cut and easing trade tensions following Trump’s tariff deadline extension talks. Treasury yields edged up, while oil prices remained stable amid a fragile Middle East ceasefire.
The S&P 500 rose 0.83% to 6,279.35, and the Nasdaq Composite climbed 1.02% to 20,601.10, both nearing fresh highs after a strong rebound from earlier volatility. The gains highlight a tech-driven rally, with active trading reflecting renewed confidence. Lixte Biotechnology Holdings Inc. (LIXT) soared 40.10% to $2.83 on 64.1 million shares, driven by clinical trial optimism, while Bit Digital Inc. (BTBT) gained 11.79% to $2.94 on 77.3 million shares amid crypto market strength. NVIDIA Corp. (NVDA) added 1.33% to $159.34 on 143.7 million shares, reinforcing its tech leadership.
Traders kept a close watch on Middle East developments, with the Israel-Iran ceasefire holding steady after Trump’s mediation efforts. Oil prices held firm at around $68 per barrel, suggesting stability as long as energy infrastructure remains untargeted. Lucid Group Inc. (LCID) rose 5.37% to $2.16 on 211.4 million shares, buoyed by EV sector optimism, while BigBear.ai Holdings Inc. (BBAI) gained 2.51% to $7.75 on 201.4 million shares, reflecting AI defense sector interest.
Federal Reserve Chair Jerome Powell’s recent testimony, emphasizing a cautious approach to rate cuts due to tariff risks, contrasts with Vice Chair Michelle Bowman’s openness to a July move.
OVERVIEW OF THE AUSTRALIAN MARKET
The S&P/ASX 200 finished flat at 8,597 on Thursday, hovering near record levels after plunging to a -0.63% low around noon before a dramatic recovery. The turnaround was driven entirely by a resources rally, highlighting shifting market dynamics as investors rotated out of banks.
Materials stocks surged 3.0%, leading the charge with BHP up 5.2%, South32 up 2.7%, Pilbara Minerals soaring 11.3%, and MinRes climbing 7.5%. The S&P/ASX 200 Materials Index has now risen 7.1% over the past eight sessions, closing above its 200-day moving average, signaling strong momentum. This resurgence reflects a rebound in commodity prices and renewed investor appetite for resources. Meanwhile, Commonwealth Bank slumped 2.1% to end at session lows, contributing to a 6.1% drop over the last six sessions, as the sector bore the brunt of the rotation.
The index’s choppy performance at record highs suggests a pause as markets digest recent gains, with eyes on Friday’s US jobs report, Trump’s reciprocal tariff deadline, and the looming August reporting season.