| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 43487.83 | 334.70 | 0.78% |
| S&P 500 | 5996.66 | 59.32 | 1.00% |
| Nasdaq | 19630.20 | 291.91 | 1.51% |
| VIX | 15.97 | -0.63 | -3.80% |
| Gold | 2731.50 | -17.20 | -0.63% |
| Oil | 76.89 | -0.99 | -1.27% |
US MARKET
US stocks rallied on Friday, driven by a tech sector rebound as investors assessed key economic data, earnings reports, and potential policy changes under Donald Trump’s administration. The Dow Jones Industrial Average rose 0.8%, the S&P 500 gained 1%, and the Nasdaq Composite advanced 1.5%, buoyed by Nvidia and Tesla returning to positive territory.
Markets turned optimistic following a week marked by major bank earnings and inflation data that reignited expectations for potential interest-rate cuts. The 10-year Treasury yield eased to around 4.6%, adding to the positive sentiment. For the week, the Dow climbed 3.7%, the S&P added 2.9%, and the Nasdaq ended 2.4% higher.
Economic data bolstered confidence in the US economy, with housing starts exceeding forecasts in December and industrial production beating expectations. This reinforced hopes for sustained growth and potential rate adjustments. The tech sector led the day’s gains, with Apple recovering 0.7% after its worst loss since August. Chipmakers like Micron and Nvidia posted strong performances, and Coinbase rallied alongside bitcoin’s continued climb above $100,000.
Investors also kept a close watch on potential policy shifts as Donald Trump prepares to begin his second term. Concerns remain over his proposed tariffs, tax policies, and debt plans, which could stoke inflationary pressures. Inauguration Day on Monday will coincide with a market closure for Martin Luther King Jr. Day.
Australian shares are poised for a modest gain on Tuesday as investors digest the market implications of Donald Trump’s first day in office. S&P/ASX 200 futures rose 0.3%, suggesting a 22-point lift at the open. With Wall Street closed for Martin Luther King Jr. Day, US markets saw minimal movement, with S&P 500 futures finishing 21.75 points higher.
Locally, trading is expected to remain subdued as investors evaluate the potential impacts of Trump’s early policy direction. His administration has outlined plans to overhaul immigration, trade, tax, and energy policies, though a delay in tariff announcements has pressured the US dollar, which dropped over 1% against major currencies. The Australian dollar benefited from the weakness, rising 1.4% overnight to US62.73¢.
In corporate updates, BHP reported a 10% increase in copper production for the first half, driven by record output at its Escondida mine. Liontown Resources tripled its December quarter production, while Yancoal reaffirmed its 2024 guidance. Capstone Copper achieved record copper output in 2024 but missed its production targets.
Optus is reportedly exploring the sale of its sports streaming platform to Nine Entertainment, a move that could transfer English Premier League rights to Stan ahead of DAZN’s entry into the market. Star Entertainment’s Hong Kong investors are in Queensland to discuss the future of its new Brisbane precinct as CEO Steve McCann works to stabilise the struggling casino operator.