| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 44148.56 | -99.27 | -0.22% |
| S&P 500 | 6084.19 | 49.28 | 0.82% |
| Nasdaq | 20034.89 | 347.65 | 1.77% |
| VIX | 13.58 | -0.60 | -4.23% |
| Gold | 2753.80 | 35.40 | 1.30% |
| Oil | 70.38 | 1.79 | 2.61% |
US MARKET
Big Tech stocks led the US market higher on Wednesday as investors responded to inflation data that met expectations and reinforced prospects for a Federal Reserve rate cut next week. The Nasdaq Composite rose 1.7%, powered by a strong rally in the “Magnificent Seven” tech giants.
Alphabet shares surged over 5% to a record high, while Tesla, Meta, and Amazon also hit new highs, with Tesla achieving its first record close in more than three years.
The S&P 500 gained 0.8%, while the Dow Jones Industrial Average edged down 0.2%.
Inflation data from the Bureau of Labor Statistics showed the Consumer Price Index rose 2.7% annually in November, up slightly from October’s 2.6%, aligning with forecasts. Core inflation, excluding food and energy, rose 0.3% month-over-month and held steady at an annual rate of 3.3% for the fourth consecutive month.
These figures maintain the Federal Reserve’s trajectory for a December rate cut, boosting sentiment across equities and crypto markets.
The Australian share market is set to open higher, with ASX futures up 41 points, or 0.5%, at 7:45 am AEDT, driven by optimism following US inflation data that reinforced expectations of a Federal Reserve rate cut next week. The Australian dollar continued its decline, hitting a one-year low at US63.70¢.
Gold surged above $US2700 ($4238) an ounce, oil regained $US73 a barrel, while iron ore slipped below $US105 a ton. Domestically, Fortescue Metals Group remains in the spotlight as scrutiny mounts over internal challenges and scaled-back hydrogen ambitions, following executive departures.