| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 44,711.43 | 342.87 | 0.77% |
| S&P 500 | 6,115.07 | 63.1 | 1.04% |
| Nasdaq | 19,945.64 | 295.69 | 1.50% |
| VIX | 15.1 | -0.79 | -4.97% |
| Gold | 2,957.20 | 28.5 | 0.97% |
| Oil | 71.51 | 0.14 | 0.20% |
US MARKET
US stocks rallied on Thursday as tariff updates helped ease inflation and trade worries, despite stronger-than-expected inflation data. The S&P 500 climbed 1%, the Nasdaq 100 gained 1.4%, and the Dow rose 343 points (0.7%). President Trump signed a memorandum to review reciprocal tariffs but refrained from immediate action, while hinting at potential auto tariffs. January’s PPI increased 0.4%, surpassing forecasts, though key PCE components suggested inflationary pressures may be cooling.
Tech stocks led the gains, with Tesla jumping 5.7%, Nvidia up 3.2%, and Apple rising 2% after CEO Tim Cook teased a new product. Meanwhile, defense stocks weakened as Trump proposed halving defense spending, sending Lockheed Martin and Northrop Grumman down 1.7% and 3.5%, respectively, General Dynamics lower by 2%, and Huntington Ingalls slipping 1.6%.
On the close, the S&P 500 was up 1.1%. The Nasdaq 100 up 1.3%. The Dow Jones Industrial Average up 0.8%. The Russell 2000 up 1.0%.
AUSTRALIAN EQUITY MARKET WRAP
The S&P/ASX 200 Index finished up just 4.7 points, or 0.1%, at 8540, resetting its record for a second session. While eight of the 11 sectors were lower, strong gains in materials kept the bourse in the green. The All Ordinaries also rose 0.1%
The ASX also set a new intraday high in the morning session, buoyed by the debut of Chemist Warehouse. Sigma Healthcare increased up to 9% as it traded for the first time as a merged business with the pharmacy chain, before moderating gains. The stock closed up 5.4% at $2.91.
Index heavyweight Commonwealth Bank extended its gains as investors continued to pile into Australia’s biggest bank after it reported earnings on Wednesday. The shares rose 0.5% to $166.72, a record.