| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 40211.72 | 210.82 | 0.53% |
| S&P 500 | 5631.22 | 15.87 | 0.28% |
| Nasdaq | 18472.57 | 74.12 | 0.40% |
| VIX | 13.12 | 0.66 | 5.30% |
| Gold | 2425.90 | -3.00 | -0.12% |
| Oil | 81.86 | -0.05 | -0.06% |
US MARKET
Stock markets and bond yields increased with renewed interest in the “Trump trade” after an attempt on Donald Trump’s life. Investors weighed the potential of a Trump presidency, corporate earnings, and comments from Federal Reserve Chair Jerome Powell.
The Dow Jones rose 0.53% to a new high, while the S&P 500 and Nasdaq also gained.
Increased bets on Trump’s election win influenced markets, anticipating policies like tariffs and tax cuts that might boost inflation.
The 10-year Treasury yield rose, Trump Media & Technology’s shares surged 31%, and Bitcoin exceeded $63,000. Analysts suggest a Republican sweep could further elevate stocks and bond yields.
Firearms stocks jumped following a rally shooting, and Tesla shares rose after Elon Musk endorsed Trump. With earnings season underway, companies like Goldman Sachs and BlackRock reported significant results, setting the stage for more corporate updates and economic data in the week ahead.
LOCAL MARKET
The ASX200 hit a record high, closing above 8,000 for the first time, up 0.73% at 8,017.6, despite an assassination attempt on Donald Trump. The All Ordinaries also rose, up 0.69% to 8,262.4.
Financial markets largely overlooked the incident, with minimal effects apart from a stronger US dollar and a rise in cryptocurrency prices.
China’s economic growth slowed to 4.7% in the second quarter, below expectations. All ASX200 sectors gained, with significant increases from companies like Wesfarmers and Wisetech Global.
The major banks and mining stocks like Fortescue and BHP also saw gains, while Lifestyle Communities and Aussie Broadband faced declines after negative news.
The ASX200’s year-to-date gain stands at 5.6%, underperforming against global indices like the MSCI World Index. The Australian dollar edged up against the US, and Bitcoin spiked, reflecting interest in Trump’s pro-cryptocurrency stance.