| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39134.76 | 299.90 | 0.77% |
| S&P 500 | 5473.17 | -13.86 | -0.25% |
| Nasdaq | 17721.59 | -140.64 | -0.79% |
| VIX | 13.28 | 0.98 | 7.97% |
| Gold | 2372.00 | 3.00 | 0.13% |
| Oil | 82.34 | 0.77 | 0.94% |
US MARKET
Nvidia shares fell on Thursday, causing the S&P 500 and Nasdaq Composite to drop from record highs.
The S&P 500 ended 0.25% lower, and the Nasdaq Composite dipped 0.79%, breaking a seven-day streak of record closes. The Dow Jones rose 0.77%.
Stocks have climbed recently due to excitement around AI. Nvidia, which powers AI technology, surpassed Microsoft in market value, reaching over $3 trillion on Tuesday.
Nvidia’s 3.5% drop pressured the S&P 500 and Nasdaq, which are market value-weighted.
Economic data on Thursday showed a slowing economy, with declines in housing starts, building permits, and higher jobless claims at 238,000.
Investors are watching for signs of easing inflation, which could lead to Federal Reserve interest rate cuts, benefiting the stock market.
The 10-year U.S. Treasury note yield rose to 4.252%.
In individual stocks, Darden Restaurants rose 1.5%, Gilead Sciences gained 8.5%, Accenture climbed 7.3%, and Salesforce jumped 4.3%. Trump Media & Technology Group fell 15%, and Kroger declined 3.3%.
LOCAL MARKET
The Australian share market ended nearly unchanged. The S&P/ASX200 dropped 0.3 points to 7,769.4, while the All Ordinaries rose 1.6 points to 8,012.1. US markets were closed for Juneteenth, leaving the ASX without clear direction.
Guzman y Gomez shares debuted strongly, rising 36.4% to $30, giving the company a market cap over $3 billion.
Four sectors finished higher, four were lower, and three were flat. Health care dropped 1.0%, led by Cochlear’s 4.8% fall. Helia Group was the top gainer, rising 16.2% to $3.88.
Among banks, Commonwealth Bank increased 0.6% to $127.75. BHP was flat at $42.75, while Fortescue and Rio Tinto gained 0.2% and 0.4%, respectively. Uranium miners fell back, with Deep Yellow and Paladin Energy down 1.7%, and Boss Energy down 1.0%.
Botanix halted trading after announcing US approval for a new underarm sweating treatment.
The Australian dollar traded at 66.67 US cents, slightly down from 66.72 US cents, and reached a nearly 17-year high against the yen.