| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 38868.04 | 69.05 | 0.18% |
| S&P 500 | 5360.79 | 13.80 | 0.26% |
| Nasdaq | 17192.53 | 59.40 | 0.35% |
| VIX | 12.74 | 0.52 | 4.26% |
| Gold | 2328.30 | 1.10 | 0.05% |
| Oil | 78.10 | 0.34 | 0.44% |
US MARKET
Market activity was subdued on Monday as investors awaited updates on U.S. consumer prices and the upcoming Federal Reserve meeting.
The S&P 500 edged up 0.3% to a record close, while the Nasdaq Composite gained 0.4%. The Dow Jones Industrial Average rose 69 points, or 0.2%.
Nvidia’s 10-for-1 stock split saw its shares rise just 0.8%, indicating investor indecision.
Southwest Airlines surged over 7% following reports that activist investor Elliott has taken a significant stake, pushing for leadership changes and a business review. Conversely, Huntington Bancshares fell more than 6% after lowering its net interest income guidance for the year, dragging the KBW Regional Banking index down 1.9%.
An update on the consumer price index and the Federal Reserve’s interest rate meeting are both set for Wednesday.
Australian shares are set to open lower on Tuesday, mirroring losses in Europe following stronger-than-expected performances by far-right parties in weekend elections. ASX futures indicate a 0.4% drop, or 33 points, following last week’s 2% gain driven by hopes of lower borrowing costs from major central banks.
In EU elections, far-right parties are projected to control 131 seats. France’s President Emmanuel Macron has called a snap parliamentary election after Le Pen’s Rassemblement National secured 31.5% of the vote.
In the U.S., the S&P 500 and Nasdaq hit record highs, but investors remain cautious ahead of Wednesday’s consumer prices report and Thursday’s Federal Reserve interest rate announcement, with the Fed expected to keep rates on hold but possibly adjust its quarterly projections.
AGL Energy plans a $300 million investment over four years, partnering with OVO’s Kaluza smart energy platform and acquiring a 20% stake in Kaluza. New Zealand electricity retailer Mercury has appointed Stew Hamilton as CEO, effective August 31.
Oil prices rose about 3% on Monday, with Brent futures settling at $81.63 a barrel, while iron ore prices fell 3% in Asia.
Australian bond yields increased, reflecting movements in US Treasuries after a strong job report diminished hopes for Fed rate cuts. Three-year yields rose to 4%, and the 10-year benchmark to 4.34%.