EQUITIES
| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 38686.32 | 574.84 | 1.51% |
| S&P 500 | 5277.51 | 42.03 | 0.80% |
| Nasdaq | 16735.02 | -2.06 | -0.01% |
| VIX | 12.92 | -1.55 | -10.71% |
| Gold | 2344.20 | -1.60 | -0.07% |
| Oil | 76.80 | -0.19 | -0.25% |
US MARKET
U.S. stocks closed May with additional gains as Salesforce recovered some of Thursday’s losses.
The Dow Jones Industrial Average increased by 574 points, or 1.5%, reaching 38,686. The S&P 500 rose by 0.8% to 5,277, while the Nasdaq edged 2 points lower to 16,735, staying well above the day’s worst levels.
For the month, the DJIA gained 2.3%, the S&P 500 surged 438%, and the Nasdaq jumped 6.9%.
The Federal Reserve’s preferred inflation gauge met expectations, doing little to change the outlook for rate cuts.
Information technology stocks ended the day nearly flat after a late rally, while all other sectors saw gains. The strongest sectors were energy, real estate, and utilities as investors shifted from riskier stocks.
The Australian stock market closed May on a high note, breaking a three-day losing streak with late gains.
The S&P/ASX200 index rose 73.5 points, or 0.96%, to 7,701.7, while the All Ordinaries gained 74.9 points, or 0.95%, to 7,970.8. Despite erasing earlier monthly gains, the ASX200 ended May up 0.49%, though it lost 0.34% for the week.
Investor sentiment was buoyed by late-session buying and gains in consumer staples and mining stocks, particularly gold miners.
Telix Pharmaceuticals and Avita Medical posted double-digit gains on positive news.
The major banks also closed higher, with CBA up 1.3% and NAB up 0.9%.
Globally, markets were influenced by uncertainty around U.S. rate cuts and higher bond yields, as well as mixed inflation data and commodity prices.
The Australian dollar traded at 66.40 US cents. Investors are now looking ahead to key U.S. inflation data and domestic economic reports due next week.