| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 38386.09 | 146.43 | 0.38% |
| S&P 500 | 5116.17 | 16.21 | 0.32% |
| Nasdaq | 15983.08 | 55.18 | 0.35% |
| VIX | 14.67 | -0.34 | -2.40% |
| Gold | 2347.50 | 0.30 | 0.01% |
| Oil | 82.73 | -1.12 | -1.34% |
US MARKET
Major indexes surged, driven by gains in large-cap tech stocks despite persistent inflation concerns. The DJIA rose by 0.4% to 38239, the S&P 500 climbed 1% to 5099, and the Nasdaq jumped 2% to 15927.
Alphabet shares soared 10% following strong 1Q earnings from Google’s parent company and the announcement of its first cash dividend. Microsoft gained 1.8% as demand for its software and cloud services was boosted by artificial intelligence.
Energy and utilities were notable underperformers.
Despite reporting total first-quarter profits of $13.7 billion, Exxon Mobil faced a decline of 2.8% in its stock value, while Chevron managed only a modest 0.4% increase. Both companies attributed their less-than-stellar performance to lower refining margins and historically low natural gas prices.
Despite these sector-specific challenges, the broader market managed to post its first weekly advance in four weeks. The Nasdaq Composite also broke a four-week losing streak, indicating a potential shift in investor sentiment towards tech stocks.
LOCAL MARKET
Australian shares closed higher, with tech and real estate sectors leading the gains following a tech-driven rally in the US. The S&P/ASX200 rose by 0.81% to 7,637.4, while the broader All Ordinaries gained 0.88% to 7,906.6.
Tech stocks surged 1.7%, fueled by strong performances from companies like Wisetech Global (+1.9%) and Technology One (+3.7%) after blowout earnings from US giants like Alphabet and Microsoft.
Real estate also saw a 1.6% increase, with Charter Hall (+2.9%) and Stockland (+2.3%) rising after maintaining payout guidance. Energy sector standout Boss Energy climbed 9.1% on news of its Honeymoon uranium mine in SA exceeding forecasts.
Financials were buoyed, with CBA rising 0.8% and Perpetual (+3.1%) entering exclusive talks for a potential acquisition. Liontown Resources (+8.0%) saw gains in the materials sector, while Star Entertainment (+6.4%) in consumer discretionary rebounded from recent turmoil.
The Australian dollar reached a three-week high against the US dollar, trading at 65.62 US cents.
The S&P/ASX200 closed at 7,637.4, marking a gain of 0.81%. Similarly, the All Ordinaries index rose by 0.88% to reach 7,906.6. The NZX 50 experienced a 0.93% increase, reaching 11,916.24, while the Nikkei closed at 37,934.76, representing a rise of 0.81%.