| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 38239.98 | 253.58 | 0.67% |
| S&P 500 | 5010.6 | 43.37 | 0.87% |
| Nasdaq | 15451.31 | 169.3 | 1.11% |
| VIX | 16.94 | -1.77 | -9.46% |
| Gold | 2341.1 | -4.5 | -0.20% |
| Oil | 83.02 | -0.12 | -0.14% |
US MARKET
US stock indexes mostly declined due to concerns over prolonged high interest rates and an Israeli strike on Iran. The Nasdaq fell 5.5%, the S&P 500 dropped 3%, and the DJIA remained flat, despite a 0.6% gain today. Both the S&P 500 and Nasdaq saw losses throughout the week.
Netflix exceeded earnings expectations and surpassed subscriber growth estimates for the first quarter. However, its second-quarter revenue guidance of approximately $9.49 billion fell short of analysts’ forecasts of $9.53 billion. Netflix also announced its intention to cease providing quarterly membership data and average revenue per member, which are crucial metrics for investors, causing its stock to plummet by 9.1%.
American Express saw a 6.2% increase in its stock value after reporting higher first-quarter profit and revenue, driven by increased spending by affluent Amex cardmembers.
Trump Media & Technology Group experienced a 9.6% rise in its stock price after CEO Devin Nunes raised concerns about potential “naked” short selling targeting Trump Media stock, which contributed to recent gains and offset losses for the week.
Tesla’s stock declined by 1.9% after the National Highway Traffic Safety Administration announced a recall of 3,878 Cybertruck vehicles to address an accelerator pedal issue. Jabil, the electronics-manufacturing services company, disclosed an investigation related to its CEO, Kenny Wilson, prompting an 8.4% decline in its stock.
SLB, the world’s largest oil-services company, reported first-quarter earnings in line with analysts’ estimates but saw a 2.1% decline in its stock price. Procter & Gamble beat earnings estimates for the fiscal third quarter but missed revenue expectations, resulting in a modest 0.5% increase in its stock value.
KB Home rose by 1% after announcing authorization for stock repurchases of up to $1 billion and an increase in its quarterly dividend to 25 cents per share from 20 cents.
LOCAL MARKET
Australian shares bounced back from their worst week in seven months as tensions in the Middle East eased and investors hunted for bargains. The S&P/ASX200 climbed 1.08% to close at a six-day high of 7,649.2, while the All Ordinaries rose by the same percentage to 7,902.0.
Last week, the ASX200 had dropped 2.84% to a two-month low amid fears of conflict in the Middle East, but concerns lessened over the weekend after limited hostilities between Iran and Israel. Energy stocks slipped 1.5% as Brent crude fell to a four-week low of $86 per barrel due to reduced geopolitical tensions.
Health care was the top-performing sector, with CSL leading gains, while materials also rose, supported by BHP, Fortescue, and Rio Tinto. Gold miners declined as the price of gold fell. Banks mostly saw gains, except for ANZ, while in the energy sector, Woodside and Santos fell, but Boss Energy rose after uranium production.
Base Resources surged after agreeing to be acquired by Energy Fuels. Star Entertainment dropped amid a casino license hearing, while Lovisa rose following a broker upgrade. The Australian dollar was at 64.33 US cents.