EQUITIES
| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 38,892.80 | -11.24 | -0.03% |
| S&P 500 | 5,202.39 | -1.95 | -0.04% |
| Nasdaq | 16,253.96 | 5.44 | 0.03% |
| VIX | 15.19 | -0.84 | -5.24% |
| Gold | $2,356.60 | $5.60 | 0.24% |
| Oil | $86.59 | $0.16 | 0.19% |
US MARKET
US stocks ended Monday’s session flat as investors braced for a significant week featuring fresh inflation data and the kickoff of the first quarter earnings season.
The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all closed nearly unchanged.
Despite a strong jobs report last Friday, concerns about the Federal Reserve’s stance on interest rates lingered, resulting in weekly losses for stocks.
The yield on the 10-year Treasury stood at 4.42%, close to the critical 4.5% level seen by some as a potential trigger for a return to last year’s highs.
Additional worries, including mixed messages from Fed speakers, the upcoming US presidential election, and rising oil prices due to escalating Middle East tensions, contributed to market unease.
Investor attention is now focused on Wednesday’s release of the Consumer Price Index, which will provide insights into inflation trends and the resilience of the US economy.
Simultaneously, anticipation builds for the start of the earnings season, with Delta Air Lines leading the way on Wednesday and big banks reporting on Friday. Expectations are high for robust earnings growth among S&P 500 companies, buoyed by strong March labor data.
In this environment, gold reached a new record above $2,350 per ounce, while oil prices approached recent multi-month highs as tensions in the Middle East eased. Brent crude settled at $90.48 a barrel, and West Texas Intermediate closed at $86.43.
LOCAL MARKET
The local stock market ended slightly higher despite a strong US jobs report, which tempered expectations for mid-year interest rate cuts in the US.
The S&P/ASX200 index rose 0.2% to 7,789.1, while the All Ordinaries gained 0.24% to 8,044.9.
Investors reacted positively to the US Labour Department’s report of a 300,000 increase in non-farm payrolls in March, higher than expected. This buoyed Wall Street, with the S&P500 rising 1.1% and the Dow Jones climbing 0.8%.
Gold hit an all-time high of $2,350 an ounce, boosting gold miners like Newmont, Genesis Minerals, and Northern Star.
However, the energy sector faced losses of 1.2% as crude prices retreated from recent highs due to easing tensions in the Middle East.
Beach Energy dropped 15.0% after announcing delays and cost increases at its Waitsia gas plant in Western Australia.
All of the Big Four banks saw modest gains, while the tech sector surged 1.2%, led by Life360.
On the downside, Elders plunged 24.4% after reporting below-expectation first-half trading results.
The Australian dollar was trading at 65.80 US cents.
Meanwhile, the NZX 50 lost 0.32%, and the Nikkei gained 0.90%.