US Markets
| Name | Week Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39282.33 | -31.31 | -0.08% |
| S&P 500 | 5203.58 | -14.61 | -0.28% |
| Nasdaq | 16315.70 | -68.77 | -0.42% |
| VIX | 13.24 | 0.05 | 0.38% |
| Gold | 2177.60 | 0.40 | 0.02% |
| Oil | 81.25 | -0.37 | -0.45% |
US MARKET
On Tuesday, Wall Street experienced a slight retreat from its recent record highs. The S&P 500 marked its third consecutive modest decline, slipping by 0.28%. Similarly, the Dow Jones Industrial Average edged down by 0.08%, while the Nasdaq composite fell by 0.42%.
Initially, stock indexes showed gains, with Tesla and other Big Tech stocks contributing to the positive sentiment. However, a late-day downturn in Nvidia’s shares weighed on the overall market, leading to the decline.
In a notable development, Trump Media & Technology Group experienced a surge of 16% on its first day of trading, operating under a ticker symbol utilising former President Donald Trump’s initials. Meanwhile, Treasury yields softened following mixed economic reports.
Specifically, on Tuesday, the S&P 500 declined by 14.61 points to 5,203.58, the Dow Jones Industrial Average slipped by 31.31 points to 39,282.33, the Nasdaq composite saw a decrease of 68.77 points to 16,315.70, and the Russell 2000 index of smaller companies fell by 4 points to 2,070.16.
LOCAL MARKET
The local share market closed slightly lower today, taking a break after nearing a new all-time high on Monday. The S&P/ASX200 index fell by 31.7 points, or 0.41%, to 7,780.2, while the broader All Ordinaries dropped by 34.8 points, or 0.43%, to 8,036.7.
Capital.com market analyst Kyle Rodda noted that the markets experienced minimal movement due to a lack of significant data ahead of a long weekend and the quarter-end. Traders are cautious about adding to riskier assets before a US inflation report, which will be released when Australian markets are closed for Easter.
Nine of the ASX’s sectors ended lower, with tech being the biggest loser, down by 1.6%. WiseTech Global and Xero were notable decliners. All Big Four banks closed lower, with Westpac down by 0.8%, NAB and ANZ both dipping 0.3%, and CBA closing 0.2% lower.
In the heavyweight mining sector, BHP, Fortescue, and Rio Tinto saw declines. However, the energy sector rose by 0.5%, with Woodside advancing by 1.0%.
Premier Investments in the consumer discretionary sector climbed 4.4% after announcing a dividend hike and plans to spin off its Smiggle brand. In health care, Mesoblast soared by 45.5% after progress with US regulatory approval for its treatment.
In other sectors, Catapult Group’s shares surged with no clear explanation, while 29 Metals plummeted due to the suspension of operations at its Capricorn copper mine in Queensland.
The Australian dollar was trading at 65.37 US cents, slightly higher than Monday’s close. Meanwhile, the NZX 50 lost 35.22 points or -0.29% to 12,031.81, and the Nikkei dropped 16.09 points or -0.04% at the time of writing, closing at 40,398.03