US Market
| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39760.08 | 477.75 | 1.22% |
| S&P 500 | 5248.49 | 44.91 | 0.86% |
| Nasdaq | 16399.52 | 83.82 | 0.51% |
| VIX | 12.78 | -0.46 | -3.47% |
| Gold | 2213.00 | 0.30 | 0.01% |
| Oil | 81.69 | 0.34 | 0.42% |
US MARKET
After three consecutive days of losses, U.S. stocks surged as investors sought a smooth economic transition in anticipation of forthcoming rate cuts later this year.
The DJIA soared by 477 points, or 1.22%, reaching 39,760, while the S&P 500 climbed 0.86% to 5,248, and the Nasdaq rose 0.51% to 16,399.
The utilities and real estate sectors experienced gains of over 2%, with all S&P 500 sectors closing higher.
Merck achieved a 5% increase to a record high following the approval of its new drug for treating a potentially fatal lung disease in the U.S.
Thursday brings a deluge of data, including 4Q GDP, weekly jobless claims, and consumer sentiment, ahead of the market holiday on Friday.
LOCAL MARKET
The local stock market closed higher as a slightly better-than-expected domestic inflation report hinted at potential mid-year interest rate cuts.
The benchmark S&P/ASX200 index ended up 0.51% at 7,819.6, just shy of its highest-ever close. The All Ordinaries rose 0.46% to 8,073.6. Nine of 11 sectors finished higher, with tech dropping 0.5% and utilities down 0.2%.
Big Four banks mostly rose, with CBA up 1.2% to $120. Westpac fell 0.9% after announcing spending to unite brands. Elsewhere, Platinum Asset Management dropped 21.1%.
Mining sector saw modest moves, with BHP up 0.1%, Fortescue flat, and Rio Tinto down 0.4%.
APM Human Services halted trading after a buyout news.
Australian dollar stood at 65.27 US cents.
Additionally, the NZX 50 lost 0.18% to 12,010.66, while the Nikkei gained 0.89% to close at 40,762.73 at the time of writing.