| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 41,841.63 | 353.44 | 0.85% |
| S&P 500 | 5,675.12 | 36.18 | 0.64% |
| Nasdaq | 17,808.66 | 54.58 | 0.31% |
| VIX | 20.51 | -1.26 | -5.79% |
| Gold | 3,009.30 | 3.2 | 0.11% |
| Oil | 67.34 | -0.24 | -0.34% |
US MARKET
Stocks on Wall Street started the week on an upbeat note, extending rebound from a recent correction as the S&P 500 gained 0.6%, the Dow Jones added 353 points, and the Nasdaq 100 advanced 0.5%.
Softer-than-expected retail sales data, which showed a modest 0.2% rise in February, fuelled speculation that the Fed could lean toward rate cuts later this year. We note the January was the coldest month for, like, 30 years!!! Go figure. Despite the broader market rally, major tech stocks lagged, with Tesla tumbling 4.8% and Nvidia slipping 1.7% as investors reevaluated their lofty valuations amid ongoing economic uncertainty.
Treasury Secretary Bessent sought to reassure markets, characterizing corrections as “healthy” while acknowledging that recession risks remain. Market participants are now turning their attention to the Fed’s upcoming policy meeting, looking for signals on how Trump’s evolving trade policies may shape future economic decisions.
Meanwhile, Berkshire Hathaway climbed over 1.5% to a record high, underscoring its reputation as a reliable investment.
LOCAL MARKET
The S&P/ASX 200 Index climbed 0.83% to close at 7,854 on Monday, extending gains from the previous session after China unveiled a special action plan over the weekend to revive consumption, lifting market sentiment across the region. The plan includes measures to increase wages, boost household spending, and stabilize stock and real estate markets.
Australian shares also tracked a relief rally on Wall Street from Friday, as investors continued to assess evolving trade policies and broader economic uncertainties in the US. Mining stocks led the gains, with BHP Group rising 2.4%, Fortescue surging 4.2%, and Mineral Resources jumping 11.6%. Meanwhile, Spartan Resources soared 9.1% after its board approved a buyout offer from Ramelius Resources, valuing the gold miner at A$2.4 billion.
ASX 200 futures were 53 points, or 0.7%, higher at 7909, edging the index closer to the 8000 mark.