| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 44910.65 | 188.59 | 0.42% |
| S&P 500 | 6032.38 | 33.64 | 0.56% |
| Nasdaq | 19218.17 | 157.69 | 0.83% |
| VIX | 13.51 | -0.59 | -4.18% |
| Gold | 2673.90 | -7.10 | -0.26% |
| Oil | 68.15 | 0.15 | 0.22% |
US MARKET
The Nasdaq and S&P 500 set new record highs on Monday, kicking off December with strong momentum after a remarkable 2024. The S&P 500 rose 0.2%, continuing its streak of records, while the Dow Jones Industrial Average dipped 0.3% after nearing its all-time high. The Nasdaq Composite surged nearly 1%, with Apple reaching a new peak and driving the rally.
Tech stocks led the session, with Tesla and Meta gaining over 3%. The positive sentiment that fueled November’s gains, driven in part by optimism surrounding President-elect Donald Trump’s policy agenda, continues to support the market. Year-to-date, the S&P 500 is up more than 25%, the Nasdaq nearly 30%, and the Dow close to 20%.
In corporate developments, Stellantis shares fell sharply following the unexpected resignation of CEO Carlos Tavares. Intel also struggled, declining after news that CEO Pat Gelsinger is stepping down, adding to the company’s ongoing challenges.
Globally, the dollar strengthened as markets responded to President-elect Trump’s renewed tariff threats. His warning to BRICS nations regarding potential currency competition added an element of geopolitical uncertainty, further shaping market sentiment as the year draws to a close.
LOCAL MARKET
Australian shares are poised to build on their record-breaking rally, bolstered by a positive lead from Wall Street’s tech-driven momentum. The local market is expected to sustain its upward trajectory, reflecting strong investor sentiment and a favorable global backdrop.
On the domestic front, investor focus will shift to key economic releases, including Q3 balance of payments, net exports, and government spending data. Corporate activity will also draw attention, with Collins Foods set to unveil its earnings results, while the Bank of Queensland convenes for its annual general meeting. Additionally, Incitec Pivot shares will trade ex-dividend, impacting investor strategies in the short term.
Meanwhile, supermarket giants Woolworths and Coles are facing intensified scrutiny from the ACCC over allegations of misleading pricing practices. Both retailers have defended their strategies, pointing to examples like the contentious $5 Oreo to illustrate the legitimacy of their discounts. This debate underscores ongoing tensions between consumer advocacy groups and large retailers over transparency and fair pricing.