| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 44705.53 | -76.47 | -0.17% |
| S&P 500 | 6049.88 | 2.73 | 0.05% |
| Nasdaq | 19480.91 | 76.96 | 0.40% |
| VIX | 13.30 | -0.04 | -0.30% |
| Gold | 2666.10 | 7.60 | 0.29% |
| Oil | 69.97 | 1.87 | 2.75% |
US MARKET
US stocks closed mixed on Tuesday as investors weighed labor market data and comments from Federal Reserve officials on interest rates. The S&P 500 and Nasdaq Composite posted modest gains of 0.1% and 0.4%, respectively, both hitting new highs, while the Dow Jones Industrial Average slipped 0.2%.
The Bureau of Labor Statistics reported a 372,000 increase in October job openings to 7.74 million, surpassing expectations of 7.52 million. The Job Openings and Labor Turnover Survey (JOLTS) also showed a drop in hiring and a rise in the quits rate to 2.1% from 1.9%, signaling stronger worker confidence. These figures precede Friday’s critical US payroll report.
Federal Reserve officials, including Mary Daly and Austan Goolsbee, signaled that rates might continue to decline as policy approaches a neutral stance. Market odds for a quarter-point rate cut at the December 18 Fed meeting rose to 72% from 62% the previous day, per the CME FedWatch Tool. Fed Chair Jerome Powell is set to speak Wednesday.
In corporate news, US Steel shares plunged 8% after President-elect Donald Trump vowed to block its $15 billion sale to Japan’s Nippon Steel, asserting that tariffs and tax incentives would allow the company to thrive independently.
LOCAL MARKET
Australian shares are set to open lower as global markets face renewed caution. In South Korea, political turmoil briefly shook investor confidence when the president declared martial law, triggering a market sell-off. The situation stabilised after parliament moved to rescind the decree, but concerns linger over geopolitical risks in the region.
Locally, ASX-listed coffee-related stocks and appliance makers could benefit from a 15% surge in benchmark coffee prices over the past month, with global prices reaching 47-year highs, according to the International Coffee Organization. Analysts warn that higher cafe prices may drive consumers to brew at home, potentially benefiting Australian companies catering to this trend.
Investors will closely monitor domestic factors and regional developments as trading kicks off.