| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 38997.66 | 294.39 | 0.76% |
| S&P 500 | 5240.03 | 53.70 | 1.04% |
| Nasdaq | 16366.85 | 166.77 | 1.03% |
| VIX | 27.71 | -10.86 | -28.16% |
| Gold | 2429.90 | -1.70 | -0.07% |
| Oil | 72.73 | -0.47 | -0.64% |
US MARKET
Despite recent market volatility, stocks rallied on Tuesday, recovering from economic concerns and losses in popular investments.
The S&P 500 rose 1%, with gains across all sectors, and the Dow Jones increased by 294 points. The VIX, a measure of market volatility, dropped significantly.
Global markets also saw fluctuations, with Japan’s Nikkei 225 rebounding 10% after a steep drop. In the U.S., tech stocks showed mixed results amid scrutiny over their valuations, and economic data suggested a potential slowdown, affecting investor sentiment and expectations for Federal Reserve actions.
Market trading remains unpredictable, and financial indicators like bond yields and oil prices also saw increases.
LOCAL MARKET
Australian investors are cautiously optimistic as the share market rebounded from a 10-week low, suggesting the worst may have passed.
The S&P/ASX200 index rose by 31 points, or 0.41%, to 7,680.6, while the All Ordinaries increased by 32 points, also by 0.41%, to 7,891.4, following its sharpest two-day drop since the COVID-19 pandemic began.
Market analysts are mixed in their outlook. eToro’s Josh Gilbert noted markets are stabilising, while Capital.com’s Kyle Rodda cautioned that it’s unclear if the market calm is temporary.
The ASX saw mixed sector performance with energy stocks, including Woodside, experiencing significant losses, while most of the Big Four banks posted gains.
Notably, tech company Audinate’s shares plummeted after forecasting a profit decline, and Woodside’s acquisition of a green carbon project raised concerns about its financial impact. Meanwhile, the Australian dollar remained stable against the US dollar.