| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39765.64 | 408.63 | 1.04% |
| S&P 500 | 5434.43 | 90.04 | 1.68% |
| Nasdaq | 17187.61 | 407.00 | 2.43% |
| VIX | 18.12 | -2.59 | -12.51% |
| Gold | 2504.40 | -3.40 | -0.14% |
| Oil | 78.72 | 0.38 | 0.49% |
US MARKET
Stocks rose on Tuesday after the July Producer Price Index (PPI) indicated lower-than-expected wholesale inflation, recording a 0.1% increase versus the anticipated 0.2%.
This has raised hopes for a favourable Consumer Price Index (CPI) report due Wednesday. The modest inflation supports the possibility of the Federal Reserve easing monetary policy sooner.
Following the report, major US stock indexes increased, with the S&P 500 up 1.68%, the Dow Jones rising by 1.04%, and the Nasdaq growing by 2.43%.
In other news, Home Depot reduced its annual earnings forecast amid slowing consumer demand, while upcoming retail sales data could provide more insights into consumer health. Meanwhile, oil prices declined slightly and Bitcoin fell by 1%.
LOCAL MARKET
The Australian stock market extended its gains for a third consecutive day, despite mixed performances across sectors.
The S&P/ASX200 index closed up by 13.1 points or 0.17% at 7,826.8, with the All Ordinaries also up by 13.7 points or 0.17% to 8,042.2.
Big banks and retailers contributed positively, offsetting losses from companies like CSL and Seek. Gold miners thrived as gold prices hit a record high of $US2,472 amid escalating Middle East tensions. In contrast, lithium stocks declined.
Economic data showed subdued wage growth and rising consumer and business sentiment, suggesting easing inflationary pressures.
In the healthcare sector, CSL’s shares dropped after reporting higher operational costs, while Temple & Webster surged on strong annual revenue growth.
The banking sector saw gains across all major banks, and the Australian dollar slightly appreciated against the US dollar.