| Name | Price | Change | % Chg |
|---|---|---|---|
| Dow | 44,458.30 | 217.54 | 0.49% |
| S&P 500 | 6,263.26 | 37.74 | 0.61% |
| Nasdaq | 20,611.34 | 192.87 | 0.94% |
| VIX | 16.00 | 0.06 | 0.38% |
| Gold | 3,336.00 | 10.30 | 0.31% |
| Oil | 66.80 | 0.23 | 0.35% |
OVERVIEW OF THE US MARKET
Optimistic sentiment drove stocks higher as consumer discretionary and financials gained, supported by the “One Big Beautiful Bill” (OBBBA) and the tariff deadline extension to August 1. Treasury yields dipped slightly, and the dollar held steady. Oil prices edged up amid stable global conditions.
The S&P 500 rose 0.27% to 6,280.46, and the Nasdaq Composite added 0.09% to 20,630.66, maintaining momentum near record levels. West Texas Intermediate crude climbed to $67.75 a barrel, buoyed by energy sector strength. In after-hours trading, BIT Mining Ltd. surged, reflecting speculative activity.
Consumer discretionary stocks rose 0.98%, led by strong retail data, while financials gained 0.64%, supported by the OBBBA’s tax incentives. Tech slipped 0.12%, with NVIDIA up modestly. The OBBBA’s $3.3 trillion stimulus, including tax cut extensions, fueled the rally, though the August 1 tariff deadline keeps markets cautious.
Middle East tensions remain muted, with the Israel-Iran ceasefire holding, stabilizing oil markets. Market expectations price two rate cuts by year-end, with September favored, as fiscal stimulus and trade developments guide sentiment. Tomorrow’s retail sales data could influence direction.
OVERVIEW OF THE AUSTRALIAN MARKET
The ASX 200 rallied 0.59% to 8,589.2, nearing its all-time high, recovering nearly all of yesterday’s losses amid bullish Wall Street leads and China optimism. The session saw broad gains, with materials and industrials leading the charge.
Materials surged 1.24%, driven by BHP, RIO, and FMG up 1-2% on stronger iron ore prices and Chinese construction data. Gold miners like Evolution (+3.6%) and Newmont (+3.2%) rose as gold hit $3,330 per ounce. Property stocks rebounded, with Charter Hall up 1.5%, while banks extended gains, led by NAB (+1.2%). The OBBBA’s global boost provided additional support.
The RBA’s recent hold at 3.85% continues to shape rate-sensitive sectors, with investors eyeing future cuts. The ASX 200’s proximity to its peak suggests resilience, with tomorrow’s commodity trends in focus.