| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39387.76 | 331.37 | 0.85% |
| S&P 500 | 5214.08 | 26.41 | 0.51% |
| Nasdaq | 16346.26 | 43.51 | 0.27% |
| VIX | 12.69 | -0.31 | -2.38% |
| Gold | 2352.30 | 30.00 | 1.29% |
| Oil | 79.62 | 0.36 | 0.45% |
US MARKET
US stocks rose on Thursday, boosted by signs of a cooling US labor market which fueled expectations of a potential interest rate cut by fall.
The Dow Jones Industrial Average increased by about 0.9% or nearly 350 points, marking its seventh consecutive day of gains. The S&P 500 rose 0.5%, surpassing the 5,200 mark for the first time since April 9, while the Nasdaq Composite edged up 0.2%.
Sectors such as Real Estate and Utilities led gains, while Technology and Communications Services, dominant over the past year, lagged behind.
Jobless claims rose to 231,000, the highest since August, indicating further slowdown in the job market. This supports predictions of a Federal Reserve rate cut in September.
In corporate news, a disappointing revenue forecast from Arm dampened optimism for AI-driven growth in chip stocks, causing a 2% drop in its shares. Nvidia and AMD also saw slight declines.
Roblox shares fell more than 20% as player spending within its platform decreased.
LOCAL MARKET
The Australian share market declined after six consecutive days of gains, with the S&P/ASX200 index dropping 1.06% to 7,721.6 and the All Ordinaries down 1.02% to 7,994.2.
Retailers and major banks led the losses, with Commonwealth Bank falling 2.2% after reporting a 5% profit decrease.
Baby Bunting plummeted 23.4% following a 7.4% drop in same-store sales.
Regionally, the NZX 50 in New Zealand fell 0.31% to 11,746.58, while Japan’s Nikkei 225 dropped 0.34% to 38,073.98.
Eight of the ASX’s 11 sectors lost ground, and the Australian dollar slightly depreciated to 65.72 US cents.