| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 39497.54 | 51.05 | 0.13% |
| S&P 500 | 5344.16 | 24.85 | 0.47% |
| Nasdaq | 16745.30 | 85.28 | 0.51% |
| VIX | 20.37 | -3.42 | -14.38% |
| Gold | 2469.80 | -3.60 | -0.15% |
| Oil | 76.74 | -0.10 | -0.14% |
US MARKET
The S&P 500 saw its best day in nearly two years, climbing 2.3% after a positive jobless claims report eased labor market concerns. U.S. stock futures and Treasury yields also rose, with the 10-year yield nearing 4%.
The positive trend was supported by declines in initial jobless claims to 233,000 for the week ending August 3. Market volatility decreased after a rocky week, with significant gains across the Nasdaq and Dow Jones.
Market analysts like Kevin Khang of Vanguard noted no major shifts in economic fundamentals despite recent market sensitivities. The S&P 500 nearly recouped its prior losses, with all sectors finishing higher.
In currency markets, the Japanese yen weakened against the dollar, reflecting adjustments in speculative trades. The Cboe Volatility Index fell, indicating reduced investor anxiety.
Corporate highlights included Eli Lilly, which rose 9.5% after raising its revenue outlook, while Warner Bros. Discovery dropped 9% due to significant write-downs.
LOCAL MARKET
The Australian share market rebounded from a steep early-week loss, with the S&P/ASX200 up 1.25% to 7,777.7 and the All Ordinaries rising 1.32% to 7,990.7 by Friday.
This recovery followed encouraging U.S. jobless claims that lessened recession fears. Notably, Life360 surged 18.3% after a strong earnings report, and News Corp climbed 7.6% to an all-time high, boosted by revenue growth and a promising new partnership with OpenAI.
Despite these gains, QBE Insurance fell 1.7%, showing mixed market sentiments. Overall, most sectors ended higher, indicating revived investor confidence.