| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 43239.05 | 161.35 | 0.37% |
| S&P 500 | 5841.47 | -1.00 | -0.02% |
| Nasdaq | 18373.61 | 6.53 | 0.04% |
| VIX | 19.11 | -0.47 | -2.40% |
| Gold | 2707.60 | 0.00 | 0.00% |
| Oil | 70.73 | 0.06 | 0.13% |
US MARKET
US stocks rose Thursday as investors welcomed strong retail sales data and solid corporate earnings. The Dow Jones Industrial Average extended its record gains, climbing 0.37%, while the S&P 500 and Nasdaq remained largely unchanged.
Retail sales climbed 0.4% in September, beating expectations and reinforcing robust consumer spending. Year-over-year, sales were up 1.7%. Strong spending data, coupled with a strong September jobs report, suggests the US economy remains solid, tempering expectations for rapid Federal Reserve rate cuts. Weekly jobless claims fell to 241,000, lower than expected.
Chipmaker TSMC reported strong earnings, lifting chip stocks like Nvidia and AMD. Shares of TSMC surged 7% as it exceeded revenue and income estimates, boosting market confidence after ASML’s earlier concerns.
More earnings are due, with Netflix set to report after the close.
LOCAL MARKET
Australian shares are set to open lower, with futures at 8am AEDT indicating the S&P/ASX 200 will drop 27 points or 0.3%, after reaching a record high yesterday. Wall Street ended mixed, with investors digesting corporate earnings and strong US economic data. The Dow Jones rose 0.4%, while the S&P 500 and Nasdaq remained flat.
The European Central Bank cut rates by 25 basis points to 3.25%, the third reduction in its current cycle.
There is no major local data today. Internationally, Japan releases CPI figures, and China’s Q3 GDP is expected to show growth slowing to 4.5%, the weakest in six quarters.