| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 41503.10 | -103.08 | -0.25% |
| S&P 500 | 5618.26 | -16.32 | -0.29% |
| Nasdaq | 17573.30 | -54.76 | -0.31% |
| VIX | 18.23 | 0.62 | 3.52% |
| Gold | 2583.00 | -15.40 | -0.59% |
| Oil | 70.12 | -0.79 | -1.03% |
US MARKET
US futures are pointing lower after a mixed session on Wall Street. Stocks initially rallied but ended down following comments from Federal Reserve Chairman Jerome Powell, who emphasized that the recent 50 basis point rate cut shouldn’t be seen as the start of a broader easing cycle. The Dow, S&P, and Nasdaq all closed slightly lower after fluctuating between gains and losses throughout the day.
Gold briefly surged above $2,600 an ounce before pulling back, while oil declined more than 1% in late trading. The volatility index rose by a modest 3.5%, reflecting some uncertainty around the Fed’s future moves. The US dollar remained steady, with no major shifts against other currencies as the market prepares for more data.
As earnings season continues, investors are closely watching corporate results and forward guidance. Tech stocks showed weakness, and energy stocks were pressured by the drop in oil prices.
LOCAL MARKET
Australian futures are lower following declines in US markets.
The volatility index saw a moderate increase of 3.5%, indicating a rise in market uncertainty as investors reacted to the day’s fluctuations. The Australian dollar briefly hit US68¢ but remained steady as the local market approached open. ASX futures were down 38 points, or 0.5%, at 7am AEST.
Woolworths faces investor pressure to focus on its core business, while South32 trades ex-dividend today. The Future Fund voted against Woodside’s climate strategy, reflecting rising shareholder activism.