| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 40358.09 | -57.35 | -0.14% |
| S&P 500 | 5555.74 | -8.67 | -0.16% |
| Nasdaq | 17997.35 | -10.22 | -0.06% |
| VIX | 14.72 | -0.19 | -1.27% |
| Gold | 2409.60 | 2.30 | 0.10% |
| Oil | 77.41 | 0.45 | 0.58% |
US MARKET
Stocks were mixed early Tuesday as investors awaited key earnings from Tesla and Alphabet, with economic data releases also on the horizon for later in the week.
U.S. markets were quiet, anticipating reports after the market closes. Tesla, following a challenging start to the year, faces high expectations.
Expected GDP growth is projected at 1.5% annualised, reflecting economic headwinds, and the PCE index is anticipated to show a slowdown in inflation.
The S&P 500 fell 0.16%, the Dow Jones Industrial Average down by 0.014%, and the Nasdaq composite also fell by 0.06%.
Additional reports indicated a rise in evictions in some areas and a potential spending boom in traditional market sectors. In commodities, WTI crude oil fell to $77.66, while Bitcoin dropped to $66,497.
LOCAL MARKET
The Australian share market rebounded from a three-day loss, lifted by tech stocks amidst U.S. political developments where Democrats are uniting behind Vice President Kamala Harris as a strong candidate for the upcoming election.
The S&P/ASX200 index rose 0.5% to 7,971.1 points, with similar gains in the All Ordinaries.
Despite prediction markets favoring Donald Trump with a 60% chance of winning, domestic sentiment in Australia improved, reaching a six-month high due to recent tax cuts and cost-of-living adjustments.
The ASX saw tech stocks leading gains, though energy and materials sectors fell. Notable movements included Woodside dropping to a four-week low after underperforming in quarterly results, while major banks and certain other stocks like Spartan and Polynova saw significant rises.
The Australian dollar continued its decline, influenced by an unexpected rate cut in China, settling at 66.26 US cents.