| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 41914.75 | -293.47 | -0.70% |
| S&P 500 | 5722.26 | -10.67 | -0.19% |
| Nasdaq | 18082.21 | 7.68 | 0.04% |
| VIX | 15.41 | 0.02 | 0.13% |
| Gold | 2681.50 | -3.20 | -0.12% |
| Oil | 69.64 | -0.11 | -0.17% |
US MARKET
US stocks took a breather on Wednesday as traders looked ahead to upcoming economic data and speeches from Federal Reserve officials.
Investors are anticipating Thursday’s jobless claims report, which is expected to offer new insights into the strength of the labour market. Additionally, remarks from Fed Chair Jerome Powell at the US Treasury Market Conference are being closely watched for signals on future monetary policy. Market expectations for another rate cut in November have risen, with a 58% chance of a 50 basis point cut now priced in, up from 37% a week ago.
In other news, Nvidia shares saw a boost following reports that CEO Jensen Huang has finished selling his shares after a $713 million windfall. Analysts remain optimistic about further potential for the stock market to rally, with some projecting an additional 10% upside by year-end.
LOCAL MARKET
Australian shares are expected to rise today, buoyed by stronger commodity prices, particularly in iron ore and gold, despite mixed results on Wall Street. While major US stocks like Amgen, Chevron, and Boeing saw declines, Australian miners are likely to benefit from the uptick in resource prices, providing positive momentum for the local market.
Key domestic factors will play a significant role in shaping the trading day. Job vacancies and wealth data are set to be released, offering insights into the health of the labour market and broader economic conditions. Investors will also focus on earnings updates from Brickworks and Washington H. Soul Pattinson, while Air New Zealand’s AGM may shed light on the travel sector’s ongoing recovery.
Star Entertainment has secured a vital funding deal, but challenges persist as the company works to navigate regulatory pressures and avoid potential risks.