| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 44860.31 | 123.74 | 0.28% |
| S&P 500 | 6021.63 | 34.26 | 0.57% |
| Nasdaq | 19174.30 | 119.46 | 0.63% |
| VIX | 14.10 | -0.50 | -3.42% |
| Gold | 2633.80 | 15.30 | 0.58% |
| Oil | 68.96 | 0.02 | 0.03% |
US MARKET
U.S. stocks climbed Tuesday, overcoming President-elect Donald Trump’s threats of new tariffs on China, Canada, and Mexico. The S&P 500 and Nasdaq Composite both rose 0.6% to new records, while the Dow Jones Industrial Average reversed earlier losses to close 0.3% higher, marking another consecutive record.
Drugmaker Amgen weighed on the Dow for much of the day, falling as much as 12% after weight-loss drug data disappointed Wall Street, though shares pared losses to close down 5%.
Trump’s comments late Monday about imposing significant tariffs on his first day in office sparked trade war fears, rattling auto stocks. Nissan and Honda, with Mexico-based plants, fell alongside domestic automakers Ford, General Motors, and Stellantis. Markets remained cautious, with some uncertainty surrounding Treasury Secretary nominee Scott Bessent’s potential influence.
Investors also reviewed Federal Reserve meeting minutes, which supported a gradual approach to rate cuts if the economy remains stable. Officials flagged sticky inflation and labor market risks as potential reasons to pause easing. Focus now shifts to Wednesday’s PCE inflation report, the Fed’s preferred gauge, for further policy signals.
LOCAL MARKET
Australian shares are set to open higher, tracking gains on Wall Street as the S&P 500 neared a record close. ASX futures were up 39 points, or 0.5%, early this morning.
Local investors will be watching the release of the monthly CPI at 11:30 a.m. AEDT, with National Australia Bank economists expecting annual inflation to hold steady at 2.1%. The trimmed mean CPI is forecast to tick up to 3.3% from 3.1%. Meanwhile, the Reserve Bank of New Zealand is set to announce a policy statement at noon, likely cutting its key interest rate by 50 basis points.
Global markets remain cautious about the potential impact of President Donald Trump’s proposed tariffs on Mexico, Canada, and China. While European stocks retreated, U.S. investors appeared less concerned, viewing some of Trump’s tariff threats as strategic negotiation tactics tied to issues like drug trafficking and border security.
On the ASX, several key companies are in focus today with AGMs scheduled for Core Lithium, HMC Capital, Harvey Norman, Liontown Resources, and Lynas Rare Earths. These updates will add further direction to the day’s trading.