| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 40589.34 | 654.27 | 1.64% |
| S&P 500 | 5459.10 | 59.88 | 1.11% |
| Nasdaq | 17357.88 | 176.16 | 1.03% |
| VIX | 16.39 | -2.07 | -11.21% |
| Gold | 2397.60 | 16.60 | 0.70% |
| Oil | 77.39 | 0.23 | 0.30% |
US MARKET
US stocks recovered on Friday after three days of declines, buoyed by positive inflation data suggesting the Federal Reserve might reduce interest rates in September.
The Nasdaq and S&P 500, which had weakened earlier in the week, both saw gains. June’s personal consumption expenditures index indicated a modest increase in consumer prices, aligning with expectations and reinforcing market belief in a potential rate cut next month.
Investor sentiment shifted, with the CME FedWatch Tool showing a high likelihood of a rate reduction. Major US indexes, including the Dow Jones and Nasdaq, opened higher.
Treasury yields also fell, while commodities like oil and gold varied, and Bitcoin saw an increase.
LOCAL MARKET
Australian stocks closed higher this week despite mixed global cues. The S&P/ASX 200 increased by 0.8% to 7,921.3, while the All Ordinaries rose 0.7% to 8,153.4.
Gains were led by the mining sector, which saw a 1.4% rise, and property stocks, up 1.3%.
Consumer staples, however, declined. Global markets showed mixed results, with US tech shares struggling, while mining giants like BHP and Rio Tinto posted significant gains.
The Australian dollar slightly strengthened against the US dollar.