EQUITIES
| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 40539.93 | -49.41 | -0.12% |
| S&P 500 | 5463.54 | 4.44 | 0.08% |
| Nasdaq | 17370.20 | 12.32 | 0.07% |
| VIX | 16.60 | 0.21 | 1.28% |
| Gold | 2379.90 | 2.10 | 0.09% |
| Oil | 75.85 | 0.04 | 0.05% |
US MARKET
The S&P 500 slightly rose in a volatile trading week filled with key earnings, a Federal Reserve rate decision, and important economic data. Both the Nasdaq and S&P 500 increased by 0.1%, while the Dow fell by the same margin.
Investors are watching how major tech earnings and economic indicators will affect the market, with tech stocks recently declining due to valuation concerns. The Fed is expected to hold rates, with all eyes on its future signals and Friday’s job data.
McDonald’s shares climbed 3.7% despite a sales dip, and energy stocks fell as U.S. crude prices dropped. The bond market was stable, with a minor decrease in the 10-year U.S. Treasury yield.
LOCAL MARKET
The Australian share market started the week strong, driven by upcoming central bank meetings and a crucial domestic inflation report. The S&P/ASX200 and All Ordinaries indices rose by 0.86% and 0.87%, respectively.
Key events include the US Federal Reserve’s expected rate hold, anticipated earnings from tech giants like Microsoft and Meta, and Australia’s second-quarter inflation data on Wednesday. This data is particularly significant as it might prompt the Reserve Bank to adjust rates.
In sector movements, technology stocks led with significant gains, while Star Entertainment Group jumped 14.7% due to potential acquisition interest. Most major banks saw increases except ANZ, which fell due to bond-trading scrutiny. Mining stocks were mixed, with BHP down slightly and Fortescue and Rio Tinto steady.
The Australian dollar saw a minor rise against the US dollar from Friday’s close.