| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 42635.20 | 106.84 | 0.25% |
| S&P 500 | 5918.25 | 9.22 | 0.16% |
| Nasdaq | 19478.88 | -10.80 | -0.06% |
| VIX | 17.70 | -0.12 | -0.67% |
| Gold | 2680.10 | 14.70 | 0.55% |
| Oil | 73.32 | -0.93 | -1.25% |
US MARKET
US stocks closed mixed on Wednesday as investors reacted to reports that President-elect Donald Trump may declare a national economic emergency to justify sweeping tariffs. Meanwhile, Federal Reserve minutes revealed broad support among officials for a gradual pace of interest rate cuts in 2025.
The S&P 500 edged up 0.1%, the Dow Jones gained 0.25%, while the Nasdaq slipped just below the flat line. The 10-year Treasury yield held at 4.7% ahead of Friday’s key December jobs report.
Markets were unsettled by Trump’s reported plan to use emergency powers for his tariff agenda, heightening policy uncertainty ahead of Inauguration Day. Labor market data added to the mixed sentiment, with private hiring slowing in December but weekly jobless claims unexpectedly falling, signaling continued labor market resilience.
Earlier economic reports showing strong services activity and labor market tightness revived inflation concerns, reducing expectations for near-term Fed rate cuts. Traders now see less than a 50% chance of easing before May, according to the CME FedWatch tool.
US markets will remain closed Thursday in observance of a national day of mourning for former President Jimmy Carter, with attention shifting to Friday’s jobs data for further economic signals.
LOCAL MARKET
Australian shares are poised to end their five-day winning streak on Thursday as investors brace for a forecasted surge in retail sales, potentially dampening hopes for an imminent interest rate cut. Futures suggest the S&P/ASX 200 will open 44 points, or 0.5 per cent, lower, while the Australian dollar slipped 0.3 per cent overnight to trade at US62.18¢.
In the previous session, the ASX rallied despite early losses and a weaker performance on Wall Street, buoyed by softer-than-expected monthly core inflation data. However, today’s anticipated retail sales figures are expected to test investor confidence. Economists predict a 1 per cent rise in November retail sales, marking the largest increase since February.