US Markets Close Higher, ASX Poised for Gains

Market Reports

by Finance News Network

US Markets
US stocks rallied overnight, led by the industrial and real estate sectors. However, tech stocks faltered, with Apple down nearly 4% on concerns about iPhone sales.
The Dow Jones Industrial Average surged 537.98 points, or 1.24%, closing at 44,025.81. The S&P 500 increased by 0.88%, finishing at 6,049.24, while the Nasdaq Composite advanced 0.64%, reaching 19,756.78.
Shares of Netflix surged more than 10% after the company reported earnings that exceeded expectations on both revenue and profit following Tuesday’s closing bell. Netflix surpassed 300 million paid memberships, marking a record addition of 19 million subscribers. The company attributed the growth to its content offerings, enhanced product features, and typical seasonal boosts during the fourth quarter.

Trump Tariffs
President Trump’s proposed tariffs on Mexico and Canada, along with his pause on new offshore wind leases, are causing market uncertainty. While the lack of definitive tariff announcements has calmed some fears, the situation remains fluid and investors are proceeding with caution.

Commodities and Currencies
The US-AUD dollar slipped slightly, while iron ore and gold both saw gains. The price of Bitcoin also rallied, mirroring the trend in gold.

New Zealand Inflation
Economists are closely watching New Zealand’s inflation figures, expected to rise to 2.3% annually. This data could influence the Reserve Bank of New Zealand’s monetary policy decisions and impact the broader Australasian economic outlook.

ASX Day Ahead

ASX futures are pointing to a positive start, up 0.3%, mirroring the gains seen in US equities.
Regal Partners reported a 63.7% increase in assets under management in 2024, driven by widespread gains.
Endeavour Group is facing scrutiny as internal figures suggest the true cost of its 2021 split from Woolworths may be higher than initially reported.


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