US Markets
The Nasdaq Composite and S&P 500 edged higher on Tuesday, lifted by a sharp rally in Palantir, as Wall Street sought stability amid the latest global trade developments.
The tech-heavy Nasdaq gained 1.35% to close at 19,654.02, while the S&P 500 rose 0.72% to 6,037.88. The Dow Jones Industrial Average added 134.13 points, or 0.3%, finishing at 44,556.04.
Palantir surged about 24% after posting fourth-quarter results that exceeded analysts’ expectations, reaching a new record high. The rally also buoyed other major tech stocks, with Nvidia climbing 1.7% during the session.
Meta Platforms
Meta Platforms continued its impressive run, extending its winning streak to 12 consecutive sessions. This sustained growth further solidifies the company’s strong performance in the tech sector.
US-China Trade Talks
The impending discussions between President Trump and President Xi Jinping are adding to market uncertainty. These high-stakes negotiations will be critical in determining the trajectory of the trade war and its impact on global markets.
US Tariffs on Chinese Goods
New US tariffs on Chinese goods have sparked market volatility and contributed to the surge in gold prices. The tariffs underscore the ongoing trade tensions between the two economic giants.
Gold Price
Gold reached a historical peak of $2,842.60 per ounce. This record high reflects investor anxiety related to the US-China trade dispute and a flight to safe-haven assets.
ASX Futures
ASX futures are currently up 0.6%, suggesting a positive start to the Australian trading day
Amcor, BWP Trust, and Centuria Office REIT Half-Year Results
Investors will be keenly watching the half-year results from Amcor, BWP Trust, and Centuria Office REIT.
Tower and PM Capital Global Opportunities Fund Updates
Announcements from Tower, a New Zealand insurer, and PM Capital Global Opportunities Fund will also be closely monitored.