The S&P 500 has achieved a new all-time high, closing above 6000 points for the very first occasion. The index concluded at 6001.35, representing an increase of 0.1 percent, following an intraday peak of 6017.31 during early trading in New York. Tesla’s stock significantly bolstered the market, climbing by 9.1 percent.
In the realm of cryptocurrencies, Bitcoin experienced a surge of over 10 percent, trading at over $US88,000 as of 8:30 AM AEDT. Australian stocks are projected to rise, mirroring the favorable performance reported on Wall Street. Market updates reveal notable shifts in monetary policy, equities, commodities, and currencies, offering valuable insights for investors and market participants.
The U.S. dollar reached a new 4-month peak, gaining against all G-10 currencies.
S&P 500 hits unprecedented high
The Australian dollar persisted in its downward trend, revisiting support levels around 0.6560.
Crude oil markets faced further declines due to the resilient U.S. dollar, looming trade conflicts, disappointing inflation figures from China, and anticipated weak demand. West Texas Intermediate futures fell by 3.1 percent to US$68.22. The metal markets also experienced declines, with copper dropping 1.3 percent to US$9,201 and aluminum decreasing 1.9 percent to $2,572.
Iron ore prices softened, with trading lowering to $100, following mixed reactions to the recent announcement of a fiscal package in China. European markets concluded higher, marking their most successful day in six weeks, with defense stocks leading the charge based on expectations of increased military spending in Europe during a Donald Trump administration. The Australian market is forecasted to open slightly higher this morning, as indicated by ASX SPI 200 Futures trading, which is up by 5 points (0.06 percent) to 8,291.
The Consumer Bankers Association (CBA) has announced that the Household Spending Insights (HSI) report will be released today, along with business and consumer confidence surveys.
