Global Market Overview
Major global stock indices registered significant movements. The Dow Jones Industrial Average increased by 1.1%, and the S&P 500 rose by 0.6%. The Nasdaq Composite recorded a 0.9% gain.
Equity Performance
- Technology Sector: Data storage and memory stocks experienced increases, with SanDisk rising by 23%, Western Digital by 16%, and Seagate Technology by 13%.
- Energy Sector: Oil company shares declined following a retreat in oil prices. Exxon Mobil decreased by 2.3%, and Chevron fell by 4.5%.
- European Markets: Germany's Dax, Spain's IBEX, and the UK's FTSE 100 all closed at record highs. The pan-European Eurostoxx 600 also reached a record close, advancing 0.6%, attributed to a larger-than-expected inflation slowdown in the region.
Currency and Commodities
- US Dollar: The US dollar strengthened against most major currencies.
- Australian Dollar: The Australian dollar appreciated by 0.4% against the US dollar, reaching 67.37 US cents.
- Gold: Gold prices increased by 1%, trading just below $US4,500 per ounce.
- Copper: Copper reached a new record high, increasing by nearly 2% on the London Metal Exchange (LME) to $US13,234 per tonne. This marks an approximately 7% increase since the beginning of the year.
- Nickel: Nickel prices on the LME rose by over 10% following news of Indonesia's plans to reduce production of the industrial metal.