Note: Figures recorded at 7:40am AEDT. Updated figures and a video recording will be available at 9am AEDT.
Stocks were mixed during Thursday trading, with the S&P 500 on the brink of breaching the 5,000 milestone for the first time ever.
The Dow Jones Industrial Average and broad-based index were little changed, while the Nasdaq Composite edged up 0.3%.
The S&P continued its dance with 5,000 after rising within striking distance of the landmark level during Wednesday’s session. The index touched as high as 4,999.89 on an intraday basis before paring back gains.
Strong earnings, and a continued chug higher in mega cap technology stocks, have boosted the market in recent sessions, but concentrated leadership in 2023′s darlings has been a matter of concern for some investors fearing it could hamper a sustainable rally.
Earnings remained top of mind for investors, with Disney surging 13% after beating quarterly earnings estimates and raising its guidance. Chipmaker and designer Arm jumped 59% after reporting stronger-than-expected earnings and providing an upbeat profit forecast.
Yields rose Thursday with the 10-year Treasury note last at 4.16%. The move put some pressure on stocks despite a raft of strong earnings reports that have lifted investor confidence that a robust economy can continue driving corporate profits and growth.
The earnings season continues after the bell with reports from Expedia, Affirm Holdings and Take-Two Interactive.
In commodity-related news, crude oil futures prices surged for the fourth consecutive day as Israel's rejection of a ceasefire proposal by Hamas heightened geopolitical tensions in the Middle East. U.S. Secretary of State Antony Blinken's diplomatic efforts aimed at securing a humanitarian pause in Gaza faced challenges as Israel vowed to continue its military campaign.
Figures around the globe
European markets closed mixed. London’s FTSE fell 0.44 per cent, Frankfurt added 0.25 per cent, and Paris closed 0.71 per cent higher.
Turning to Asian markets, Tokyo’s Nikkei gained 2.06 per cent, Hong Kong’s Hang Seng lost 1.27 per cent and China’s Shanghai Composite closed 1.28 per cent higher.
Yesterday, the Australian share market closed 0.31 per cent higher at 7,639.25.
Dividends payable
Newmark Property REIT (ASX:NPR)
Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap.
