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US futures mixed after benchmarks post record close
United States stock futures were mixed on Thursday night (Friday AEDT) after the Dow Jones Industrial Average and S&P 500 notched fresh record closes, supported by strong gains in cyclical sectors. By 10:40 am AEDT (11:40 pm GMT), Dow futures were up 0.1%, S&P 500 futures were flat and Nasdaq 100 futures slipped 0.2%. In extended trading, Broadcom slid nearly 5.2% despite exceeding Wall Street’s fourth-quarter expectations. The chipmaker said artificial intelligence chip sales should double in the current quarter to about US$8.2 billion. Broadcom forecast first-quarter revenue of roughly $19.1 billion, signalling 28% year-on-year growth and easing concerns around AI demand. Lululemon Athletica rose about 10.5% after announcing its chief executive will step down on 31 January following more than a year of underperformance. Costco dipped 0.7% after hours. The retailer, which does not issue a full-year outlook, beat analysts’ quarterly expectations as sales increased 8.2% year on year. Thursday’s U.S. session saw investors rotate into economically sensitive stocks while taking profits in growth and AI-exposed names following the Federal Reserve’s third interest rate cut of the year. The Dow and S&P 500 both ended
Stock Markets
US markets mixed; Dow hits record as tech slumps
United States benchmark averages equities finished mixed on Thursday (Friday AEDT), with investors rotating out of high-growth technology stocks and into cyclical names following a Federal Reserve rate cut and lacklustre quarterly results from Oracle. The shift in sentiment helped propel the Dow Jones Industrial Average to a fresh record high. The Dow advanced 646.2 points or 1.3% to finish at 48,704.0, while the S&P 500 added 14.3 points or 0.2%, also closing at a record high of 6,901.0. The Nasdaq Composite slipped 60.3 points or 0.3% to 23,593.9 as tech names came under renewed pressure. Oracle shares tumbled 10.8% after the cloud computing company posted weaker-than-expected revenue and signalled higher spending ahead, intensifying concerns about its debt load. The update deepened debate over how quickly major technology companies will see returns on their artificial intelligence investments. Other AI-linked stocks also fell, with Nvidia down 1.5% and Broadcom falling 1.6% ahead of its quarterly earnings results released after the closing bell. Meanwhile, Walt Disney gained 2.4% after announcing a US$1 billion equity investment in OpenAI. The downturn in tech cooled momentum from the previous session, when
Stock Markets
US stock futures mixed following Fed cut rally
United States stock futures traded in a mixed fashion on Wednesday night (Thursday AEDT), following a rally earlier in the session after the Federal Reserve delivered another interest rate cut. By 10:45 am AEDT (11:45 pm GMT), Dow futures ticked up 0.1%, S&P 500 futures eased 0.1%, and Nasdaq 100 futures were down 0.3%. In extended trade, Oracle shed 11.3% after publishing mixed results against elevated expectations. The company reported Q2 earnings per share (EPS) of $2.26, beating estimates of $1.64, while revenue reached $16.1 billion compared with the consensus forecast of $16.19 billion. Adobe slipped 0.7% despite results topping expectations. The company posted record Q4 revenue of $6.19 billion, representing 10% year-over-year growth, while non-GAAP EPS came in at $5.50. Synopsys gained 2.7% after issuing stronger-than-anticipated quarterly results. It reported Q4 EPS of $2.90 versus $2.78 expected, while revenue of $2.26 billion came in slightly ahead of expectations. Stocks rose during the regular session after a divided Federal Reserve cut rates for the third time this year and ruled out any prospect of a rate increase. The Federal Open Market Committee lowered the key overnight borrowing rate by a quar
Stock Markets
Markets: Wall St rallies as Fed cuts by 25bp
United States equities closed higher on Wednesday (Thursday AEDT) after the Federal Reserve lowered interest rates for the third consecutive meeting and investors grew confident that more easing could follow next year. The policy shift, paired with broadly supportive commentary from Chair Jerome Powell, helped propel major benchmarks sharply higher. The Dow Jones Industrial Average climbed 497.5 points, or 1.1%, to close at 48,057.8, while the S&P 500 added 46.2 points, or 0.7%, to finish at 6,886.7. The benchmark index briefly traded above its record closing high of 6,890.89 before easing slightly into the close. The Nasdaq Composite rose 77.7 points, or 0.3%, ending the session at 23,654.2. Investors welcomed the Fed’s decision to reduce the federal funds rate by another quarter percentage point, bringing the target range to 3.5%-3.75%. The move, expected by markets, reinforced expectations that the central bank is edging toward a more accommodative policy stance as economic conditions soften. Several elements of the Fed’s announcement and Powell’s remarks were interpreted as positive for risk assets. The central bank revealed that it will begin buying short-term Treasury securities, expanding its balance sheet
Stock Markets
US futures little changed; GE Vernova pops 6%
United States stock futures were largely unchanged on Tuesday evening (Wednesday AEDT) as investors positioned themselves ahead of the Federal Reserve’s highly anticipated interest rate decision. By 10:45 am AEDT (11:45 pm GMT), Dow futures, S&P 500 futures were flat, while Nasdaq 100 futures ticked down 0.1%. In extended trading, shares in AeroVironment fell 4.1% after the defence technology group reported second-quarter adjusted earnings per share (EPS) of $0.44, below expectations of $0.78. Revenue, however, came in slightly ahead of forecasts at US$473 million versus the expected US$468 million. GameStop also declined sharply, dropping 5.9% after the retailer reported weaker-than-expected third-quarter revenue growth. The company reported EPS of $0.24 on sales of US$821 million - down roughly 4.5% from a year earlier. Cracker Barrel shares tumbled around 8.3% in extended dealings after first-quarter revenue missed market projections. The restaurant chain posted $797.2 million in revenue compared with expectations of $800.3 million, though its adjusted loss was narrower than anticipated. GE Vernova surged 6% after raising its 2026 revenue forecast to between US$41 billion and US$42 billion. This compares with thi

Stock Markets
US markets mixed; traders await expected Fed cut
United States equities ended in a mixed fashion on Tuesday (Wednesday AEDT) as traders positioned themselves ahead of the Federal Reserve’s final policy decision of the year. While, inflation remains above the Fed’s 2% target, market participants are betting that policymakers will maintain the easing trajectory already established in September and October. The Dow Jones Industrial Average slipped 179 points, or 0.4%, to 47,560.5. The S&P 500 finished 6 points lower at 6,840.5, effectively flat, while the Nasdaq Composite edged up 0.2%. Pressure on the Dow intensified after JPMorgan shares fell 4.7%, with Consumer and Community Banking CEO Marianne Lake saying the bank expects expenses to rise to roughly US$105 billion in 2026. Attention now turns to the Fed’s announcement due Wednesday (Thursday AEDT). Fed funds futures indicate an 87.4% probability of a 25-basis-point cut, sharply higher than the sub-67% probability priced in a month earlier, according to the CME Group FedWatch Tool. Investors will be listening closely for signals on the pace of cuts in early 2026, particularly given the uneven economic backdrop. One notable beneficiary of the anticipated easing was the Russell 2000, which touched a fresh intrad
Stock Markets
US futures rangebound; NVIDIA lifts on China chip deal
United States stock futures traded narrowly higher on Monday night (Tuesday AEDT) after President Donald Trump approved a deal allowing Nvidia to sell its H200 chips to China. By 10:35 am AEDT (11:35 pm GMT), Dow futures were flat, while futures for the S&P 500 and Nasdaq 100 each edged up 0.1% Nvidia gained 2.2% in extended trading after Trump posted on Truth Social that the company would be allowed to ship its advanced H200 chips to “approved customers” in China and other markets, provided that 25% of the sales proceeds are paid to the U.S. government. Trump said Chinese President Xi Jinping had “responded positively” to the arrangement. The move follows a meeting last week between Nvidia Chief Executive Jensen Huang and Trump, offering the chipmaker a breakthrough after months of tense trade negotiations and tightening export controls. In the regular session on Monday, semiconductor and mega-cap tech stocks were among the market’s bright spots. Broadcom rose nearly 3%, while Microsoft advanced around 2%, supported by a report from The Information suggesting the two companies are exploring the development of custom chips. Despite the enthusiasm in the tech sector, all three major U.S. indices closed lower in th
Stock Markets
US benchmarks close lower as Fed meeting looms
United States benchmark averages drifted lower on Monday (Tuesday AEDT) as investors positioned themselves for the Federal Reserve’s final policy meeting of the year, with major benchmarks giving up ground after a steady run of weekly gains. The Dow Jones Industrial Average dropped 215.7 points or 0.5% to 47,739.3, the S&P 500 declined 23.9 points or 0.4% to 6,846.5, and the Nasdaq Composite eased 32.2 points or 0.1% to 23,545.9. The mood was weighed down by the persistent rise in Treasury yields, which continued to climb even as markets brace for what many expect to be the Fed’s third consecutive quarter-point reduction. The 10-year Treasury rose 0.8% to 4.17%, while the 2-year yield climbed 0.5% to 3.581%. Expectations for a December rate cut strengthened last week after data showed consumer spending rose modestly towards the end of the third quarter, reinforcing views that the central bank will push ahead with further easing to support economic momentum. Even so, uncertainty persists around the path of monetary policy into 2025, with this week’s meeting expected to showcase one of the most divided committees in several years. Market-based pricing shows that sentiment remains firmly tilted towards relief. The C
Stock Markets
US futures trade steady after Wall St gains
United States stock futures traded in a tight range on Sunday night (Monday AEDT), extending last week’s gains as investors anticipate potential interest rate cuts at this week’s Federal Reserve meeting. By 10:35 am AEDT (11:35 pm GMT), Dow futures were flat, while S&P 500 and Nasdaq 100 futures rose 0.1% each. Sunday’s session follows a second consecutive positive week for the major benchmarks. The Dow added 0.5%, the S&P 500 lifted 0.3% and the Nasdaq Composite gained 0.9% for the week, supported by softer-than-expected inflation data from September’s core personal consumption expenditures (PCE) price index, which was released late due to the government shutdown. That report was the final major economic release ahead of the Fed’s policy meeting this week. Traders have increasingly priced in a rate cut at the year-end Federal Open Market Committee (FOMC) meeting. Fed funds futures now indicate roughly an 86.2% probability of a 25 basis point (bp) reduction, up from below 67% a month ago, according to the CME Group FedWatch Tool. Richard Yetsenga, Group Chief Economist for ANZ, commented in a note to clients: "We expect a 25bp cut in the target range for the federal funds rate to 3.50–3.75% at the 9–10 December F