Author Archives: Atchison

ASX closes lower despite iron ore rebound; BHP and Rio Tinto extend gains, Johns Lyng jumps on takeover

The local market briefly broke through the 8,600 point level on Friday, only to finish 9 points lower, as the S&P/ASX 200 Index (ASX: XJO) closed down 0.1 per cent. The weakness was due to another barrage of tariff announcements from Trump: a plan to levy every trading partner a tariff of 15 to 20 per cent, and 35 per cent on Canadian imports. The result was a 0.3 per cent decline for the week. The materials sector was the standout as Rio Tinto Limited (ASX: RIO) gained 2.3 per cent and BHP Group Limited (ASX: BHP) 2.8 per cent, as Chinese stimulus hopes grow. BHP has climbed more than 10 per cent in the last three weeks, and Fortescue Metals Group Limited (ASX: FMG) an impressive 17 per cent. Engineering group Johns Lyng Group Limited (ASX: JLG) was the ultimate standout as the company agreed to a $1.3 billion deal that will see it sold to Pacific Equity Partners for $3.90 per share, with the stock up 22 per cent on the news. Ventia Services Group Limited (ASX: VNT) fell close to 2 per cent despite the company increasing the scope of its agreement with the NBN by nearly $300 million.

Markets stall on tariff talk, but historical trends signal upside; Tesla expands to India, Ferrero makes $3.1 billion play

The Dow Jones Industrial Average (INDEXDJX: DJI) fell 0.6 per cent, while the S&P 500 Index (NYSE: SPX) slipped 0.3 per cent from an all-time high as tariff rhetoric intensified once again. A rally that saw five record highs in nine trading days showed signs of reversing amid the threat of a 35 per cent tariff on key Canadian imports. Kraft Heinz Company (NASDAQ: KHC), known for its ketchup, rose more than 2 per cent as management flagged plans to sell off parts of the slowing global business, while Bitcoin hit another all-time high as index and ETF providers continue to enter the market. Five of the Magnificent Seven gained, including Tesla Inc (NASDAQ: TSLA), which climbed more than 1 per cent after the company confirmed the opening of its first Indian store and the intention to start deliveries sooner rather than later. According to analysis, any time the S&P 500 Index (NYSE: SPX) increases more than 20 per cent in two months or less, it has been consistently higher 12 months later, and by an average of 15 per cent. Ferrero International, the Italian food brand, has shocked the market in a deal to buy US giant WK Kellogg for USD 3.1 billion, a premium of 31 per cent to the closing price.

ASX slips from record high amid earnings and bank losses
The S&P/ASX 200 Index ended virtually flat on Monday, gaining just five points to 8972.40, after touching a record intraday high of 9054.50. Optimism from anticipated US interest rate cuts initially drove gains, but local sentiment soured due to underwhelming corporate earnings and weakness in the banking sector. Shares of Australia’s four largest banks, National Australia Bank Limited (ASX: NAB), Westpac Banking Corporation (ASX: WBC), Commonwealth Bank of Australia (ASX: CBA), and Australia and New Zealand Banking Group Limited (ASX: ANZ), all fell between 1.4 and 1.8 per cent.

Miners and energy support market amid corporate disappointments
The materials and energy sectors cushioned broader market losses, driven by rising commodity prices amid US dollar weakness. Major miners benefited from higher iron ore futures, with BHP Group Limited (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO) all gaining over 2 per cent. Santos Limited (ASX: STO) advanced 0.6 per cent following takeover updates and solid earnings. However, investor sentiment took a hit with Reece Limited (ASX: REH) tumbling 16.4 per cent on disappointing full-year profits, and Endeavour Group Limited (ASX: EDV) declining 1.4 per cent after a sharp drop in net profit. Notably, Ansell Limited (ASX: ANN) surged 10.3 per cent and Aussie Broadband Limited (ASX: ABB) jumped 20.2 per cent on strong outlooks, while Southern Cross Media Group Limited (ASX: SXL) soared 26.5 per cent after reporting a strategic turnaround.

Wall Street eases as focus shifts to Nvidia and inflation data
US markets dipped after last week’s rally, with the S&P 500 Index falling 0.3 per cent, the Dow Jones Industrial Average dropping 349 points, and the Nasdaq 100 Index slipping 0.4 per cent. Investors paused ahead of Nvidia Corporation’s (NASDAQ: NVDA) earnings, which is expected to significantly impact markets given its 8 per cent weight in the S&P 500. Meanwhile, Intel Corporation (NASDAQ: INTC) lost 1 per cent after reports of a 10 per cent US government stake. Traders are also closely watching upcoming inflation data, with expectations for a 2.9 per cent core PCE reading, as Federal Reserve rate-cut odds remain high following Jerome Powell’s recent dovish comments.

ASX weighed down by energy and banking sectors

The Australian sharemarket edged lower on Monday, dragged down by losses in the energy sector and major banks, despite strength in technology stocks. The S&P/ASX 200 Index (ASX: XJO) fell by 21.6 points to close at 8849.6, mirroring Wall Street’s decline last Friday. Eight of the 11 sectors ended in negative territory, with energy and financials leading the retreat. Woodside Energy Group Limited (ASX: WDS) dropped 2.7 per cent to $24.98 and Santos Limited (ASX: STO) slipped 1.2 per cent to $7.71 amid weaker oil price sentiment. Meanwhile, the big four banks also pulled the index down, led by Australia and New Zealand Banking Group Limited (ASX: ANZ), which fell 1 per cent. National Australia Bank Limited (ASX: NAB) declined 0.8 per cent, Westpac Banking Corporation (ASX: WBC) eased 0.6 per cent, while Commonwealth Bank of Australia (ASX: CBA) eked out a late 0.1 per cent gain.

Gold stocks retreat despite bullish outlook

Gold miners reversed course even as gold prices remained firm, driven by expectations of a US interest rate cut and ongoing geopolitical uncertainty. Evolution Mining Limited (ASX: EVN) lost 1.4 per cent, Newmont Corporation (ASX: NEM) shed 0.7 per cent, and Ramelius Resources Limited (ASX: RMS)fell 1.5 per cent. Despite gold’s 37 per cent rally year-to-date, some investors are engaging in profit-taking. According to the World Gold Council, global gold exchange-traded funds reached a record high of $US407 billion in assets under management. In contrast, Life360 Inc (ASX: 360) and Boss Energy Limited (ASX: BOE) topped the gainers list, each rising more than 6 per cent. Other standout performers included Rio Tinto Limited (ASX: RIO) and South32 Limited (ASX: S32), which provided some support to the index. However, BHP Group Limited (ASX: BHP) fell 0.6 per cent despite stable iron ore prices. Volatility also hit Woolworths Group Limited (ASX: WOW) and Coles Group Limited (ASX: COL) amid revelations of $1 billion in potential backpay liabilities.

Global markets eye US inflation data

Wall Street began the week positively as investors prepared for critical inflation data that could influence the US Federal Reserve’s rate decisions. The S&P 500 Index (NYSE: SPX) gained 0.2 per cent, the Nasdaq 100 Index (NASDAQ: NDX) rose nearly 0.5 per cent, and the Dow Jones Industrial Average (INDEXDJX: DJI) advanced by 114 points. Hopes for a rate cut were bolstered by softer US labor market data last week. Market participants are now closely watching upcoming Producer Price Index (PPI) and Consumer Price Index (CPI) reports. Leading the rally were technology firms including Amazon.com Inc. (NASDAQ: AMZN), Broadcom Inc. (NASDAQ: AVGO), NVIDIA Corporation (NASDAQ: NVDA), and Oracle Corporation (NYSE: ORCL). Meanwhile, Robinhood Markets Inc. (NASDAQ: HOOD) and AppLovin Corporation (NASDAQ: APP) surged after news of their inclusion in the S&P 500. On the downside, Apple Inc. (NASDAQ: AAPL) slipped 0.7 per cent and T-Mobile US Inc. (NASDAQ: TMUS) fell 3.9 per cent.

All Ords finishes tough week on positive note, Orica reports strong finish to the year

The Australian share market closed the week with a 0.5 per cent gain on Friday, led by technology, gold miners and real estate, after weaker US economic data bolstered hopes of rate cuts. Despite the day’s rebound, the S&P/ASX All Ordinaries Index (ASX: XAO) ended the week down 0.9 per cent, breaking a four-week winning streak. Growth names bounced, with Life360 Inc (ASX: 360) and Zip Co Limited (ASX: ZIP) rising 3.1 and 4.7 per cent respectively. Property stocks also rallied, with Charter Hall Group (ASX: CHC) up 2.6 per cent on hopes of falling rates. The gold price extended its rally, further supporting the sector. SiteMinder Limited (ASX: SDR) was queried by the ASX after its shares surged 21 per cent in a single session, with management confirming no undisclosed information. Orica Limited (ASX: ORI) added 1.2 per cent, flagging stronger second-half earnings on the back of resilient demand for its core blasting products.

S&P 500 pulls back from all-time highs, Tesla rallies, Intel looks to 2026

US markets eased from record highs, with the S&P 500 Index (NYSE: SPX) down 0.3 per cent and the Dow Jones Industrial Average (INDEXDJX: DJI) off 0.5 per cent. Tariff risks resurfaced as President Trump warned semiconductor import tariffs would be introduced sooner than expected, though exemptions could apply to groups like Apple Inc (NASDAQ: AAPL) given its US investment commitments. NVIDIA Corporation (NASDAQ: NVDA) fell 2.7 per cent on the news. In contrast, Tesla Inc (NASDAQ: TSLA) rallied more than 3 per cent after the board confirmed a new pay package for CEO Elon Musk that could exceed 1 trillion US dollars in value. Intel Corporation (NASDAQ: INTC) slipped 0.5 per cent while stressing that 2026 will be pivotal for regaining competitiveness in chip manufacturing, now backed by US government ownership. Broadcom Inc (NASDAQ: AVGO) announced a partnership with OpenAI to develop AI accelerators.

The bounce back begins, ASX gains 1 per cent, CommBank rallies, Domino’s jumps on insider buying

The local market posted a strong bounce back on Thursday, with the S&P/ASX 200 Index (ASX: XJO) gaining 1 per cent for the day. Technology rose 1.3 per cent, while financials added 1.7 per cent on the back of a 2 per cent rally in Commonwealth Bank of Australia (ASX: CBA). Westpac Banking Corporation (ASX: WBC) and Australia and New Zealand Banking Group Limited (ASX: ANZ) both gained more than 1 per cent amid improved sentiment. On the flip side, Woodside Energy Group Ltd (ASX: WDS) and Santos Limited (ASX: STO) slipped as investors weighed the risk of higher OPEC+ output impacting oil and gas prices. Domino’s Pizza Enterprises Limited (ASX: DMP) jumped after chair Jack Cowin purchased another 5 million dollars of shares following recent weakness. In contrast, Boom Logistics Limited (ASX: BOL) fell 2.6 per cent after revealing its former CEO misused up to 1 million dollars in company funds.

Federal Court dismisses Harvey Norman, Latitude claims, IAG hit by competition concerns, IRESS surges on leadership change

Harvey Norman Holdings Limited (ASX: HVN) was little changed after the Federal Court dismissed claims against Latitude Finance over allegedly misleading “low interest” advertising. Austal Limited (ASX: AST) gained investor confidence after the US Coast Guard exercised options worth 480 million dollars, underlining continued demand. Insurance Australia Group Limited (ASX: IAG) underperformed after the ACCC raised concerns that its acquisition of RAC Insurance could substantially reduce competition in Western Australia. In contrast, IRESS Limited (ASX: IRE)surged nearly 7 per cent after appointing industry veteran Andrew Russell to replace outgoing CEO Marcus Price in November, a move welcomed by investors following weeks of governance concerns.

S&P 500 hits all-time high, weak employment data to support rate cuts, Broadcom rallies, Tesla to roll out robotaxis

The S&P 500 Index (NYSE: SPX) posted a new all-time high, adding 0.8 per cent, while the NASDAQ Composite Index (NASDAQ: IXIC) rose 0.9 per cent and the Dow Jones Industrial Average (INDEXDJX: DJI) 0.6 per cent. Optimism grew around possible rate cuts after softer employment data and reassurance from President Trump that the Federal Reserve should remain “independent” despite his influence. Broadcom Inc (NASDAQ: AVGO) gained 1 per cent after posting strong sales growth, although below lofty expectations, while continuing to sell to Alphabet Inc (NASDAQ: GOOGL) and Apple Inc (NASDAQ: AAPL). Tesla Inc (NASDAQ: TSLA) rose after unveiling its Robotaxi app and benefiting from looser safety requirements for autonomous vehicles. Elsewhere, Lululemon Athletica Inc (NASDAQ: LULU) shares rallied 3 per cent despite weaker earnings guidance, as investors welcomed its more cautious growth outlook.

All Ords sinks as GDP beats expectations, technology sold off, gold rallies behind Northern Star

The local market’s difficult start to September continued, tracking US weakness as concerns about global economic disruption grew. The S&P/ASX All Ordinaries Index (ASX: XAO) fell 1.7 per cent on Wednesday, with every sector finishing lower. Technology dropped 3.9 per cent and financials 2.8 per cent, led by Commonwealth Bank of Australia (ASX: CBA) which fell another 3.5 per cent. Gold was the standout once again, with Northern Star Resources Limited (ASX: NST) gaining 0.5 per cent on the back of record-high bullion prices and volatility in bond yields. Rate cut hopes have now faded after GDP showed the Australian economy grew faster than expected at 1.8 per cent, driven by resilient consumer spending. While above forecasts, this remains slow growth by both historic and global standards.

COG Financial Services buys salary packaging group, Woodside shrugs off Russia concerns, Optus sells more towers

Smaller financial services group COG Financial Services Limited (ASX: COG) announced a 40 million dollar acquisition of salary packaging group EasiFleet, aiming to expand scale and efficiency. Meanwhile, Optus sold another 340 telecommunications towers to Waveconn, with lease-back arrangements in place to release capital for growth opportunities and reduce local exposure. Woodside Energy Group Ltd (ASX: WDS) was more resilient than the broader market, after management downplayed concerns around Russia and China’s partnership on the Power of Siberia 2 pipeline. Woodside emphasised its diverse customer base as protection from geopolitical shifts.

US markets recover on tech, job market weakness, Alphabet surges, Salesforce cuts earnings

US markets ended mixed, with the Dow Jones Industrial Average (INDEXDJX: DJI) flat, the NASDAQ Composite Index (NASDAQ: IXIC) up more than 1 per cent, and the S&P 500 Index (NYSE: SPX) higher by 0.5 per cent. Alphabet Inc (NASDAQ: GOOGL) surged 9 per cent after a court ruling confirmed it would not be required to sell its Chrome browser to address competition concerns. Apple Inc (NASDAQ: AAPL) added more than 3 per cent on news it receives up to 20 billion US dollars annually for Google’s search engine exclusivity. Attention is back on the Federal Reserve, as weaker jobs data has boosted rate cut expectations for September. Salesforce Inc (NYSE: CRM) fell in after-market trade on disappointing sales growth guidance, raising concerns about competition from AI-enabled CRM providers. Meanwhile, Macy’s Inc (NYSE: M) jumped more than 20 per cent after reporting its strongest same-store sales growth in three years, highlighting US consumer resilience.

ASX down for third straight day, CSL marks eight losing days, Westpac buoys banks on strong result

The local market finished a third straight day lower, with the S&P/ASX 200 Index (ASX: XJO) dropping 0.3 per cent ahead of an important GDP result. Financials and healthcare were the standouts, both up 0.4 per cent, while retailers were down 1.9 per cent and staples 1.7 per cent as both Woolworths Group Limited (ASX: WOW) and Wesfarmers Limited (ASX: WES) dropped close to 3 per cent after going ex-dividend. The financial sector was buoyed by Westpac Banking Corporation (ASX: WBC) which reported a 15 per cent jump in business lending as the group seeks to compete with the likes of Commonwealth Bank of Australia (ASX: CBA). The company plans to add 350 more business bankers, while the core deposit base grew 5 per cent to 151 billion dollars. CSL Limited (ASX: CSL) dropped again, albeit less than 1 per cent, as the company faced an eighth straight day of losses following a weaker than expected profit result. All eyes are on tomorrow’s GDP result, expected to show an anaemic Australian economy growing at 1.6 per cent, with hopes that this will support further rate cuts.

PolyNovo jumps on Medicare opportunity, NRW bounces on acquisition, KFC sales buoy Collins Foods

Shares in biotechnology group PolyNovo Limited (ASX: PNV) surged more than 10 per cent after the company confirmed it expected to benefit significantly from changes to Medicare funding in the US, which would reimburse outpatient wound care — a key plank of its product offering. Mining contractor NRW Holdings Limited (ASX: NWH)jumped more than 6 per cent after leaving a trading halt and announcing the acquisition of 100 per cent of mining and construction group Fredon for 200 million dollars in cash. Fried chicken demand buoyed Collins Foods Limited (ASX: CKF), with the KFC operator reporting 5.8 per cent growth in same-store sales in the first 18 weeks of the financial year, supported by expansion into Europe. Guidance of low to mid-teens profit growth for FY26 was also confirmed. Meanwhile, Platinum Asset Management Limited (ASX: PTM) fell further as a major investor flagged a redemption of more than 500 million dollars — just under 10 per cent of assets under management — only weeks before its planned merger with L1 Capital.

US markets begin September on negative tone, NVIDIA slump continues on bond yields, TSMC export revoked

The US market began September on a negative tone, with all three benchmarks losing more than 0.6 per cent on Tuesday, led by the NASDAQ Composite Index (NASDAQ: IXIC), which finished 0.8 per cent lower. NVIDIA Corporation (NASDAQ: NVDA) continued its longest slump in some time, falling another 2 per cent as US bond yields reached 5 per cent amid concerns that valuations — at 22 times future earnings — are the highest since the Dot Com bubble. Alphabet Inc (NASDAQ: GOOGL) outperformed after a federal judge confirmed the company would not need to sell its Chrome browser to meet competition concerns. Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM)confirmed the government had revoked authorisation to ship essential chips to its Chinese base, escalating the trade war. Tesla Inc (NASDAQ: TSLA) fell another 1 per cent as its India entry disappointed and Chinese deliveries slowed.

All Ords hit by risk-off move, gold, Capricorn (ASX:CMM) surge on Trump comments, RPM Global (ASX:RUL) jumps on takeover offer

The local market suffered its worst performance in several weeks, falling as much as 0.7 per cent on Monday but ultimately finishing down 0.5 per cent. The technology and retail sectors were the biggest detractors, falling 2.7 and 1.2 per cent respectively as growth concerns emanated from the US ahead of Monday’s Labour Day holiday. WiseTech Global (ASX:WTC) and Xero (ASX:XRO) both fell by more than 3 per cent amid concerns about growth prospects and a rotation away from the highly valued technology sector overseas. Junior gold miner Capricorn (ASX:CMM) was up more than 11 per cent after President Trump suggested that inflation had disappeared, triggering a sharp short-term rally. The banking sector remains under pressure, as the likes of the Commonwealth Bank (ASX:CBA) and Westpac (ASX:WBC) continue to stagnate, falling 0.8 per cent respectively. But it was all about mining software business RPM Global (ASX:RUL) with shares in the company surging more than 22 per cent after confirming that global giant Caterpillar (NYSE:CAT) had made a bid for the company valuing it at $1.1 billion. 

Harvey Norman (ASX:HVN) boosted by upgrades, Insurance Australia Group (ASX:IAG) announces acquisition, Pro Medicus (ASX:PME) off despite positive moves

Shares in retailer Harvey Norman (ASX:HVN) surged more than 8 per cent following a similarly strong day on Friday, with brokers upgrading expectations for the up and down stock following a much better than expected earnings result. It was the opposite story for Pro Medicus (ASX:PME) as the radiology and imaging software finished flat, caught up in the technology rotation, despite announcing a deal with the Department of Veteran’s Affairs for the use of its Visage platform. Insurance Australia Group (ASX:IAG) posted a positive day in comparison to the broader financial sector, gaining slightly after announcing the acquisition of 90 per cent ownership in RACQ’s underwriting business, and entering a 25 year distribution deal to offer insurance for the motoring club. Dreamworld operator Coast Entertainment (ASX:CMM) bounced after the Queensland Government flagged that it would potentially takeover the groups planning applications for changing to its theme parks amid complex issues regarding environmental impacts.

ASX edges lower as profit-taking sets in
The Australian share market slipped slightly on Friday, with the S&P/ASX 200 Index falling 6.90 points to close at 8973.10. Despite the minor decline, the benchmark notched a 2.6 per cent gain for August, marking its fifth consecutive monthly rise and a fourth straight week of gains. The index has now climbed over 25 per cent from its April lows. Real estate and banking sectors were among the weakest performers, with Stockland Corporation Limited (ASX: SGP) down 1.4 per cent, Commonwealth Bank of Australia (ASX: CBA) losing 1.2 per cent, and Westpac Banking Corporation (ASX: WBC) shedding 1.1 per cent.

Corporate moves and standout performances
Technology led the way with NextDC Limited (ASX: NXT) jumping 17.4 per cent following a positive market reaction to its capital efficiency plans. On the corporate front, Harvey Norman Holdings Limited (ASX: HVN) surged 10.4 per cent after delivering a profit beat, while Austal Limited (ASX: ASB) rose 14.5 per cent on the back of a record order pipeline and a federal shipbuilding deal. Meanwhile, PEXA Group Limited (ASX: PXA) fell 8.6 per cent after its profit missed expectations. Other notable moves included Mesoblast Limited (ASX: MSB) tumbling 9.5 per cent, Boss Energy Limited (ASX: BOE) gaining 7.7 per cent, Cettire Limited (ASX: CTT) rising 5 per cent, and Bubs Australia Limited (ASX: BUB) climbing 9 per cent after reporting its first statutory profit.

Global markets soften on inflation concerns
On Wall Street, major indices closed lower on Friday as inflation data tempered investor sentiment. The S&P 500 Index declined 0.6 per cent, the Nasdaq Composite Index dropped 1.2 per cent, and the Dow Jones Industrial Average fell by 92 points, or 0.2 per cent. The US Core PCE inflation gauge rose 2.9 per cent year-over-year in July, in line with forecasts but its fastest pace since February. Weakness in tech stocks saw NVIDIA Corporation (NASDAQ: NVDA) drop 3.4 per cent and Dell Technologies Inc. (NYSE: DELL) fall 8.9 per cent, while Alibaba Group Holding Limited (NYSE: BABA) rose 12.9 per cent on strong cloud results. Despite the day’s pullback, all three major indices posted monthly gains, with the Nasdaq recording its fifth consecutive monthly rise. US markets will be closed Monday for Labor Day.

ASX climbs as financials lead

The S&P/ASX 200 Index advanced 19.5 points, or 0.2 per cent, to close at 8980 on Thursday, edging closer to a fifth consecutive monthly gain. Investor sentiment was buoyed by a busy earnings season, despite ongoing market volatility. While energy and materials sectors dragged, financials provided the uplift. National Australia Bank Limited (ASX: NAB) rose 2.4 per cent after a Morgan Stanley upgrade, with Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corporation (ASX: WBC), and Australia and New Zealand Banking Group Limited (ASX: ANZ) also posting gains. Meanwhile, Goodman Group (ASX: GMG) and Lifestyle Communities Limited (ASX: LIC) lifted the real estate sector.

Earnings moves spark large shifts

Among the most significant moves, IDP Education Limited (ASX: IEL) surged 29.7 per cent to $5.89 on a bullish profit forecast, despite being heavily shorted. Qantas Airways Limited (ASX: QAN) soared 9.1 per cent to a record high following strong earnings driven by Jetstar. Eagers Automotive Limited (ASX: APE) gained 12 per cent as electric vehicle sales propelled its half-year profit higher. On the downside, Ramsay Health Care Limited (ASX: RHC) sank 10.5 per cent on financing cost concerns, and Telix Pharmaceuticals Limited (ASX: TLX) fell 18.8 per cent due to FDA concerns about its Zircaix product. Losses were also seen in South32 Limited (ASX: S32), Macquarie Technology Group Limited (ASX: MAQ), and Medibank Private Limited (ASX: MPL).

US stocks advance as AI optimism persists

On Wall Street, the S&P 500 hit a fresh record above 6,500, while the Nasdaq 100 gained 0.6 per cent and the Dow Jones Industrial Average rose 72 points. Investor optimism was supported by strong economic data and continuing enthusiasm for artificial intelligence. NVIDIA Corporation (NASDAQ: NVDA) reported a 56 per cent jump in revenue but excluded China from its outlook, keeping its share price subdued despite analyst optimism. Other tech leaders including Broadcom Inc. (NASDAQ: AVGO), Micron Technology Inc. (NASDAQ: MU), Microsoft Corporation (NASDAQ: MSFT), Meta Platforms Inc. (NASDAQ: META), and Amazon.com Inc. (NASDAQ: AMZN) all advanced. Meanwhile, US GDP was revised up to 3.3 per cent and jobless claims fell, easing recession concerns. Earnings strength was also seen in CrowdStrike Holdings Inc. (NASDAQ: CRWD), HP Inc. (NYSE: HPQ), and Snowflake Inc. (NYSE: SNOW).