The stock markets across Australia and the United States experienced a rather historical day amidst the eruption of quarterly earnings reports from companies across the world.
The S&P/ASX 200 Index closed the market trading session at a record high of 6382.1 on April 24th, 2019, climbing 1% by 62.7 significant points.
The trading levels achieved during the day have not been witnessed in about 10 years, thus marking a crucial day for investors. Meanwhile, the weak inflation data released on the same day was perceived favourable by the market players as it supported a rate cut possibility by the Reserve Bank of Australia to further stimulate the economy.
In addition, the Australian dollar (AUD) consequently reported a weakening trend, following the release of quarterly CPI inflation data that came in at no change (0.00%) versus expectations of +0.2% for the March 2019 quarter.
On the Australian Securities Exchange (ASX), the intra-day surge was fuelled by the healthcare sector that climbed 2.33% to 30,635.9. This was accompanied by the Information Technology sector stocks rising 2.17% by 29.6 points to 1,365.7; the Consumer Staples also climbing up 1.43% by 164.5 points and the heavy weight financial stocks edging up 1.26%, all together balanced, over and above, the gloomy day for the energy and mining shares.
The metals and mining sector along with the energy sector, both dived 0.83% and 0.02% respectively.
The investors may take note as the gainers for the day include Bellamy’s Australia Limited (ASX: BAL) which rose 15.59% to AUD 11.12 with a positive YTD return of 26.75% following the receipt of approvals from China’s new market regulator, the State Administration for Market Regulation (SAMR) for a couple of things including a new Bellamy’s branded formulation-series to be produced at the ViPlus Dairy facility in Toora, Victoria.
The losers include New Hope Corporation down 4.51% (ASX: NHC), the mining stock Iluka Resources (ASX: ILU) also declined 3.88% followed by a 3.54% drop in the share price of Independence Group (ASX: IGO) following its announcement concerning the commencement of reverse circulation drilling at the Plumridge Nickel Project.
Meanwhile, overseas in the United Sates, the technology sector focussed NASDAQ Composite Index also reached a historical high as it closed at 8,120.82, up 105.55 points for the day with over 2.15 billion shares traded.
Also, the Dow Jones index closed up 55% higher for the day by a total of 145.34 points to 26,656.39. Of the constituents, Procter & Gamble Company recorded the largest percent change down, i.e., 2.69% while United Technologies Corporation moved up with the highest gain of 2.27%.
The NASDAQ 100 index settled the session 1.26% higher for the day as well climbing up by a total of 97.22 points to the current value of 7,810.71. Of the member stocks, Walgreens Boots Alliance, Inc. recorded the largest percent change down by 1.63% accompanied by the highest gain of 14.23% in the share price of Hasbro, Inc.
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