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Morning Research Notes - 24.02.25
US markets closed with significant losses on Friday as weaker-than-expected services and consumer sentiment data heightened worries about the U.S. economy, leading to declines across major indices. Major commodities experienced a bullish run on Thursday: Gold rose by 0.1% to $US2,937 an ounce, Brent oil increased by 0.6% to $US76.52 a barrel and Iron ore gained 1.7% to close at $US107.55 a tonne.
On Friday, Wall Street ended the week on a down note, with the S&P 500 dropping 1.7%, the Dow Jones Industrial Average falling 748 points (1.7%), and the Nasdaq Composite sliding 2.2%. The declines were driven by weaker-than-expected services and consumer sentiment data, raising concerns about the economy. The University of Michigan’s sentiment index showed U.S. consumer sentiment fell to 64.7 in February from 71.1 in January, missing forecasts of 64.8. Rivian fell over 4% due to a soft outlook, while Block slumped 17.7% after disappointing Q4 results. UnitedHealth Group shares dropped 7.3% amid a fraud investigation report, whereas Celsius Holdings surged nearly 28% on strong earnings and an acquisition announcement.
The Australian stock market closed lower on Thursday, with the ASX 200 declining by 0.32%. Major sectors such as Financials (-1.28%) and Information Technology (-0.47%) closed in the red. In contrast, Materials (1.56%), Healthcare (0.04%), and Utilities (0.48%) managed to notch gains. The commodities sector had a bearish day, with Aluminium, Copper, Zinc, and Nickel all falling.
Chart of the day
McKinsey examined a “Well-being 100” portfolio, made up of 100 companies with the highest scores for employee well-being on the job-seeking website Indeed. They explain that this portfolio outperformed major market indexes, including the S&P 500, Nasdaq composite, and Russell 3000, between 2021 and 2024.
Source: Mckinsey
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