S&P 500 Gains 0.72% as Global Markets Rally

The S&P 500 rose 0.72% to 7,537.43, trading higher as Wellington investors weighed the latest moves across global markets.

How the major markets moved

On Wall Street, the S&P 500 rose 0.72% to 7,537.43, the Dow Jones rose 1.44% to 53,055.91 and the Nasdaq rose 0.31% to 26,121.16. Wall Street’s direction typically sets the tone for how Wellington portfolios open next session.

Commodities and safe-haven demand

Gold rose 1.22% to US$4,176 an ounce and silver rose 2.32% to US$62.48, while WTI crude was little changed to US$68.72 a barrel, a move that feeds through to petrol prices and local input costs.

Currencies and crypto

EUR/USD rose 0.18% to 1.14, shifting the maths for Wellington importers, travellers and anyone with offshore holdings. Bitcoin rose 0.35% to US$63,770.74.

What it means locally

For Wellington readers, the day’s moves flow through to superannuation and retirement balances, which are heavily exposed to both local and global equities, a reminder that a diversified portfolio rides out single-session swings better than a concentrated one.