US Markets
The S&P 500 fell 0.5% to 5,983.25 on Monday, extending Friday’s losses. The Nasdaq Composite dropped 1.21% to 19,286.92, while the Dow Jones eked out a 0.08% gain to 43,461.21.
Tech stocks weighed on the market, with Palantir plunging 10.5% and Microsoft slipping 1% after reports of spending cuts on data centres. Nvidia fell 3%, contributing to the Nasdaq’s slide into negative territory for 2025.
Investor sentiment remained cautious as President Trump reaffirmed plans to proceed with tariffs on Canada and Mexico after the current postponement ends next week.
This week brings key updates on corporate earnings and the economy. Home Depot and Lowe’s report on Tuesday and Wednesday, offering insight into U.S. consumer trends. Nvidia’s earnings on Wednesday evening could have an even greater impact, given its dominance in the AI-driven chip sector.
Australian Markets
Australian shares are expected to open lower. The SPI 200 futures point to a 0.8% drop at the open.
Company News
Domino’s Pizza Enterprises posted a $22.2 million loss for the six months to December 31, hit by restructuring costs from the closure of 205 stores.
Amplitude Energy, formerly Cooper Energy, returned to profit with a $7.57 million gain in the first half, reversing a $90.8 million loss a year earlier.
Mercury NZ swung to a first-half loss, as low hydro inflows reduced electricity generation and weighed on earnings.
Today’s scheduled earnings reports include Nine Entertainment, Platinum Asset Management, G8 Education, and Woodside Energy.
