S&P 500 Index Erases Year-to-Date Losses as U.S. Stock Rally Continues
On May 13, U.S. stocks rose on Tuesday, with the S&P 500 erasing its year-to-date losses as lower-than-expected inflation data fueled the stock market rally. The stock market's movement continued the rebound momentum of the past month, pushing the S&P 500 up by 0.1% for the year. Before Trump's announcement of "Liberation Day" tariffs on April 2, escalating trade tensions had already hurt U.S. stocks, leading investors to sell off American assets and lower their economic growth expectations, causing the index to plummet by as much as 15%. However, after Trump paused the imposition of reciprocal tariffs on most countries on April 9, traders flocked back to the stock market. Shep Perkins, an equity fund manager at Putnam Investments, said, "The main trend of the past few months was instantly reversed. The U.S.-China trade agreement is a huge positive surprise."
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On October 9, Morningstar predicted that the revenue of Australian oil and gas producer Woodside Energy (WDS.AX) will grow by over 30% by 2030, outpacing any of its international peers. Woodside Energy’s share price dropped by 0.6% on the day to 32.12 AUD, after surging 2.6% in the previous trading session. The stock is poised to end a three-week losing streak, with oil prices rising due to escalating tensions in the Middle East, and is set for a 2.8% weekly gain O/R. Morningstar expects Woodside’s revenue to increase as major new projects come online, and forecasts free cash flow to exceed 7 billion USD after 2030, reflecting a 300% rise from 2025. The report added that market sentiment remains bearish, with the current share price below its estimated fair value of 44.00 AUD. Year-to-date, Woodside’s share price has risen 36.2%, while Santos shares are up 41.3%. (For the convenience of non-English speakers, Reuters has automated the translation of its reports into several languages. Since automated translations may be inaccurate or lack required context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for the convenience of readers. Reuters accepts no liability for any loss or damage arising from your use of automated translation functions.)
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