US Stocks turned lower on overnight as concerns over US inflation data and China’s regulators opening a “monopoly” investigation into Nvidia driving chip stocks lower.
The S&P/ASX 200 Index dropped 0.3% on Monday, declining 21.9 points to 8399 by mid afternoon, as energy and mining stocks led the downturn amid softer commodity prices. The Australian dollar hovered near a one-year low, briefly dipping below US64¢.
Stocks rose Friday night, as the employment data seemed to make investors more confident in the Goldilocks scenario, and Lululemon surged 16% on full year forecast
Australian shares retreated on Friday, tracking Wall Street’s decline as investors exercised caution ahead of a critical US jobs report that may influence the Federal Reserve’s policy stance. The S&P/ASX 200 dropped 0.5% to 8435.2 by early afternoon, positioning the index for a flat weekly close despite hitting a record high of 8514.5 on Tuesday.
Bitcoin surpassed $100,000, reaching $103,649, fueled by optimism over U.S. President-elect Donald Trump’s pro-crypto policies.
Stocks were little changed on overnight, with technology shares easing after recent sharp gains and investors bracing for Friday’s jobs report, as Bitcoin broker $100k for the first time in history
The Australian sharemarket edged higher on Thursday, driven by gains in technology shares following a strong Wall Street performance. By mid afternoon, the S&P/ASX 200 Index rose 0.2% (19.1 points) to 8481.7, with the Australian dollar trading at US64.38¢. The information technology sector led the gains, with WiseTech and TechnologyOne each up 3.2%.
Tech drove the market to its 56th record high for 2024, as AI leaders, Salesforce reported higher uptake of AI agents, giving investors confidence that companies will start to monetize the new technology
Australian shares retreated Wednesday afternoon, with the S&P/ASX 200 Index declining 0.5% (38 points) to 8457.2 by late afternoon, following a record close on Tuesday and mixed Wall Street performance.
The Nasdaq and S&P500 just scraped in record highs, ahead of a speech from Federal Reserve Chairman Jerome Powell and monthly jobs data due later this week.
Wisetech Global Annual Investor Day WTC:ASX
The Australian sharemarket hit a record high for the third time in a week on Tuesday, with the S&P/ASX 200 rising 0.7% to close at 8505.1, marking a year-to-date gain of over 11%. Gains were broad-based, with 10 of 11 sectors advancing, led by health, while utilities lagged due to declines in AGL and Origin.
