Closing Bell

Bitcoin’s notorious volatility strikes again, plummeting towards $US40,000 in a major sell-off, sparking concerns in the broader crypto market.

Santos and Woodside Energy confirm merger discussions, potentially creating an $80 billion energy powerhouse, sparking significant investor interest and market speculation.

Australia’s GDP grows just 0.2% in Q3, sparking market rally with ASX up 1.5% as traders bet on imminent RBA rate cut amid economic slowdown.”

RBA holds rates at 4.35% in year-end decision, aiming to balance inflation control with economic growth amid global uncertainties and domestic market trends.

Bitcoin surges past $40,000 as Fed’s Powell hints at possible pause in rate hikes, fueling optimism in crypto markets for upcoming US ETF approvals.

Today’s market saw tech stocks dip amidst global economic shifts, with key sectors responding variably to mixed manufacturing data and OPEC+ production cuts.

The ASX slightly rose, driven by financial sector gains, while Origin Energy declined after rejecting a takeover bid. Oil prices increased before the OPEC+ meeting.

Australia’s CPI drops to 4.9% in October, lower than expected, sparking a rally in interest rate-sensitive stocks and stabilizing the Australian dollar.

The ASX surged 0.7%, driven by real estate and gold sectors, despite a 0.2% drop in October’s retail sales reflecting consumer spending pressures.

The mining sector witnessed a notable decline today, with key players like Mineral Resources and IGO Ltd experiencing significant drops amid market uncertainties.

Australian shares gained, led by energy sector recovery and anticipation of the OPEC+ meeting. Origin Energy’s takeover bid remains a key market highlight.

Excerpt: “ASX faced a downturn led by commodity stocks. Nick Scali Ltd and Nickel Industries Ltd experienced significant declines, reflecting broader market volatility.