ASX Set to Open Lower After Wall Street's Mixed Performance

The Australian share market is expected to open lower following a mixed performance observed on Wall Street. This trend comes a day after the release of inflation data, which has increased expectations for a potential interest rate cut in February.

As market sentiment fluctuates, investors should note that the US markets are showing a flat trend ahead of tomorrow's public holiday.

Later this morning, the market will look for insights from the November retail sales figures, which are anticipated to show a slight increase largely attributed to Black Friday sales.

Stay updated with live financial news and analysis from specialist business reporters.

Disclaimer: this information is not intended to serve as investment advice.

Market Overview

ASX 200 futures indicate a decline of 0.5%, currently at 8298 points. The Australian dollar remains stable at 62.08 US cents. Meanwhile, the S&P 500 is flat at 5909 points, and the Nasdaq shows a slight decrease of 0.1%, reaching 19,467 points. On the other hand, the FTSE is experiencing a minor gain of 0.1% at 8251 points.

In terms of commodities, spot gold has increased by 0.4%, now priced at $US2658 per ounce. However, Brent crude has dipped by 1.1% to $US76.19 per barrel. Iron ore remains steady, showing a slight rise of 0.1% to $US96.75 per tonne. Bitcoin is down 2.84%, currently trading at $US93,814.

The current prices reflect the market situation as of 7:15 am AEDT.

Inflation Insights and Economic Factors

The ongoing inflation issue raises questions about essential expenses. Many individuals might find it challenging to reduce costs on necessities such as health insurance, rent, and grooming services. This reality contributes to persistent inflation rates, especially in sectors where prices have surged significantly.

Good morning and welcome to today’s live markets and business update. As investors assess yesterday's interest rate data, futures point towards a lower opening for the Australian market this morning. The US markets are exhibiting a mixed behavior; while the Dow Jones and S&P 500 are stable, the tech-focused Nasdaq has slipped by 0.1%. The Australian dollar reflects a slight decrease at just above 62 US cents, and Bitcoin has also retreated after recently spiking above $100,000, settling at $94,264.

Not much is scheduled for today apart from the upcoming release of November retail sales data at 11:30 am, which we will cover live.

ASX, Inflation, Retail