Originally published by Rivkin
The trading week ended with Australian shares finishing relatively flat from Monday to Friday – the Aussie market is expected to begin lower at the open with SPI futures down 37 points following tumbling oil and iron ore prices. Oil plunged more than 7 per cent during NY’s trading session on Friday reaching it’s lowest levels in more than a year. The Dow lost another 178 points with the likes of Apple (NASDAQ:AAPL), Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) contributing to the losses. Apple has now lost a quarter of its value after peaking in early October reaching the $US1 trillion mark.
Investors turn to the G20 summit in hopes of positive news that may change current market sentiment in the form of a Santa rally in December – at the moment it seems investors are still quite cautious as to what might be a potential catalyst with the likes of Brexit uncertainty, questionable economic growth and the current Italian budget saga.