🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

ASX 200 opens 0.4% lower in year's last trading session amid dip in commodities

Published 29/12/2023, 09:37 am
© Reuters
AUD/USD
-
AXJO
-
LCO
-
BTC/USD
-
TIOc1
-

Investing.com - Australian shares are expected to start 2023's final trading session on a subdued note. This prediction comes as the prices of key commodities such as iron ore, oil, and gold experienced a slight decline overnight. Despite this, American stocks managed to extend their modest rally into the midday trade.

During the early trading hours, the S&P 500 came close to its record high, falling short by merely four points. However, it later pared back its gains, finishing the day with a slight increase of 0.04%.

In the tech industry, Tesla Inc (NASDAQ:TSLA) experienced a fall of more than 3%. The electric vehicle giant is slated to release its fourth-quarter delivery data next Tuesday. On the other hand, China's Xiaomi Corp (HK:1810) revealed its debut electric vehicle, projecting an ambitious goal to be a top global manufacturer in the next two decades.

Here are the highlights from the market:

  • ASX futures ticked 0.2% higher to 7584 as of 9:40 am AEDT.
  • The Australian dollar was flat at 68.3 US cents.
  • Bitcoin, the leading cryptocurrency, dropped by 1.8%, valuing it at $US42,588.8.
  • Among New York-listed shares, BHP (ASX:BHP) Group Ltd ADR (NYSE:BHP) fell by 0.4%, Rio Tinto ADR (NYSE:RIO) by 0.3% and Atlassian Corp Plc (NASDAQ:TEAM) by 0.8%.
  • Tesla's shares took a hit, falling by 3.2%, while Apple shares (NASDAQ:AAPL) saw a minor increase of 0.2% and Amazon (NASDAQ:AMZN) shares rose by 0.03%.
  • Spot gold decreased by 0.3% to $US2072.25 per ounce as of 1.49pm in New York.
  • Brent crude oil experienced a decline, falling by 1.4% to $US78.50 a barrel.
  • Iron ore prices also fell, decreasing by 1.8% to $US138.70 a tonne.
  • The 10-year yield for the US stood at 3.96%, Australia at 3.89%, and Germany at 1.94%.

In terms of market sentiment, bullish sentiment among individual US investors slightly eased over the past week, although it remains considerably high.

Looking ahead, November's local private sector credit data is set to be released at 11.30 am. Overseas, the final current account for China's third quarter and the US December MNI Chicago PMI will also be closely monitored.

Upgrade your decision-making with InvestingPro+! Use discount code “INVPRODEAL” and receive an additional 10% off the InvestingPro+ bi-yearly subscription. Click here! and don't forget the discount code.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.