Investing.com - Australian shares fell 0.3% at Wednesday's open, mirroring a somewhat subdued performance in New York as investors digested major earnings results, the Federal Reserve's policy statement, and additional data on the US labour market.
Wednesday's local investor focus will be on the release of fresh consumer price data at 11.30am AEDT.
After the closing bell in New York, Microsoft Corporation (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) Inc (NASDAQ:GOOG) announced their earnings reports. Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), and Meta Platforms Inc (NASDAQ:META) are expected to disclose their results early Friday morning, along with Atlassian.
Federal Reserve policymakers are set to release a statement at 6am Thursday, followed by a press conference by chairman Jerome Powell 30 minutes later.
Apple led the NYSE Fang Index lower following a report by influential technology analyst Ming-Chi Kuo, predicting a decrease in iPhone demand in 2024, particularly a significant drop in weekly shipments in China.
United Parcel Service Inc (NYSE:UPS) shares dropped following the announcement of revenue targets below analysts' expectations. The company also plans to lay off 12,000 employees or 2.4% of its global workforce to save $US1 billion and hinted at the potential sale of its Coyote truckload brokerage business.
Saudi Aramco (TADAWUL:2222) declared it would maintain its maximum sustainable capacity at 12 million barrels a day, suspending a plan to increase it by 1 million barrels a day. The oil giant will provide an update on its capital spending guidance when it announces its full-year 2023 results in March.
Credit Corp Group Ltd (ASX:CCP) and IGO Ltd (ASX:IGO) will issue earnings while Aurelia Metals (ASX:AMI)s, Origin Energy Ltd (ASX:ORG), Liontown Resources Ltd (ASX:LTR), Pointsbet Holdings Ltd (ASX:PBH), Resolute Mining Ltd (ASX:RSG), and Syrah Resources Ltd (ASX:SYR) will provide sales updates.
ASX 200 Futures eased 0.1% to 7560.58.
US bond yields increased after the latest US jobs openings report unexpectedly rose to a three-month high, indicating ongoing strength. The Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed openings increased to 9 million, surpassing all forecasts.
The International Monetary Fund projected that the global economy is set for a soft landing, powered by the strength of the US economy and the relative resilience of China's economy despite its challenges.
In Europe, shares closed slightly higher after reaching fresh two-year highs on Tuesday, with investors finding reassurance in positive corporate updates. Banks were among the top advancing sectors, with BBVA (BME:BBVA) seeing a 6.2% increase after the Spanish lender's fourth-quarter net profit jumped 32%.