The ASX is trading relatively flat this morning, slightly up at 8,208 points. Trading will close early at 2:10 PM AEDT today and will be closed for Christmas, Boxing Day and New Year’s Day.
As of now, sectors are mixed. Health Care leads with a 0.86% gain, followed by Real Estate at 0.63%. Industrials is the weakest performer, down 0.3%.
Overnight, US equities showed gains, with the Nasdaq rising 0.98%, buoyed by semiconductor giants NVIDIA, Broadcom and AMD, which gained 3.7-7.5%. The S&P 500 rose 0.73%, and the Dow Jones added 0.16%.
In commodities, the Australian dollar was steady at 62.48 US cents. Gold declined 0.73% to US$2,625.7/oz, and iron ore held at US$103.84/tonne.
Economists are watching the Reserve Bank of Australia’s December meeting minutes, expected at 11:30 AM AEDT, for insights into 2025 monetary policy.
Looking ahead, US economic data, including unemployment claims, will be released late Friday, potentially influencing market sentiment. Geopolitical tensions, including a US investigation into China’s chip industry, are also being monitored. Thin trading volumes over the holidays may lead to increased volatility.
The Proactive team wishes all viewers a Merry Christmas and Happy New Year, with updates resuming in early 2025.