The ASX 200 is expected to open slightly higher this morning following a positive Friday close on Wall Street, where bargain hunters spurred a rally after a recent market decline. Despite the end-of-week gains, both Wall Street and European markets showed losses for the week as a whole. The positive sentiment on Wall Street was driven by hopes for stronger economic data and the return of major investors next week.
S&P 500: +1.3% at 5,942 pointsSpot gold: -0.7% to $US2,639/ounceBitcoin: -0.2% to $US98,056Sun 5 Jan 2025 at 8:52pmThe ASX 200 is eyeing a modest gain this morning after Wall Street broke out of its festive season torpor on Friday., but overall, they lost ground over the week.The US buying was spurred on by some bargain hunters spotting value in the so-called Santa Claus Rally that never arrived.
"Obviously the past week-and-a-half has been disappointing for the bulls, but volume has been light and there hasn't been a lot of news." The news out of China on Friday that its central bank would shift ground on monetary policy by increasing issuance of long-dated bonds, and perhaps cutting official rates, also supported the likes of copper and iron ore prices,44m agoGood morning and welcome to another week on the ABC markets and finance blog.
ASX 200 Wall Street Market Rally Santa Claus Rally Economic Data
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX 200 Dips on Wall Street Losses, Aussie Dollar WeakenedThe ASX 200 opened lower following similar losses on Wall Street, while the Aussie dollar weakened after a Treasury bond buy-up lowered yields. SuperRatings reported strong super fund performance for 2024. Miners slipped on lower copper prices, and tech stocks are projected to be robust in 2025 driven by the AI Revolution.
Read more »
Live updates: ASX to open higher after Wall Street rallies, ASX trading glitch fixedAfter last week's 3 per cent fall, the ASX looks likely to open higher on the back of a late rally on Wall Street. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Read more »
ASX set to slide, Wall Street hits more recordsUS stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation.
Read more »
ASX set to slide, Wall Street hits more recordsUS stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation.
Read more »
ASX set to slide, Wall Street hits more recordsUS stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation.
Read more »
ASX set to rise, Nvidia weighs on Wall StreetA slide for market superstar Nvidia is helping to pull US stock indexes down from their records.
Read more »