The latest data on jobless claims in the US has done little to change the minds of investors on where interest rates are headed next.
The Australian sharemarket is tipped to open stronger after a quiet post-holiday session on Wall Street, where the latest data on jobless claims did little to change the minds of investors on where interest rates are headed next.
Overnight, US stocks struggled to gain traction after a rally that sent the S&P 500 to its best Christmas Eve performance since 1974, according to data compiled by Bespoke Investment Group. With major European markets closed, volume in the US equity gauge was well below the average of the past month.Credit:The S&P 500 hovered near 6,043 points, while the Nasdaq edged up 0.1 per cent to 20,055 points. The Dow Jones Industrial Average was little changed.
“Eco data is a non-event until we move into the new year,” said Kenny Polcari at SlateStone Wealth. “Christmas is behind us, but the New Year is ahead of us. Volumes will remain muted.” “If the S&P 500 does make new highs, there are going to be massive divergences in breadth and momentum, which is another red flag as we get into January,” he noted.The yield on 10-year Treasuries dropped one basis point to 4.58 per cent. The Bloomberg Dollar Spot Index rose 0.1 per cent. Bitcoin sank as traders reduced their risk exposure after a record-breaking run.
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