Australian shares are poised for a decline, tracking Wall Street's performance as investors anticipate the release of crucial US December inflation data. The market awaits insights into the Federal Reserve's rate-cutting cycle.
Australian shares are poised to decline, mirroring fluctuations on Wall Street as investors eagerly await the release of crucial US December inflation data early on Thursday AEDT. ASX futures dipped 11 points, or 0.1 percent, near 7am AEDT. On Wall Street , the S&P 500 Index experienced a 0.3 percent decrease in afternoon trading. Thursday's US CPI data will shed further light on the trajectory of the Federal Reserve 's rate-cutting cycle. Markets are anticipating a 0.
4 percent month-over-month rise in the headline CPI for December. 'We anticipate a persistent trend of disinflation, albeit at a more gradual pace than previously observed,' stated LPL Financial chief economist Jeffrey Roach. 'This deceleration in progress reflects the intricate economic landscape we currently face.'In commodity markets, iron ore surged 1.9 percent overnight to $US100.88 a tonne, extending Tuesday's rally. Conversely, Brent crude declined 1.2 percent to trade at $US80.06 a barrel. Turning to company news, Macquarie Asset Management-managed funds will inject $US900 million ($1.5 billion) to support Applied Digital in completing the construction of an artificial intelligence data center in North Dakota. Star Entertainment's prominent Macau-based investor has amplified his stake in the company for the second time this week, bringing his total ownership to nearly 7 percent of the struggling casino operator. Finally, Tower Ltd will become ex-dividend on Wednesday.
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