Live Updates: ASX Set to Open Lower Amidst Mixed Wall Street Session and Anticipated Retail Sales Rise

The Australian share market is anticipated to open lower today, following a mixed session on Wall Street. This comes a day after recent inflation data stirred expectations for a potential interest rate cut in February.

As traders prepare for today’s opening, Wall Street remains relatively flat, influenced by the upcoming public holiday in the United States. The focus now shifts to the Australian market as investors assess upcoming economic indicators.

Later this morning, the latest retail sales figures for November will be released. Analysts forecast a modest increase in sales, largely attributed to the impact of Black Friday promotions.

Stay tuned for continuous updates and insights related to the day's financial news from our team of expert business reporters.

Note: This blog is not intended as investment advice.

Market Overview

The ASX 200 futures are currently indicating a decrease of 0.5%, settling at around 8298 points. In currency markets, the Australian dollar remains steady at 62.08 US cents.

Current Financial Data

Here’s a snapshot of key market indicators as of this morning:

• ASX 200 futures: -0.5% to 8298 points
• Australian dollar: Flat at 62.08 US cents
• S&P 500: Flat at 5909 points
• Nasdaq: -0.1% to 19,467 points
• FTSE: +0.1% to 8251 points
• Spot gold: +0.4% to $US2658/ounce
• Brent crude: -1.1% to $US76.19/barrel
• Iron ore: +0.1% to $US96.75/tonne
• Bitcoin: -2.84% to $US93,814

These prices reflect market conditions at 7:15 AM AEDT.

Understanding Inflation Dynamics

Investors are grappling with inflation trends, particularly focusing on essentials that continue to increase in price. Costs associated with health insurance, rent, and basic services have remained elevated, contributing to persistent inflationary pressures.

Morning Briefing

Good morning and welcome to the live markets and business blog. Today, I will guide you through the developments as the markets open. Investors are reflecting on the implications of yesterday's interest rate data for potential future cuts.

Currently, U.S. markets are showing minimal movement, with the Dow Jones and S&P 500 remaining stable, while the tech-heavy Nasdaq is slightly down by 0.1%.

The Australian dollar's value stands just above 62 US cents, reflecting ongoing market trends. Meanwhile, Bitcoin's value has decreased slightly, currently trading at $94,264 after briefly nearing the $100,000 mark.

Although there are not many major financial events scheduled today, the release of the November retail sales report at 11:30 AM is highly anticipated, and we will provide live updates as the results come in.

ASX, Retail, Inflation