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It was a tame night on Wall Street with mixed upside in tech and financials first and foremost, but not the kind of gains that one typically sees when tech truly gets going.
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This is likely because the market is hesitant ahead of the upcoming US Fed decision in December; given that Wall Street broadly this week regained all losses it incurred in the tumultuous Week 47 that was – triggered by US jobs data scares – it’s not hard to see why, now thinking that’s in the past, traders moved in to take profits.
After all, Fridays are always risky: why not secure some play money for the weekend ahead of the last day of the week? Or at least, that’s how this finance journalist sees it. And hopefully that doesn’t give too much away.
ASX futures were down -0.40% overnight as the S&P500 had a positive but humble day of intraday gains around +0.7%. It’s possible that local calculus reflects consensus underpinning concern stemming from the recent hotter-than-expected CPI read from the ABS earlier this week.
Looking at commodities:
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