The ASX200 is set to open 0.94% lower today, following US stocks down after their post-election rally appeared to stall, and attention turned to upcoming inflation data, in particular the Consumer Price Index.
US Stocks pulled back on Tuesday, with the S&P 500 dropping 0.3%, the Dow Jones Industrial Average falling 382 points, and the Nasdaq moving down slightly by 0.1%. Companies in focus included Tesla – which fell 6.1%, and Trump Media & Technology Group – which was down 8.8%, while Nvidia lifted 2.1%, Microsoft gained 1.3% and Alphabet rose 0.7%.
On the ASX, Commonwealth Bank of Australia (ASX:CBA) has reported a net profit of around $2.5 billion for the first quarter of the 2025 fiscal year, with chief executive officer Matt Comyn citing concerns about a slowly moderating inflation trend, uncertainty caused by global geopolitical tensions, and slow growth in the Australian economy.
James Hardie Industries Plc (ASX:JHX) said its profits had fallen 23% to $238.7 million during the half year to 30 September, saying that although gains were being made in Australia and New Zealand, market demand had been challenged in the Asia Pacific region generally, with an even more difficult environment across European markets.
To commodities – all in US $ here: Iron ore is $103.10 on the Singapore Exchange, gold’s trading at $2597, Brent crude is $71.72 & natural gas is $2.92 a gigajoule.
One Aussie dollar is buying 65 US cents.
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