The ASX200 is expected to lose 0.27% when the market opens today, as the US continues to debate interest rates amid sticker than expected inflation.
Economists are increasing voting on a December rate cut in the US – although some aren’t so sure there’ll be one this year at all.
US markets did recover somewhat overnight, the Nasdaq was up nearly 1.7%, and, the S&P500 by about three quarters of a per cent. The Dow Jones traded flat.
Apple, Broadcom and Nvidia each more added more than 4%. Apple announced it’s refreshing its Mac products with an AI focus.
Back home, and there’s a new listing expected on the ASX later this morning.
Far Northern Resources (ASX:FNR) will debut after raising $4.165 million with 20c shares. It has the Bridge Creek gold project in the Northern Territory, and the Empire and Rocks Reef copper-gold projects in Far North Queensland.
In other stocks to watch: AMP (ASX:AMP) is holding its Annual General Meeting today; Origin Energy (ASX:ORG) has announced it’s buying the 1.5 gigawatt Yanco Delta windfarm development in New South Wales; and, New Peak Metals (ASX:NPM) has finalised the paperwork to sell it Finland gold permits to a Canadian private company in a cash and scrip deal worth about A$2.4 million.
One Australian dollar is buying US65.4 cents.
Gold gained 1.7 per cent to be trading at a record US$2376 this morning – which is above A$3630 Australian dollars an ounce. Silver also made gains of nearly 2 per cent overnight to be just below US$28.50 an ounce.
Iron ore’s been trading around US$104 a tonne.
Brent crude slipped overnight but is still holding above $US90 a barrel, and natural gas lost ground to US$1.80 per million British thermal units.