US EditionPublished • loading... • Updated
Market Ends Flat Despite Venezuela Unrest
The ASX is poised for a 0.13% gain as investor optimism supports energy and bank sectors despite geopolitical tensions in Venezuela impacting global markets.
- On Monday, the Australian sharemarket is set to open higher as futures point upward, with energy and uranium stocks leading early gains.
- After clawing back losses, the ASX heads into Monday with momentum, expected to gain 0.13 per cent as optimism for energy companies and banks supports the start to the year.
- Commodity moves underpinned sector leadership in early trade as US crude fell 0.17 per cent to $US57.32 a barrel and Brent slipped 0.16 per cent to $US60.75, while uranium and energy-linked stocks led gains.
- Investors will focus on upcoming earnings and jobs data, with JPMorgan results due on January 13 and US jobs data that could jolt markets after Federal Reserve officials’ divided December meeting.
- December exports from Venezuela fell to around 500,000 barrels per day and OPEC+ kept output unchanged, leaving crude oil markets well-stocked.
Insights by Ground AI
12 Articles
12 Articles
Closing Bell: Commodity rally props up ASX as info tech slides
ASX up just 0.01% with nine sectors lower Resources fuels majority of momentum, adding 1.49% Commodity prices on the rise, lifting in face of geopolitical chaos Broad rise in commodity prices The ASX 200 sputtered and wobbled through its first day of the trading week, hovering near neutral all day to end at +0.01%. Breadth fell a little to the weaker side, with 105 stocks falling and 81 rising. Just two sectors rose – and utilities barely deser…
Coverage Details
Total News Sources12
Leaning Left2Leaning Right3Center2Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 29%
C 28%
R 43%
Factuality
To view factuality data please Upgrade to Premium
