Australian Share Market Expected to Open Lower Amid Mixed Wall Street Session

The Australian share market is predicted to start the day on a lower note, following a mixed session in the US markets. This comes a day after inflation data began to spark expectations for an interest rate cut in February.

As the market prepares for the day, US indices are showing little movement, with many investors waiting for a public holiday tomorrow.

Today's focus will be on the November retail sales figures, which are anticipated to show a modest increase thanks to Black Friday shopping events.

Market Overview

Currently, ASX 200 futures are trading down by 0.5%, standing at 8298 points. The Australian dollar remains steady at 62.08 US cents, with the S&P 500 index showing flat movement at 5909 points and the Nasdaq slightly lower by 0.1% at 19,467 points.

The Brent crude oil price has dipped by 1.1% to $US76.19 per barrel, while iron ore has seen a marginal rise of 0.1% to $US96.75 per tonne. Gold is up by 0.4%, trading at $US2658 an ounce. Bitcoin has dropped 2.84% to $US93,814 thereafter briefly crossing the $100,000 mark.

What is Influencing Inflation?

Inflation continues to be a concern for many consumers, especially in the face of essential costs like health insurance, rent, and personal care services. These sectors have experienced significant price increases, contributing to persistent inflation.

Today's release of the retail sales data at 11:30 AM is eagerly awaited and will provide further insight into consumer spending patterns during November.

Stay updated on the day's financial news through our live blog tailored for the latest insights from market analysts.

markets, economy, sales