Global Markets Report - 12 December

ASX set to open higher, after Alphabet and Tesla led US stocks higher.

12 December 2024

Australia

Australian shares are set to open higher, after Alphabet and Tesla led US stocks higher.

ASX futures were up 0.45% or 38 points as of 8:30am on Thursday, suggesting a higher open.

The US consumer price index rose as expected in November, helping investors solidify bets around another rate cut next week and sending the Nasdaq Composite and S&P 500 higher.

Google parent Alphabet gained 5.5% after opening access to the newest version of its AI technology which can generate text, images and audio from a single application.

Tesla shares rose 5.9% to a fresh high, extending its winning streak to six sessions.

Lawmakers introduced legislation to break up pharmacy-benefit managers, weighing on insurance companies including UnitedHealth, which fell 5.6%.

DJIA fell 99 points, or 0.2%, to 44,148, while the S&P 500 gained 0.8% to 6,084 and the Nasdaq climbed 1.8% to 20,034.

In commodity markets, Brent crude oil was up 1.87% to US$73.54 a barrel, while gold was up 0.88% to US$2,718.02.

The Australian dollar was at 63.68 US cents, down from its previous close of 63.77.

Asia

Chinese shares closed higher. The benchmark Shanghai Composite Index lifted 0.3% to 3,432.49, and the Shenzhen Composite Index added 0.8% to 2,090.92.

Hong Kong shares ended lower. The benchmark Hang Seng Index fell 0.8% to 20,155.05.

Japanese shares closed flat. The Nikkei Stock Average was unchanged at 39,372.23.

India shares ended flat. The BSE SENSEX was unchanged at 81,526.14.

Europe

Stocks in the U.K. finished higher. The FTSE 100 Index added 0.3% to 8,301.62.

In Europe, shares closed higher. Germany's DAX added 0.3% to 20,399.16, and France's CAC 40 added 0.4% to 7,423.4.

North America

U.S. stocks ended mixed. The DJIA slipped 0.2% to 44,148.56, the S&P 500 gained 0.8% to 6,084.19, and the Nasdaq added 1.8% to 20,034.89.

Among S&P 500 companies, the top three gainers were NVIDIA Corp NVDA surging 3.14%, Apple Inc AAPL jumped -0.52%, and Amazon.com Inc AMZN lifted 1.84%.

The biggest decliners were NVIDIA Corp NVDA which dropped 3.14%, Apple Inc AAPL fell 0.52%, and Amazon.com Inc AMZN lost 1.84%.

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AUTHOR

Morningstar
Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 17 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets.

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