The ASX200 is expected to slide marginally this morning, with futures predicting a quarter of a per cent fall.
This follows a mixed performance in the US indexes overnight, where the Dow Jones declined by almost half a per cent, the S&P 500 by 0.15 per cent, while the Nasdaq edged slightly higher.
And on the Nasdaq, Nvidia saw a 1.7 per cent increase, while Amazon and Alphabet each gained 1.5 per cent.
For December, Bank of America reported a 10.1 per cent year-over-year increase in Apple’s App Store revenue globally, with a slightly higher growth of 10.2 per cent year-over-year specifically in China.
On the Aussie bourse today, the focus will be on BHP, Riot Tinto, and South32 due to concerns in the nickel sector.
Growing tensions between Australia and Indonesia, a major nickel producer, along with an anticipated oversupply of nickel in 2024, are causing job losses in Australia’s nickel sector.
Indonesian President Joko Widodo’s policies boosting Chinese investment in nickel production have also added pressure, leading to the halt of mining at ASX-listed Panoramic Resources (ASX:PAN). The company joins Core (ASX:CXO) in the lithium space as the latest company to stop mining in Australia as metals prices take a hit.
And the monthly CPI indicator for November is due out at 11:30 am AEDT, with analysts predicting around a 4.5 per cent year-on-year increase, slightly lower than October. TD Securities cites lower fuel prices and a high base effect as contributing factors.
The Aussie dollar is currently buying 67 US cents. In commodities, iron ore has dipped to $140.50, crude oil is up two per cent to just above $72, gold remains steady at $2027, and natural gas has risen by six per cent to $3.16.