| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 43828.06 | -86.06 | -0.20% |
| S&P 500 | 6051.09 | -0.16 | 0.00% |
| Nasdaq | 19926.72 | 23.88 | 0.12% |
| VIX | 13.81 | -0.11 | -0.79% |
| Gold | 2665.90 | -9.90 | -0.37% |
| Oil | 71.09 | -0.20 | -0.28% |
US MARKET
Wall Street’s holiday rally has stalled as concerns grow over President-elect Donald Trump’s tariff plans and fading hopes for meaningful stimulus from China. Futures indicate a muted open as inflation fears linked to tariffs weigh on the outlook for Federal Reserve rate cuts, raising caution among investors.
Commodity markets add to the uncertainty, with iron ore prices extending losses amid the lack of promised economic support from China’s Central Economic Work Conference. Weakness in China’s recovery continues to cloud global growth prospects.
Corporate moves remain a focal point. Affinity Equity Partners secured financing for its $965 million acquisition of Lumus Imaging, highlighting sustained M&A activity. Leadership transitions also make headlines as Kina Securities names Ivan Vidovich as its new CEO, while VGI Partners struggles with November losses after short positions, including Tesla, proved costly in the Trump rally.
Regulatory pressure mounts as HSBC faces scrutiny over handling fraud cases, with U.S. regulators investigating delays in addressing suspicious activities that led to significant customer losses.
As geopolitical and economic uncertainties persist, investors brace for a volatile week dominated by tariff debates, global recovery fears, and continued market recalibration.
LOCAL MARKET
The Australian sharemarket’s rally has come to a halt as concerns grow over President-elect Donald Trump’s tariff plans and fading hopes for substantial stimulus from China. ASX futures point to a 0.5% decline after the market closed its worst week since August.
Fears that Trump’s proposed tariffs on major trade partners, including China, could stoke inflation are raising doubts about further monetary easing from global central banks, including the Federal Reserve. These concerns, coupled with falling commodity prices, are weighing heavily on sentiment.
Iron ore prices dropped another 1.2% over the weekend, extending Friday’s losses. The decline follows China’s Central Economic Work Conference, which failed to deliver the anticipated stimulus measures to boost the country’s sluggish economic recovery.
On the corporate front, DigiCo Infrastructure REIT remains in focus after a lackluster ASX debut, with shares sliding below the IPO price. Star Entertainment also faces scrutiny following the resignation of its Gold Coast CEO, the second such departure in seven months.
In M&A news, Affinity Equity Partners finalized financing for its $965 million acquisition of Healius’ Lumus Imaging business. Meanwhile, Tartana Minerals raised $900,000 via convertible notes, using the funds to clear debt.
Looking ahead, market participants are preparing for another volatile week, with geopolitical concerns, commodity price movements, and economic updates likely to dominate trading activity.