ASX to open lower on first 2024 trading day
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The news: The first Australian sharemarket trading day of 2024 is set for a downbeat start after the public holiday break.
The numbers: The ASX 200 futures index was pointing lower by 21 points to 7618 points early on Tuesday. The Aussie dollar was performing a little better and buying 68 US cents. The lead from the US was from last week as traders there enjoy the public holiday break.
The last Wall Street trading day of 2023 resulted in the three major indices closing lower. The Dow Jones Industrial Average fell 20.56 points, or 0.05%, to 37,689.54. The S&P 500 lost 13.52 points, or 0.28%, to 4,769.83. The Nasdaq Composite dropped 83.78 points, or 0.56%, to 15,011.35.
The context: Low trading volumes are likely on the Australian market while many investors remain on holidays. On the macro economic front, the war in Gaza could be entering a new phase after Israel pulled back some troops and tanks. International allies have called for restraint. However, Israel says the war has many months to go.
