AU Morning Wrap: ASX Falls as Wall Street Extends Rout; Domain Down 10%

Wall Street Summary
US stocks dropped for a fourth session as traders assessed the Federal Reserve's path next year after central bank officials vowed to keep raising rates until they're confident inflation is coming down meaningfully.

Domain led the decliners, falling 10 per cent, after reporting a challenging second quarter with conditions deteriorating further since the real estate group's annual general meeting. REA shares fell 6 per cent on the news.

Johns Lyng group fell 9 per cent after its COO sold down 4 million shares representing 31 per cent of his stake in the property services group.

At the current price of $6.81, the sale is worth approximately $27 million.

CBA had previously pleaded guilty to 30 criminal charges of making false or misleading representations to customers when selling consumer credit insurance between 2011 and 2015, ASIC said.

It comes as shares have fallen almost 90 per cent this year to a four-and-a-half-year low of 60¢.

BHP said the one-week extension would allow for "finalisation and agreement of the binding scheme implementation deed".

New listings declined 16 per cent in October and 22 per cent in November, Domain said in a market update on Tuesday. That followed 4 per cent growth in FY23 Q1.

Ex-dividend: None

Daily crude steel production among mills assessed by the China Iron & Steel Association fell 2.1% over 1-10 December compared to the prior 10-day periods, according to Mysteel

"The dip was chiefly because more steel producers conducted maintenance works due to profit losses or the expectation of shrinking demand in the low season for steel consumption." - Mysteel

• Oil is trying to bounce after falling -5.4% in the previous two sessions.

"Energy traders might be stuck in wait-and-see mode as there might not be a clear catalyst for the next major move with crude prices … Earlier oil rose after the German IFO report showed the Eurozone's largest economy might not have that bad of a recession." - Oanda senior market analyst Ed Moya

• Gold prices are under pressure after hawkish Fedspeak sent bond yields higher.

"Gold prices edged lower as global bond yields surged after former Fed's Dudley told investors not to fight the Fed." - Moya