AU Morning Wrap | ASX 200 opens higher on the first trading day of 2025, led by miners

Moomoo News AU wrote a column · Jan 2 08:18

G'day, mooers! Check out the latest news on today's stock market!

• The U.S. market major indexes close slightly lower on the last day of 2024 but still gain for the year. Bitcoin rallies.

• Australian stocks end two consecutive days of losses on the first trading day of 2025.

• Stocks to watch: LLC, SSR, etc.

AU Morning Wrap | ASX 200 opens higher on the first trading day of 2025, led by miners

Wall Street Summary

At the close, U.S. stock indices showed minor declines with the $S&P 500 Index (.SPX.US)$ down 0.43%, the $Dow Jones Industrial Average (.DJI.US)$ down 0.07%, and the $Nasdaq Composite Index (.IXIC.US)$ down 0.9%. For the year, the Nasdaq Composite led with a 29% increase, followed by the S&P 500 with a 23% rise, and the Dow Jones with an almost 13% gain.

AU Market Watch

The seasonally adjusted S&P Global Australia Manufacturing PMI fell to 47.8 in December from 49.4 in November. In December, Australian house prices experienced their first monthly drop in nearly two years; however, relief for the market seems imminent as speculation increases that the Reserve Bank of Australia may begin lowering interest rates as early as February.

$S&P/ASX 200 (.XJO.AU)$ increased slightly by 0.1% to 8167.80 points, surprising traders by not experiencing a third day of losses. The rally benefits from gains in the mineral sector. On the first trading day of 2025, Australian stocks started positively, breaking a two-day decline despite a poor global market performance.

Crypto

As of latest data, $比特币(BTC.CC)$ is priced at $94,514.03, up 1.12% in the past 24 hours, while $以太坊(ETH.CC)$ is priced at $3,350.07, up 0.51% in the past 24 hours.

Stocks to Watch

$Lendlease Group (LLC.AU)$ has agreed to sell its UK construction business to Atlas Holdings for $44 million.

$SSR Mining Inc (SSR.AU)$ has reached a significant production mark, extracting 5 million ounces of gold from its Marigold mine.

$Retail Food Group Ltd (RFG.AU)$ settled its A$2.7 million acquisition of boutique coffee franchise Cibo Espresso from Retail Zoo, according to a Thursday filing with the Australian bourse.

Economic calendar (AEDT)

No major economic announcements.

Source: Dow Jones Newswires, AFR

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