AU Morning Wrap | ASX 200 rises for the fourth consecutive day boosted by consumer discretionary stocks

Moomoo News AU wrote a column · Jan 7 08:14

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

• U.S. markets climb on Monday, market holiday this Thursday, NVIDIA to announce new products.

• Consumer sentiment to improve in new year as Australian market rises continuously.

• Stocks to watch: SYR, IFL, etc.

AU Morning Wrap | ASX 200 rises for the fourth consecutive day boosted by consumer discretionary stocks

Wall Street Summary

The market experienced a rise on Monday during a shortened trading week due to a market holiday on Thursday for mourning Jimmy Carter, the former. It coincided with CES tech week, where tech stocks, including those of companies like Nvidia, attempted to capitalize on the event. Nvidia's CEO, Jensen Huang, is expected to unveil new products at the Las Vegas Industry Conference at 9 pm ET.

At the close of trading, just after 4 pm ET, the $S&P 500 Index (.SPX.US)$ rose by 0.55%, the $Dow Jones Industrial Average (.DJI.US)$slightly fell by 0.06%, and the $Nasdaq Composite Index (.IXIC.US)$ increased by 1.24%.

AU Market Watch

$S&P/ASX 200 (.XJO.AU)$ opened 0.3% higher to 8283.70 points. Australian stocks experienced their fourth consecutive day of gains on Thursday, driven by consumer discretionary shares. Traders anticipated better consumer sentiment in the new year, which contributed to the rise.

ANZ economist Madeline Dunk anticipates a positive trend in sentiment in 2025, driven by tax cuts, increasing real wages, and potential interest rate cuts, which will boost household disposable incomes.

Crypto

As of latest data, $比特币(BTC.CC)$is priced at $102,036.64, up 3.53% in the past 24 hours, while $以太坊(ETH.CC)$is priced at $3,672.86, up 0.75% in the past 24 hours.

Stocks to Watch

$Syrah Resources Ltd (SYR.AU)$ down 2.3% due to an agreement with the US government's development bank to waive A$53 million loan. This followed production disruptions at its Mozambique mine caused by civil unrest.

$Insignia Financial Ltd (IFL.AU)$ declined by 1% at the beginning of trading, following a significant increase of 14% on Monday. The rise was due to a takeover offer from CC Capital at A$4.30 per share.

$Capricorn Metals Ltd (CMM.AU)$ increased by 1.7% following the announcement of its highest quarterly gold production in 2024 during the December quarter.

Economic calendar (AEDT)

10:30 am: Australia Building Permits (Nov)

8:00 pm: Eurozone Inflation Rate (Dec)

8:00 pm: Eurozone Unemployment Rate (Nov)

11:30 pm: Canada Balance of Trade (Nov)

1:00 am: US ISM Services PMI (Dec)

1:00 am: US JOLTs Job Openings (Nov)

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