Welcome to the ABC’s stock market blog for Wednesday, December 14, 2022.
The big news overnight is that US interest rate rises are working with the cost of living in North America barely rising in November as prices of gasoline and used cars fell.
US inflation pulled back to 7.1 per cent on an annual basis.
And disgraced crypto entrepreneur and former chief executive of collapsed cryptocurrency exchange FTX, Sam Bankman-Fried, has been charged with eight counts of securities and wire fraud, conspiracy, money laundering and violating campaign finance regulations by US authorities.
The inflation news boosted the US stock market, but in afternoon trade the Dow Jones index has given up most of its gains.
In futures trade, the ASX SPI 200 is up 0.2 per cent indicating the local market will rise today.
The ASX 200 index put on 0.3 per cent yesterday.
Follow the day’s financial news and insights from our specialist business reporters. And let us know if there’s anything you’d like to know.
Disclaimer: this blog is not intended as investment advice.
Live updates
US stocks boosted by weaker inflation in November
By Sue Lannin
Key Event
Good morning, ABC business reporter Sue Lannin with you for all your business news today.
This my first market blog so stay tuned for the markets news and the occasional joke!
Wall Street is up in afternoon trade but has come off its highs after US inflation was weaker last month.
The Australian share market looks set to rise today.
Here’s a quick snapshot of all the market action overnight at 6.30 am AEDT.
- Dow Jones: up 0.2 per cent to 34,070
- S&P 500: up 0.6 per cent to 4,014
- Nasdaq Composite: up 0.8 per cent to 11,233
- US inflation: up 0.1 per cent in November, up 7.1 per cent over year to November
- ASX SPI 200: up 0.2 per cent to 7,227
- Australian dollar: up 1.6 per cent to 68.52 US cents
- FTSE 100: up 0.8 per cent to 7,503
- DAX: up 1.3 per cent to 14,498
- CAC 40: up 1.4 per cent to 6,745
- Brent crude: up 3.3 per cent to $US80.59 a barrel
- Spot gold: up 1.7 per cent to $US1810.87 an ounce
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