Market Close 11 Dec 24: Market slips ahead of US inflation data
Description
The Australian market had a sluggish day, with the ASX down 0.8% for the week so far. Despite a lackluster performance, markets are awaiting key economic data, particularly U.S. inflation figures, which could influence share prices ahead of next week's interest rate decision. In Australia, the Reserve Bank's recent decision to hold rates has sparked speculation about potential rate cuts in early 2025, particularly after upcoming job data. Sector performance was mixed, with property trusts rising, while tech and industrial stocks lagged. South32 saw a significant drop due to operational challenges in Mozambique, while Sigma Healthcare's merger with Chemist Warehouse is on track for completion. The outlook remains uncertain, with several major economic updates and interest rate decisions expected in the coming days.
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