Market Close 18 Dec 24: Market treads water ahead of U.S. rate cut
Description
The Aussie market closed flat today despite an optimistic start, as lunchtime weakness erased earlier gains. Investors are now eyeing the U.S. Federal Reserve's final interest rate decision for the year, expected to deliver a 25 basis point cut, marking three consecutive cuts since September. Market attention will shift to the Fed’s economic outlook and potential rate movements in 2024. Locally, sectors showed mixed performance, with healthcare and industrials faring best, while financials and materials slipped. Meanwhile, company news included NAB’s AGM and updates from Xero and ANZ, while dividend payouts from Westpac and others are on the horizon.
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