ASX Flat as US Rate Fears Linger

Market Reports

by Finance News Network

US Markets
The S&P 500 dropped on Wednesday after the Federal Reserve kept interest rates steady in its first policy meeting of the year, while Nvidia saw a decline following a strong prior session.
The broad market index fell 0.47%, closing at 6,039.31, while the Nasdaq Composite dropped 0.51% to finish at 19,632.32. The Dow Jones Industrial Average lost 136.83 points, or 0.31%, ending at 44,713.52.

Nvidia shares hit session lows after Bloomberg News reported that officials from the Trump administration had discussed restricting the company’s chip sales to China, following the launch of the DeepSeek AI model. Shares ended the day down 4%, and for the week, the AI powerhouse is down over 13%.

Bitcoin
Bitcoin gained 1%, potentially benefiting from the volatility in US equities.

Commodities
Brent crude oil prices fell 0.8% to $76.85 per barrel, continuing recent downward pressure on energy prices. Iron ore prices rose 1% to $104.70 per tonne, providing some support to the Australian market.

ASX Outlook
The ASX is poised for a flat start. The SPI 200 futures are pointing to 0.06% fall.

Australia Dollar
The Australian dollar dropped to US62.29¢, weighed down by the possibility of a prolonged delay in future rate cuts in the US.

Key Events
Several key events and data releases are scheduled, including New Zealand trade balance figures and ANZ business confidence data.

Corporate Results
A number of Australian companies, including Mineral Resources, Sandfire Resources, Syrah Resources, Karoon Energy, IGO Ltd, Vulcan Energy Resources, and Zip Co, are set to release quarterly results.


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