ASX200 falls because the market waits for key US knowledge | Australian Markets
It was a blended day for the Aussie market as traders digest key knowledge out of the US in addition to the impression of the upcoming tariffs on world economies.
The benchmark ASX 200 index was comparatively flat on Friday, to close down 9.3 factors or 0.1 per cent at 8511.4 factors.
In the meantime the broader All Ordinaries closed down simply 4.80 factors or 0.05 per cent to eight,780.30.
The Aussie greenback slid barely down 0.1 per cent to 62.79 US cents.
On the native market six of the 11 sectors rose, led by data technology, shopper staples and the supplies sector.
Regardless of more sectors rising, the market nonetheless fell, as vitality and healthcare misplaced more than 1 per cent during Friday’s trading.
The Index see-sawed all through the trading day as traders await the US January jobs report to be launched on Saturday morning Australian time.
Capital.com senior financial market analyst Kyle Rodda mentioned “economists are essentially forecasting a Goldilocks print, with the economy projected to have added 169,000 jobs in January and an unemployment rate that remained unchanged at 4.1 per cent and wage growth that moderated to 3.8 per cent.”
It was a sturdy day for the massive 4 banks. CBA rose barely by 0.018 per cent to hit a recent report high of $162.97. Westpac additionally reached a new recent report high of $34.17 whereas NAB hit a recent 18-year high of $40.70, after growing 0.79 per cent on Friday. ANZ additionally had a sturdy day up 0.19 per cent to $31.01.
AMP chief economist Shane Oliver mentioned the dominant narrative on the market all through the week remained tariffs.
US President Donald Trump this week slapped 10 per cent tariffs on China which is far decrease than the 60 per cent he had threatened during the marketing campaign.
However the US additionally paused 25 per cent tariffs for Canada and Mexico for a month, giving traders hope the identical may occur with China.
“It’s not a big weekly fall. We were at a record last Friday so for all intents and purposes we are still around record highs despite the tariff uncertainties,” Dr Oliver mentioned.
“The other thing which impacted our market was the bond yield aspect. Scott Bessent, who is the treasury secretary in the US said he and Trump wanted to lower bond yields and that led to a fall in yields.
“This had a flow on effect to markets including Australia as it helped improve valuations” he mentioned.
In company news, shares in pizza retailer Domino’s soared on Friday after saying a plan to close 200 of its underperforming shops. Shares popped 21.30 per cent to $35.93 on the news.
Domino’s confirmed in a assertion to the ASX it was closing more than 200 shops, together with one in six of its retailers in Japan, in a bid to cut back the quantity of loss-making eating places amid investor disquiet and falling gross sales.
The store shutdowns would set off a near-$100m price for Domino’s however generate price financial savings for the group from the 2026 financial yr.
Collins Meals additionally jumped 12.69 per cent to $8.35.
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