Markets Overview

  • ASX SPI 200 futures up 0.2% to 8,606.00
  • S&P 500 up 0.4% to 6,838.32
  • Dow Average up 0.5% to 47,524.55
  • Aussie up 0.3% to 0.6566 per US$
  • US 10-year yield little changed at 4.0807%
  • Australia 3-year bond yield rose 2.7 bps to 3.92%
  • Australia 10-year bond yield rose 5.8 bps to 4.61%
  • Gold spot down 0.8% to $4,200.16
  • Brent futures down 1.2% to $62.39/bbl

Economic Events

  • 09:00: (AU) RBA’s Bullock & Kent-Senate Testimony
  • 09:00: (AU) Nov. S&P Global Australia PMI Compo, prior 52.6
  • 09:00: (AU) Nov. S&P Global Australia PMI Servi, prior 52.7
  • 11:00: (AU) Australia to Sell A$1 Billion 4.25% 2035 Bonds
  • 11:30: (AU) 3Q GDP YoY, est. 2.2%, prior 1.8%
  • 11:30: (AU) 3Q GDP SA QoQ, est. 0.7%, prior 0.6%

RBA Governor Michele Bullock and Assistant Governor Christopher Kent appear before the Senate Economics Legislation Committee in Canberra. Australia GDP is due today.

Wall Street staged a cautious rebound, with the S&P 500 stuck in a tight trading range despite a rally in cryptocurrencies that followed a rough start to December. Bonds and the dollar stabilized.

While the US equity benchmark rose for the sixth time in seven sessions, most of its firms dropped. Apple Inc. led gains in megacaps, but Tesla Inc. fell as Michael Burry called the shares “ridiculously overvalued.” Boeing Co. surged 10% as it expects to generate cash again in 2026.

The stock market still requires a bit more broadening out before expecting an immediate push back to fresh highs, according to Mark Newton at Fundstrat Global Advisors.

“I have a constructive view for December, but still believe it is likely to show a ‘back and forth’ type pattern over the next couple of weeks,” he said.

At Piper Sandler, Craig Johnson says more time and technical evidence are needed for a “buy” signal to occur.

Bitcoin topped $90,000, recovering from a bruising selloff that caught the market off guard and erased nearly $1 billion in fresh leveraged bets.

As traders awaited the last few economic reports before next week’s Federal Reserve decision, President Donald Trump said he plans to announce his selection to lead the central bank in early 2026.

The S&P 500 rose to around 6,830. The Nasdaq 100 climbed almost 1%. The yield on 10-year Treasuries was little changed at 4.08%. The dollar wavered.