Market Close 12 Nov 24: Commodities slump and ASX follows

CommSec Market Update

There was a modest dip in the Aussie Market today, driven by declines in the energy and materials sectors due to falling commodity prices. While overall market losses were cushioned by gains in tech stocks, weak performance in gold miners, particularly after the U.S. election, impacted the market. Paladin Energy, a uranium miner, saw a sharp 28% drop due to production issues. Aristocrat Leisure hit a record high but dropped after announcing the sale of a gaming subsidiary. The financial sector held steady, though NAB faced downward pressure trading ex-dividend. U.S. markets, by contrast, continued upward, with the S&P 500 and NASDAQ up. Key factors to watch included Fed official speeches, ANZ's ex-dividend trading, and anticipated wage data, providing insights into economic health and market sentiment.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

See omnystudio.com/listener for privacy information.