Australian shares are likely to start the day higher, despite losses on Wall Street as oil prices slumped — along with shares of tech giants Apple and Tesla. Follow live.
lost 0.8 per cent, and finished at 10,387.
Investors were also worried about the US Federal Reserve's interest-rate hiking path, and are keenly awaiting the minutes of its December meeting . Markets will watch for signs of how concerned the Fed is about persistent inflation and its thoughts on the labour market. Wall Street ended 2022 with its steepest annual losses since 2008. This was largely due to the Fed lifting rates at its fatest pace the 1980s to stamp out decades-high inflation.
"Even though the calendar has changed, a lot of the main issues for the market have not, specifically with the Federal Reserve tightening monetary policy as it's still concerned about inflation," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance."Until the Fed really changes their tone, it's an uphill battle for the market."
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