Live: ASX set for modest gains even though Wall St ‘could barely find a pulse’

Hello and welcome to another week in the markets.

The typical ongoing “Santa Claus rally” took a break during the Thanksgiving holiday in the United States late last week.

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THE S&The P 500 has gained more than 10% since hitting its lowest level in late Octoberbut only managed to add 0.1% during a shortened trading day on Friday, following a full day off on Thursday.

Ray Attrill, head of foreign exchange strategy at NAB says the end of last week was pretty quiet.

“The US stock market barely found its rhythm during its half-day session on Friday, said the S&The P500 ended up only 0.06% (+1% over the week) and the NASDAQ -0.11%. Britain’s FTSE also finished up just 0.06%, while Eurozone stock exchanges fared slightly better, with the Eurostoxx 600 gaining a third of a percent,” he wrote.

“China and Hong Kong were the worst underperformers on Friday, with the Hang Seng down 2% and the China CSI 300 down 0.7%, also making it the worst weekly performer (-0. 8%). The ASX 200 also had a down week, although just -0.1%.

Local futures point to a 0.2% gain for the ASX 200 when trading resumes at 10am AEDT.

Oil had another tough day Friday, with Brent -1% to $80.58while gold was held around $2,000 an ounce And iron ore continued to progress towards US$133.90 per tonne.

After attending two toddler birthday parties this weekend, I’m feeling ready for another week of action in the markets. And you?

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