Live: Wall Street gains as investors wait for US Fed to finish raising rates, followed by ASX

Good morning, Emilia here with you until 11:30 am today.

In the United States, investors are wondering if their central bank is done raising rates. Wall Street is making modest gains in the Dow Jones and S&P500, although the tech-heavy Nasdaq in particular, remains muted.

Here in Australia, ordinary people feeling the stress of rising mortgage payments are also wondering if rate rises are over. And a big part of that will depend on whether our own central bank believes inflation is still under control.

Today, we’ll get an idea of ​​how they might be thinking. The new ABS monthly data release on inflation will be released at 11:30am (AEDT). Here’s a note from ANZ:

We expect more evidence of asset disinflation and some temporary disinflation from government policies on rents and energy. This is likely to offset the current strength in new housing costs, rising health insurance premiums and an increase in domestic travel prices. Our estimate is that prices will remain stable during the month to reduce the annual rate of headline inflation to 5.2% per year.

Overnight in Hong Kong, new Reserve Bank Governor Michele Bullock also made some comments about inflation, saying price increases for services are “a little sticky.” She also reiterated that local economic activity has helped grow more than expected.

So what do you tip for the RBA’s final rate hike meeting of the year next week? Pause? Arrest? Coal in your bag for Christmas?