Sage Investment Club

Japan +0.35%. China Market closed. Hong Kong Market closed. Australia -0.30%. Australian data – Westpac Leading Index for December -0.13% (prior -0.16%). Australia Q4 Headline CPI 1.9% q/q (expected 1.6%). Inflation in Australia rose to a new 32-year high of 7.8% in the final quarter of the fiscal year of 2022, marking the fastest pace since March 1990. India -1.27%. Overnight on Wall Street, major stock indexes struggled for direction with the Dow Jones Industrial Average closed on a third day of gains, while the S&P 500 and Nasdaq Composite took a dip. The Dow gained 104.40 points, or 0.31%, to close at 33,733.96. This marked the third day of gains for the 30-stock index. The S&P 500 dipped 0.07% to settle at 4,016.95, while the Nasdaq Composite dropped 0.27% to end at 11,334.27. RBNZ’s own CPI indicator 5.8% y/y (prior 5.6%) – this is its Sectoral Factor Model. NZ Q4 CPI higher than expected. New Zealand Q4 inflation 1.4% q/q (expected 1.3%) 7.2% y/y (expected 7.1%). Singapore’s core inflation rate climbed 5.1% in December on an annualized basis, according to the Ministry of Trade and Industry. Gold prices traded in a tight range on Wednesday as investors stayed away from taking big bets ahead of U.S. economic growth data this week, while expectations of slower interest rate hikes from the Federal Reserve kept bullion’s outlook bright. Spot gold was steady at $1,937.09 per ounce, as of 0249 GMT, after hitting its highest since late April 2022 on Tuesday. U.S. gold futures were up 0.2% at $1,940.00. Among other precious metals, spot silver dipped 0.2% to $23.62 per ounce and platinum lost 0.2% at $1,054.40. Palladium rose 0.1% to $1,745.38. U.S. futures lower. Dow Jones -0.23%; S&P 500 -0.39%; Nasdaq -0.67%.

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