ASX set for strong open after Wall Street rises, oil and gold prices jump
Wall Street is also watching the tech sector as the industry kicks off the annual CES trade show in Las Vegas. While Nvidia lost 0.4 percent in value, Google gained 0.4 percent.
Investors are particularly focused on developments in artificial intelligence or artificial intelligence. The sector has set a number of records in the broader market in 2025, on expectations that artificial intelligence will continue to drive the advancements and profits of a wide range of technology companies. The latest updates on AI from influential tech companies may help shed more light on whether major investments are worth the potential financial risks.
While companies such as Nvidia invest heavily in technology, investors on Wall Street have made these companies among the most valuable companies in the world.
Gold price gained 2.6 percent and silver price gained 7.9 percent. Such assets are often considered safe havens in times of geopolitical turmoil. Metals reached record prices last year in an environment where economic concerns caused by conflicts and trade wars continue.
In the bond market, treasury yields fell. The yield on the US 10-year Treasury note fell to 4.16 percent from 4.19 percent on Friday. The yield on the two-year Treasury note, which moves closer to expectations of what the Fed will do, fell to 3.46 percent from 3.48 percent on Friday.
Wall Street will get plenty of economic updates this week, which will also be monitored by the Fed as it sets interest rate policy.
The central bank’s biggest focus will be reports on the U.S. labor market later this week, which include updates on job openings and overall employment. The Fed weighs the slowing employment market against rising inflation risks when deciding whether to cut interest rates. It cut its benchmark interest rate three times in late 2025, but inflation remained above its 2 percent target, making the Fed more cautious.
Wall Street still expects the Fed to keep interest rates steady at its meeting in late January.
_AP via Bloomberg
