The Australian share market experienced a slight decline on Tuesday, primarily due to losses in consumer-related and mining stocks. This downturn was attributed to a reassessment of the impact of further commodity price decreases. The S&P/ASX 200 index closed 0.1% lower, just below its record high. Several sectors, including consumer-related stocks and mining giants, contributed to the market’s decline. Lithium explorers were particularly hard-hit as lithium prices continued to fall. Gold miners, however, bucked the trend, benefiting from rising gold prices.
Futures
The Dow Jones futures are pointing to a fall of 75 points.
The S&P 500 futures are pointing to a fall of 8.75 points.
The Nasdaq futures are pointing to a fall of 76 points.
The SPI futures are down 2 points.
Best and worst performers
The best-performing sector was Information Technology, up 1.20 per cent. The worst-performing sector was Consumer Staples, down 1.91 per cent.
The best-performing large cap was WiseTech Global (ASX:WTC), closing 2.41 per cent higher at $124.38. It was followed by shares in Premier Investments (ASX:PMV) and Harvey Norman Holdings (ASX:HVN).
The worst-performing large cap was Mineral Resources (ASX:MIN), closing 8.45 per cent lower at $36.17. It was followed by shares in Pilbara Minerals (ASX:PLS) and Whitehaven Coal (ASX:WHC).
Asian markets
Japan’s Nikkei has gained 0.07 per cent.
Hong Kong’s Hang Seng has lost 0.43 per cent.
China’s Shanghai Composite has gained 1.13 per cent.
Commodities and the dollar
Gold is trading at US$2,527.30 an ounce.
Iron ore is 4.1 per cent lower at US$96.15 a tonne.
Iron ore futures are pointing to a 4.7 per cent fall.
Light crude is trading $0.53 higher at US$74.07 a barrel.
One Australian dollar is buying 67.33 US cents.