Australian shares slipped in the final session of the week as US Federal Reserve officials emphasised the need for patience in addressing global inflation concerns. At 11:30am, the S&P/ASX 200 is 0.27 per cent lower at 7,792.50, with most sectors trending downwards, particularly Energy. However, tech stocks saw a modest increase of 0.4% following overnight strength in US tech stocks, amidst remarks from Federal Reserve officials suggesting a cautious approach to policy adjustments.
The SPI futures are pointing to a fall of 28 points.
Best and worst performers
The best-performing sector is Information Technology, up 0.43 per cent. The worst-performing sector is Energy, down 0.98 per cent.
The best-performing large cap is Incitec Pivot (ASX:IPL), trading 2.53 per cent higher at $2.84. It is followed by shares in Boral (ASX:BLD) and GQG Partners (ASX:GQG).
The worst-performing large cap is Infratil (ASX:IFT), trading 2.16 per cent lower at $9.98. It is followed by shares in Cleanaway Waste Management (ASX:CWY) and Woodside Energy Group (ASX:WDS).
Commodities and the dollar
Gold is trading at US$2402.00 an ounce.
Iron ore is 1.0 per cent higher at US$108.65 a tonne.
Iron ore futures are pointing to a 0.55 per cent rise.
One Australian dollar is buying 65.41 US cents.