Australian shares are set to open little changed. The S&P 500 closed lower, paced by consumer and tech stocks. $A rises. Labour force data pending.
Australian shares are set for a muted open, with futures fading in line with New York’s swing lower amid uncertainty about inflation’s persistence and the Fed’s willingness to keep lifting interest rates.
At 2pm, though, the Fed released its latest meeting minutes which signalled that policymakers are divided on rates; some considered pausing them last month, while others debated a half-point increase. In the end, they agreed on a quarter point rise.P then tumbled lower through 3.30pm and mostly held those losses heading towards the closing bell.
Federal Reserve policymakers scaled back their expectations for rate hikes this year after a series of bank collapses roiled markets last month.
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