ASX 200 rises 0.056% as energy gains 1.72% and tech falls 2.71%
The ASX 200 index finished Monday nearly flat, buoyed by oil stocks that jumped 1.72% toward US$100 per barrel despite technology losses of 2.71%. Market attention now shifts to upcoming US inflation data.
The All Share Index ended the trading day at 0.056% gain, appearing almost flat after a volatile session. Energy stocks led gains with a 1.72% increase driven by rising oil prices targeting US$100 per barrel following recent US actions against Iranian tankers and an unchanged output policy from OPEC+. This energy surge helped counteract significant losses in the technology sector, which dropped 2.71%. Tech investors face additional pressure after a strong US jobs report suggested potential further Federal Reserve interest rate hikes. Traders are closely watching Friday's Consumer Price Index release to determine if inflation pressures remain sufficient for policy tightening or if markets can return to normal behavior.
