Market Wrap (12 Jan 2024)...
The ASX200 has finished the week, trading down just .1 of a per cent. Most sectors lost ground with the utilities sector the weakest today, down about 1.4 per cent.
The local market failed to build any momentum throughout the day, likely due to hotter-than-expected US inflation data reported overnight, lifting doubts that the Federal Reserve will cut rates as early as expected.
It was an interest week for uranium (with Paladin and Boss Energy both up 18%, and Bannerman 22%). The rally was triggered by the US Department of Energy announcing the next steps to build domestic uranium supply for advanced nuclear reactors.