CommSec Market Update

Market Close 05 Dec 24: Bitcoin cracks US$100,000


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The Aussie market saw a modest uptick today, gaining 10 points as it recovered a third of Wednesday's losses. Bitcoin made headlines, surpassing $100,000 USD amid hopes for lighter regulation, rising 40% since early November. Meanwhile, the U.S. markets hit new records across all major indices, fuelled by strong economic confidence. Locally, energy and mining stocks struggled, with lithium miners like Liontown down sharply due to weaker prices, while gold stocks outperformed thanks to rising prices. Attention also turned to the upcoming OPEC+ meetings and upcoming U.S. job data, both poised to shape market movements in the days ahead.

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