Investing.com - the S&P/ASX 200 index remained little changed after the first 90 minutes of Wednesday's trade, following three sessions of consecutive gains, marking the longest winning streak since mid-December.
The Australian dollar remained stable at US65.74¢, experiencing a 3.5% decline this year due to the overall strength of the U.S. dollar as traders reassess their expectations on Federal Reserve rate cuts. Meanwhile, Bitcoin's value continues to dwindle, nearing a drop below $US39,000.
Among US indices, the S&P 500 extended yet another record close as market participants bet on lower interest rates and enthusiasm surrounding artificial intelligence. The S&P 500 and Nasdaq added 0.3% and 0.4% respectively, while the Dow Jones Industrial Average dipped 0.3%.
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In regional developments, Chinese authorities are reportedly contemplating a series of measures to stabilize the declining stock market, according to Bloomberg. Meanwhile, New Zealand is scheduled to release its Q4 inflation data today.
In the corporate sector, Nanosonics Ltd (ASX:NAN) fell short of its sales guidance for the six months ending December 31, with total revenue dropping 2.4% to $79.6 million, contrary to analysts' growth predictions of 17%.
In local news, BWP Trust and Newmark Property REIT have agreed to an all-stock merger. Listed insurance aggregator AUB Group successfully refinanced $850 million of its debt. Rio Tinto Ltd (ASX:RIO) has committed to purchase all electricity from Australia's largest solar farm for the next 25 years through an agreement with European Energy Australia.
Among individual companies, Northern Star Resources Ltd (ASX:NST) has confirmed its 2024 guidance, attributing it to the outstanding performance at its Kalgoorlie site, which compensated for challenges at Yandal amid rising costs. Moreover, Perseus Mining Ltd (ASX:PRU), Pilbara Minerals Ltd (ASX:PLS), St Barbara Ltd (ASX:SBM), and Woodside Energy Ltd (ASX:WDS) are set to release their quarterly production updates.