ASX to slip as Wall Street edges higher; $A jumps

Summary

• ASX futures were down 7 points, or 0.1%, pointing to a weak start for the ASX 200. The local market slipped 0.3% to close yesterday’s session at 6679.1
• US markets recovered from a mid-session slide overnight to finish slightly higher. The S&P 500 added less than 0.1%, the Dow rose 0.2%, and the Nasdaq climbed 0.2%
• Traders were betting that incoming President-elect Joe Biden will usher in heftier fiscal stimulus and that a ramp-up in distribution of coronavirus vaccines would boost the economy
• The Aussie dollar jumped 1% to 77.75 US cents, while oil, iron ore, and gold prices also improved