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Yesterday morning, Australian shares made an impressive rebound, rising 1.3% at its highest level of the session, however soon after started to decline and closed with a smaller gain of 0.2%. Selling began off the back of reports from the CEO of Moderna, who told the press yesterday that existing vaccines will struggle against the new omicron COVID-19 variant. This saw the US futures for last night decline and Aussie shares drop as well. By close of trade, communications services advanced the most, up 1.8%. This was followed by real estate and consumer staples. Meanwhile utilities declined the most, down 1.2%.
Collins Foods (ASX:CKF) gained 12.6% off the back of reporting its half-year results. The KFC owner delivered a 9.5% increase in revenue to a record $534.2 million, and a 31.6% increase in underlying NPAT to $28.9 million. CKF also reported a fully ranked interim dividend up 14% to 12 cps. The worst performing stock of the day was St Barbara (ASX:SBM), and other gold miners such as Perseus Mining (ASX:PRU) and Regis Resources (ASX:RRL) also declined.
In US equities, all three major benchmarks closed lower, after Federal Reserve chairman Jerome Powell said the central bank will discuss speeding up the bond-buying taper at its December meeting. The Dow dropped 650 points, the S&P 500 down 1.9% and the tech heavy Nasdaq down 1.6%.
Taking direction from the broad sell off in New York, the ASX200 is set to open lower, with the SPI futures suggesting a drop of 0.5%.
What to watch today: