ASX set to edge higher; Iron ore and oil slip

published 13.01.2021 23:05

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The Dow Jones Industrial Average fell 8.22 points, or 0.03 per cent, to 31,060.47, the SP 500 gained 8.65 points, or 0.23 per cent, to 3,809.84 and the Nasdaq Composite added 56.52 points, or 0.43 per cent, to 13,128.95.

While utilities, up 1.9 per cent, and real estate, advancing 1.4 per cent, led percentage gains among the 11 major SP sectors during the session, the biggest losers were the more economically sensitive sectors such as materials and industrials, which fell about 1 per cent.

As the US House of Representatives gathered to consider a second impeachment for Trump after the Capitol invasion by his supporters which left five dead, some investors were watching to see whether the process would delay stimulus or other parts of in-coming President Joe Biden's agenda.

But a day before incoming President Joe Biden's fiscal relief plan was due to be announced, investors appeared to pull to the sidelines.

Intel Corp was the biggest percentage gainer in the SP, advancing 7 per cent after the chipmaker said it would replace its Chief Executive Officer Bob Swan with VMware Inc CEO Pat Gelsinger next month.

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