ASX 200 fell by 0.2 per cent at the close on Wednesday

The Aussie market closes down despite a positive start to trade across the board, as investors look ahead for jobs data and US inflation updates.

The Aussie market has finished in the red despite starting the day off with confidence across the board, as investors wait to see the latest key jobs data and updated US inflation numbers.

Despite early gains, the benchmark ASX 200 index lost 17.70 points or 0.22 per cent to close at 8,213.30 points on Wednesday.

The broader All Ordinaries also fell by 15.00 points or 0.18 per cent to 8,456.80.

The Australian dollar was flat at US 61.88 cents.

The ASX fell on Wednesday. Picture: NewsWire / Damian Shaw

Eight of 11 sectors finished in the red, with the worst performing stocks Neuren Pharmaceuticals Ltd and The Star Entertainment Group Ltd, down 8.42 per cent and 5.36 per cent respectively.

WiseTech also fell 3.7 per cent at $115 – the lowest daily close since October 28.

Meanwhile, lithium miners were among the top gainers.

Liontown Resources Ltd saw the biggest gains, with a 40 cents jump to close at 58 cents.

Pilbara Minerals also did well, gaining 4 per cent after confirmation on Tuesday it had secured a $15m grant from the WA government to improve its Pilgangoora lithium operations.

The joint venture between Pilbara Minerals and Calix Limited (Calix) aims to construct and operate a demonstration-scale plant featuring the world’s first industrial-scale electric spodumene calciner.

Pilbara Minerals have received a boost after a $15m commitment form the WA government.

Pilbara Minerals’ managing director and chief executive Dale Henderson said the project aimed to decarbonise one of the most carbon-intensive processes in the battery materials supply chain.

“This is a great demonstration of the WA government’s commitment to supporting downstream onshore processing and innovation through supporting two Australian companies in a project which could meaningfully reduce carbon emissions of the global lithium industry,” Mr Henderson said.

“This funding boost goes a long way to supporting the delivery of the Mid-stream Demonstration Plant project and will enable the JV to consider recommencement of the project.

“We remain fully supportive of the midstream strategy and our joint venture, recognising the Project’s potential to transform the lithium supply chain through lower emissions and value-adding processing.”

Guzman y Gomez saw huge gains on Wednesday. Picture: NewsWire / Gaye Gerard

Meanwhile, Guzman y Gomez Ltd seemed to find success in the market, gaining 4.97 per cent to $40.23.

UBS analysts upgraded Guzman y Gomez from ‘sell’ to ‘neutral’ in it is latest briefing, further proving it remained confident in the company’s long-term potential.

The Mexican food chain listed on the ASX in June last year at $22 a share

ComSec market analyst said Laura Besarati the market reamined “volatile” as investors look ahead to the rest of the week.

“Investors are a little bit cautious ahead of the back end to the week, so they’re just sitting on the sidelines for now ahead of a busy 24 hours,” she said.

It comes as the latest jobs data is expected to be delivered on Thursday, which could see the drastic reaction to the market depending on the outcome.

“At this stage markets do seem convinced we’ll get our first rate cut next month here in Australia in February when the RBA meets but it’s exactly this data that could shift those expectations or cement them,” Ms Besarti said.

Investors will also be waiting for the latest inflation figure to come out of the US on Thursday.

“Core inflation – which is the one the Fed watches at closely – is tipped to ease from 3.3 per cent to 3.2 per cent, that’s in annual terms,” Ms Besarati said.

“Recently we’ve seen economic data quite a lot stronger in the US and that’s really pushed out expectation for a rate cut to the second half of the year.

“It’s this type of data that investors will be watching very closely.”