Live: ASX 200 closes higher; Amcor surges on strong quarter; Goodman down on cautious approach

Local stocks end the day higher led by materials and energy gains. CBA hikes home loan, savings rates. Loan values fell in September. Rio lifts after winning over Turquoise investors. Inflation boost for Amcor. AGL up as Cannon-Brookes wins backing in board battle.

Investors are focused on global and local interest rate moves this week. Picture: Gaye Gerard

Welcome to the Trading Day blog for Wednesday, November 2. The ASX 200 closes higher led by materials and energy gains. Loan values fell in September. Rio lifts after winning over Turquoise investors. Inflation boost for Amcor. AGL up as Cannon-Brookes wins backing in board battle.

The ASX 200 closes up 0.1 per cent to 6986.7.

On Wall Street, the S&P 500 closed 0.4 per cent lower, the technology-focused Nasdaq Composite Index fell 0.9 per cent and the Dow Jones Industrial Average was off 0.2 per cent.

A tight labour-market reading wiped earlier gains and added to worries that the US Federal Reserve will undertake more aggressive monetary tightening to cool down inflation.

US 10-year bond yields fell to 4.05 per cent but two-year bond yields rose to 4.55 per cent.

Oil prices are higher on expectations about easing Covid-19 restrictions in China with global benchmark Brent crude up 2 per cent to $US94.65 per barrel and the US Nymex is 2.1 per cent stronger at $US88.37 per barrel.

The gold futures price rose 0.5 per cent to $US1649.70 an ounce while iron ore futures lifted 2.9 per cent to $US80.03 per tonne.

The Aussie dollar was near US63.95c at the US close.