The ASX has given up early gains, currently trading down by a tenth-of-one-percent to 8,989.10 as the markets digest the fifth day of the US shutdown with more than 800,000 being furloughed as lawmakers remain at an impasse over a series of budget bills.
Materials have been stronger in early trade, led by Lynas Rare Earths (ASX:LYC), up 4.45% to $18.86 and Catalyst Metals (ASX:CYL) also higher by to 3.85% to $8.370.
Safe-haven buying pushed gold higher to US$3,904/oz while the Australian dollar is trading at US$0.66 with moderation in the copper price to US$4.95/lb and iron ore price near US$104 per metric ton as growth concerns weigh on the Chinese economy.
West Texas Intermediate oil is higher at $US61.81 with brent crude up 1.47% at $US65.48.
Markets remain cautious ahead of potentially delayed U.S. jobs data and lingering fiscal uncertainty in Washington.
Write to Dan Petrie at Mining.com.au
Images: mining.com.au
