ASX 200 Logs 3rd Weekly Gain Despite Further Daily Loss

The ASX 200 fell 65 points, or 0.7%, to close at 9,082 on Friday, extending prior losses. Sentiment weakened as Nasdaq futures slipped after Wall Street fell Thursday amid reports of Nvidia CEO Jensen Huang’s exit due to an ongoing scandal. Higher oil prices also weighed after US President Trump said a deal with Iran was unnecessary. Caution prevailed ahead of next week’s October labor data, following a high September jobless rate and a drop in employment. Gold miners dipped on weaker bullion prices, with Northern Star Resources and Evolution Mining down 2.8% and 2.9%, respectively. BHP Group lost 1.3%, and Rio Tinto shed 0.7% on weaker iron ore prices and a firmer US dollar. Meanwhile, the big four banks were mixed, while Ampol rose 0.7%. Still, the index gained 0.7% for the week, marking its third weekly advance amid sustained buying interest and hopes that the RBA could pause its tightening cycle after five rate hikes this year and recent weakness in consumer and business sentiment.