ASX Futures Dip Amid Wall Street Thanksgiving Closure; Snapchat Age Verification Faces Scrutiny
Australian financial markets are bracing for a cautious start today, with ASX 200 futures signaling a potential downturn. This follows a subdued night on Wall Street, which observed the Thanksgiving holiday. Despite the local market's anticipated dip, global indices saw modest gains, and the cryptocurrency Bitcoin notably climbed.
Market Movements at a Glance
As trading begins on Friday (AEDT), the ASX 200 futures are pointing down 0.4%, settling at 8,599 points. In currency markets, the Australian dollar is showing slight resilience, up 0.2% to 65.29 US cents. Across Europe, markets maintained a stable, slightly positive stance, with Britain's FTSE experiencing a marginal increase of 0.02% to 9,694 points, and the pan-European EuroStoxx rising 0.1% to 575 points. The US markets, including the S&P 500 (+0.7%) and Nasdaq (+0.9%), were closed for the holiday.
Commodities and Crypto Update
The commodities sector presented a mixed picture. Brent crude oil saw a modest uptick of 0.4%, reaching $US63.39 per barrel. Conversely, spot gold registered a slight decline of 0.2%, trading at $US4,157 per ounce, mirroring a similar drop for iron ore, which was down 0.2% to $US103.10 per tonne. A significant highlight was Bitcoin's robust performance, ascending 1.4% to $US91,422, indicating a strong push for recovery after recent market fluctuations.
Snapchat's Age Verification System Under Fire
Shifting focus from financial markets, cybersecurity experts have voiced serious concerns regarding the age verification methods proposed by Snapchat. The popular social media messaging platform is one of ten platforms soon to be subject to a ban for Australian children under 16, commencing on December 10. Snapchat intends to provide users with three verification options, including submitting a selfie or government-issued identification to a third-party service. Experts warn that these methods could introduce a "lot of problems", raising questions about data privacy and the efficacy of preventing underage access. A comprehensive report by Rudi Maxwell delves into these critical issues.
