The ASX 200 ended the day at 8465, experiencing a 0.4% decline. This drop can be attributed to a combination of factors, including mixed global influences, strong performance in the US market, and geopolitical tensions in Asia.

Australian banks and resource stocks have seen a significant increase of 35% year-to-date. However, finding the next catalyst for substantial gains is proving to be a challenge. Analysts believe that the seasonal "Santa Claus rally" could potentially provide upward momentum into early January.

In the US, equity markets are thriving, with the Nasdaq 100 reaching record highs. This growth is driven by a robust economic performance. Analysts describe the current market environment as "almost Goldilocks" and project that the Nasdaq could reach 21,500 as long as it remains above 20,315.

Oil prices are currently range-bound due to OPEC+ production cuts and ongoing geopolitical uncertainties in the Middle East. Analysts predict that crude oil will remain within the range of $66 to $72.50 until there is clearer direction from the market.