Image Source: © Outline205 | Megapixl.com
The Australian share market is likely to open largely flat on Friday.
According to the latest SPI futures, the ASX 200 is expected to open 9 points or 0.1% higher.
On Wall Street, the Dow Jones was down 0.3%, the S&P 500 dipped 0.1%, and the NASDAQ edged 0.05% higher.
The Australian share market is likely to open largely flat on Friday following a mixed night on Wall Street. Investors were weighed by concerns about rising inflation, energy supply fears and prospects of global recession dent investor sentiment.
According to the latest SPI futures, the ASX 200 is expected to open 9 points or 0.1% higher. On Thursday, the benchmark index fell 1.75% to 6,941 points.
On Wall Street, the Dow Jones was down 0.3%, the S&P 500 dipped 0.1%, and the NASDAQ edged 0.05% higher. The Dow fell for a sixth straight day.
The US Labor Department said the producer price index for final demand rose 0.5% in April as the rising cost of energy products moderated. The PPI surged 1.6% in March. The slowdown in monthly producer price gains followed a similar trend in consumer prices last month.
MSCI's gauge of stocks across the globe was down 1.76%, as of 3:03 ET (1903 GMT). That flagship global index is nearly 20% lower for the year.
The main pan-Asia Pacific indexes closed down 2.5% at a 22-month low overnight. Japan's Nikkei fell 1.8. Emerging market stocks lost 2.28%.
The US dollar climbed to a 20-year high on Thursday, and the dollar index last rose 0.759%, while the euro was down 1.31% to US$1.0373. The Chinese yuan slid to a 19-month trough.
Oil prices rise
Oil prices rose on Thursday, reversing earlier losses, as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars.
Gold prices fall
Gold and other precious metals fell on Thursday as investors flocked to the dollar.
Meanwhile, Bitcoin fell another 8% to $26,570, having been near US$40,000 just a week ago and almost US$70,000 last November.
Cryptocurrency markets are melting down, with the collapse of stablecoin TerraUSD highlighting the turmoil as well as the selling in bitcoin and next-biggest-crypto, ether, which slumped 15%.
RELATED ARTICLE: Dow, S&P close lower on mixed economic data; APP, GME, AMC rally
RELATED ARTICLE: TerraUSD (UST) coin rises over 40%: What does it mean for investors?
RELATED ARTICLE: Why is Tether (USDT) crypto dropping from its dollar-pegged price?
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and