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Highlights
The Australian share market is poised to end the week on a lower note.
According to the latest SPI futures, the ASX 200 would open 18 points or 0.25% lower on Friday.
On Wall Street, the Dow Jones fell 0.56%, the S&P 500 dropped 0.087%, but the NASDAQ ended 0.13% higher.
The Australian share market is poised to end the week on a lower note following a mixed session on Wall Street. The US equities fell as a contraction in the manufacturing activity for November overshadowed mild easing in inflation and solid consumer spending there.
While equity investors cheered signs of moderating inflation on Thursday and an increase in US consumer spending in October, risk appetites dimmed after data showed US manufacturing activity contracted for the first time in 2-1/2 years in November as higher borrowing costs weighed on demand.
According to the latest SPI futures, the ASX 200 would open 18 points or 0.25% lower on Friday. On Thursday, the benchmark index ended 0.95% higher at 7,354.4 points.
On Wall Street, the Dow Jones fell 0.56%, the S&P 500 dropped 0.087%, but the NASDAQ ended 0.13% higher.
MSCI's gauge of stocks across the globe gained 0.79% while emerging market stocks rose 0.63%.
Bond yields
- Benchmark 10-year notes were down 19.4 basis points to 3.507%, from 3.701% late on Wednesday.
- The 30-year bond was last down 21.9 basis points to yield 3.6039%, from 3.823%.
- The 2-year note was last was down 13.2 basis points to yield 4.2399%, from 4.372%.
On the other hand, the US dollar index fell 1.002% after hitting its lowest point since 11 August 2022, while the euro rose 1.12% to US$1.0522, hitting its highest level against the greenback since late June.
Oil prices mixed
Oil prices rose sharply ahead of 4 December meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+.
- WTI crude settled up 0.8% at US$81.22 per barrel.
- Brent crude settled at US$86.88, down 0.1% on the day.
Gold prices rise
Gold prices climbed sharply as the dollar weakened.
- Spot gold gained 2.0% to US$1,802.94 an ounce.
- US gold futures gained 3.17% to US$1,801.40 an ounce.
