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Highlights
The Australian share market is likely to end the week lower.
According to the latest SPI futures, the ASX 200 would open 5 points or 0.1% lower on Friday.
The Dow Jones fell 0.022%, the S&P 500 dropped 0.31%, and the NASDAQ ended 0.35% lower.
The Australian share market is likely to end the week lower after a key US Federal Reserve policymaker revised higher his forecast for the peak for interest rates. Fed needs to continue raising rates by at least another full percentage point, as hikes so far "have had only limited effects on observed inflation," said James Bullard, president of the St. Louis Fed.
According to the latest SPI futures, the ASX 200 would open 5 points or 0.1% lower on Friday. On Thursday, the benchmark index closed 0.2% higher at 7,135.7 points.
On Wall Street, the Dow Jones fell 0.022%, the S&P 500 dropped 0.31%, and the NASDAQ ended 0.35% lower.
In Europe, the Stoxx 50 fell 0.1%, the FTSE dropped 0.1%, the CAC dipped 0.5%, and the DAX ended 0.2% higher.
MSCI's gauge of stocks across the globe shed 0.91% while the pan-European STOXX 600 index.
Bond yields
Benchmark 10-year US Treasury yields rose from six-week lows on Thursday as investors evaluated how high the Federal Reserve will raise rates as inflation moderates even as growth appears to remain strong.
Benchmark 10-year yields were last at 3.784%, after falling to 3.671% on Wednesday, the lowest since 5 October 2022.
On the other hand, the euro fell 0.31% to US$1.036, and the yen weakened 0.46% versus the dollar to 140.20.
Oil prices fall
On Thursday, oil fell more than 3% as the rising number of COVID-19 cases in China and the likelihood of higher US interest rates than currently expected weighed on demand.
- US crude futures fell US$3.95 to settle at US$81.64 a barrel.
- Brent crude settled down US$3.08 at US$89.78.
Gold prices dip
Gold prices retreated 1% on Thursday as the dollar bounced.
- Spot gold fell 0.8% to US$1,760.43 per ounce by 1:50 PM ET (1850 GMT).
- US gold futures settled down 0.7% to US$1,763.
Meanwhile, Bitcoin fell 0.13% to US$16,632.00.
