AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
The Australian share market is poised to close the week with a gain.
The latest SPI futures indicate that ASX 200 would open 141 points or 2% higher.
On Thursday, the benchmark index ended 0.5% higher at 6,964 points.
The Australian share market is poised to close the week with a gain, buoyed by lower-than-expected inflation in the US. Softer inflation triggered bets that the US Federal Reserve would now slow down the pace of its aggressive monetary policy tightening.
Annual inflation in the US eased to 7.7% in October, the lowest since January.
The latest SPI futures indicate that ASX 200 would open 141 points or 2% higher on Friday. On Thursday, the benchmark index ended 0.5% higher at 6,964 points.
On Wall Street, the Dow Jones rose 3.70%, the S&P 500 surged 5.54%, and the NASDAQ ended 7.35% higher.
In Europe, the Stoxx 50 rose 3.2%, the FTSE gained 1.1%, the CAC rose 2%, and the DAX ended 3.5% higher.
MSCI's gauge of stocks across the globe rose 4.57%.
Bond yields
US Treasury yields fell to a five-week low, aiding expectations that the Fed could ease its policy-tightening stance.
- Benchmark 10-year notes last rose 85/32 in price to yield 3.82%, from 4.142% late on Wednesday.
- The 30-year bond last rose 125/32 in price to yield 4.0519%, from 4.319% late on Wednesday.
On the other hand, the dollar index tumbled 2.41%, while the euro rose 2.07% to US$1.0218.
Oil prices rise
On Thursday, crude prices rebounded following the CPI surprise, on hopes that sturdy demand will help offset renewed COVID-19 restrictions in China.
- US crude rose 0.75% to settle at US$86.47 per barrel.
- Brent settled at US$93.67 per barrel, up 1.1% on the day.
Gold prices jump
Gold prices surged on Thursday as the dollar dipped.
- Spot gold gained 3.0% to US$1,756.78 an ounce.
Meanwhile, robust investor risk appetite helped cryptocurrencies stage a partial comeback, with bitcoin last up about 13%, reversing its freefall after the collapse of crypto exchange FTX.
