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Highlights
The Australian share market is poised to open flat on Tuesday.
According to the latest SPI futures, the ASX 200 would open just 2 points higher on Tuesday.
On Wall Street, the Dow Jones fell 0.63%, the S&P 500 dipped 0.89%, and the NASDAQ ended 1.12% lower.
The Australian share market is poised to open flat on Tuesday after Wall Street closed lower in the overnight trade due to late sell-off. The global stocks gained as investors digested comments from the US Federal Reserve officials to try and determine the central bank's path of interest rate hikes. Meanwhile, investors are expected to get another look at inflation when the US producer price index is released on Tuesday.
According to the latest SPI futures, the ASX 200 would open just 2 points higher on Tuesday. On Monday, the benchmark index closed 0.15% lower at 7,146.3 points.
On Wall Street, the Dow Jones fell 0.63%, the S&P 500 dipped 0.89%, and the NASDAQ ended 1.12% lower.
In Europe, the Stoxx 50 rose 0.5%, the FTSE gained 0.9%, the CAC surged 0.2%, and the DAX ended 0.6% higher. MSCI's gauge of stocks across the globe gained 0.17%.
Bond yields
Treasury yields rose on Monday after Fed governor Christopher Waller warned that the US central bank will continue to hike rates as it battles inflation, dampening hopes that it is closer to ending its tightening cycle.
- Benchmark 10-year notes rose 4.9 basis points to 3.878% from 3.829% late on Thursday.
- The two-year yield was up 8.6 basis points at 4.412%, from 4.326%
On the other hand, the US dollar index fell 0.056% while the euro was unchanged at US$1.0352.
Oil prices fall
Oil prices fell by US$2 on Monday, weighed by a firmer US dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world's biggest crude importer.
- Brent crude futures were down US$2.25, or 2.5%, at US$95.23 a barrel by 12 PM EST (1700 GMT) after gaining 1.1% on Friday.
- WTI crude futures dipped US$2.25, or 2.0%, to US$88.03 after advancing 2.9% on Friday.
Gold prices rise
Gold steadied on Monday as bargain hunting offset pressure from the dollar's advance following Fed’s signs that it was not softening its fight against inflation.
- Spot gold rose 0.1% to US$1,772.94 per ounce by 01:32 PM ET (1832 GMT) after falling 1% earlier in the day.
In cryptocurrencies, bitcoin last fell 1.48% to $16,506.00 after falling below US$16,000 for the first time since Thursday as investors continue to assess the fallout from last week's collapse of crypto exchange FTX.
