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Highlights
The Australian share market is poised to rebound on Monday.
According to the latest SPI futures, the ASX 200 would open 19 points or 0.25% higher.
On Wall Street, the Dow Jones rose 0.1%, the S&P 500 was flat, and the NASDAQ ended 0.2% lower.
The Australian share market is poised to rebound on Monday despite Wall Street finishing mixed last week. The US equities were weak after stronger-than-expected jobs data triggered bets that the US Federal Reserve would need to keep tightening rates to tame inflation.
According to the latest SPI futures, the ASX 200 would open 19 points or 0.25% higher. On Friday, the benchmark index ended 0.7% lower at 7,301.5 points.
The final calendar monetary policy meeting of the year at the Reserve Bank of Australia (RBA) is set for Tuesday.
On Wall Street, the Dow Jones rose 0.1%, the S&P 500 was flat, and the NASDAQ ended 0.2% lower. The US Labor Department reported that nonfarm payrolls increased by 263,000 jobs last month compared with economist expectations for 200,000 jobs.
MSCI's gauge of stocks across the globe shed 0.15% on the day but added 1.5% for the week.
Bond yields
The yields turned lower after earlier rising sharply as investors eyed the resilient labor market and rising wages as worrisome for the Fed's efforts to tame inflation.
- Benchmark 10-year note yields were up 2.7 basis points to 3.554%, from 3.527% late on Thursday.
- The 30-year bond yield was last down 3.9 basis points at 3.594%, from 3.633%.
- The 2-year note yield was last was up 7.1 basis points at 4.3255% from 4.254%.
Oil prices fall
Oil futures fell in Friday's choppy session ahead of a meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday and an EU ban on Russian crude on Monday.
- US crude settled down 1.5% at US$79.98 per barrel.
- Brent ended at US$85.57, also down 1.5% on the day.
Gold prices dip
Gold prices also regained some lost ground from their earlier reaction to the jobs data.
- Spot gold dropped 0.3% to $1,797.69 an ounce after earlier falling as much as 1.4%.
