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Highlights
The Australian share market is poised to begin the week on a strong note.
As per the latest SPI futures, the ASX 200 would open 42 points or 0.6% higher on Monday.
On Wall Street, the Dow Jones rose 0.1%, the S&P 500 surged 0.9%, and the NASDAQ ended 1.9% higher.
The Australian share market is poised to begin the week on a strong note following a healthy session on Wall Street on Friday night on hopes that softer US inflation would lead to less aggressive interest rate hikes by the US Federal Reserve. As a result of this market outlook, the US dollar witnessed its biggest two-day fall in 13 years. The market sentiment was also upbeat after China eased some of its heavy COVID-19 curbs.
As per the latest SPI futures, the ASX 200 would open 42 points or 0.6% higher on Monday. On Friday, the benchmark index closed 2.8% higher at 7,158 points.
On Wall Street, the Dow Jones rose 0.1%, the S&P 500 surged 0.9%, and the NASDAQ ended 1.9% higher.
In Europe, the Stoxx 50 rose 0.6%, the FTSE fell 0.8%, the CAC surged, and the 0.6% DAX ended 0.6% higher.
The MSCI emerging markets index rose 5.19%, in its biggest single-day surge since March.
Bond yields
The yield on benchmark US 10-year paper fell below 4% on Thursday. US bond markets were closed on Friday for Veterans Day.
Oil prices rise
On Friday, oil prices ended higher but fell week-on-week after health authorities in China eased some of the country's heavy COVID-19 curbs, raising hopes for improved economic activity and demand in the world's top crude importer.
- US crude futures settled up $2.49 at US$88.96 a barrel.
- Brent rose US$2.32 to settle at US$95.99.
Gold prices surge
Gold prices extended gains to a near three-month high on Friday and were heading for their best week in over 2-1/2 years.
- US gold futures settled up 0.9% at US$1,769.40 an ounce.
Meanwhile, FTX's native token FTT plunged 28.47% at US$2.666, having fallen 90% month-to-date.
