ASX 200 likely to rise; Wall Street ends mixed

2 min read | October 27, 2022 08:07 AM AEDT | By Team Kalkine Media

ASX 200 likely to rise; Wall Street ends mixed — Image source: © Ymgerman | Megapixl.com

Highlights

The Australian share market is poised to rise on Thursday.

The latest SPI futures indicate that the ASX 200 would open 31 points or 0.45% higher.

On Wednesday, the benchmark index ended 0.2% higher at 6,810.9 points.

The Australian share market is poised to rise on Thursday despite Wall Street ending lower in the overnight trade. The US stocks ended higher boosted by bets that global banks might shift to less aggressive tightening after the Bank of Canada lifted less than expected.

The latest SPI futures indicate that the ASX 200 would open 31 points or 0.45% higher. On Wednesday, the benchmark index ended 0.2% higher at 6,810.9 points.

On Wall Street, the Dow Jones rose 0.0074%, the S&P 500 fell 0.74% and the NASDAQ ended 2.04% lower.

In Europe, Stoxx 50 gained 0.6%, the FTSE surged 0.6%, the CAC rose 0.4%, and the DAX ended 1.1% higher.

Bond yields

10-year yield: US 4.02% Australia 3.91% Germany 2.11% (US prices as of 3.48pm in New York)

Oil prices jump

Oil prices rose on Wednesday night on record high US crude exports and robust refining demand.

WTI crude oil price rose 3.25% to US$88.10 a barrel.
Brent crude oil price jumped 2.6% to US$95.92 a barrel.

Gold price rises

The gold price hit a two-week high after the US dollar and treasury yields eased.

The spot gold price rose 0.65% to US$1,669 an ounce.

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