ASX 200 set to fall; Carsales, Tabcorp to go ex-dividend

Highlights

  • The Australian share market is expected to end the week on a weak note following a mixed night on Wall Street.
  • The ASX 200 may open 14 points or 0.2% lower on Friday after rising 0.6% to 7,460.2 points in the previous session.
  • Com Ltd, Fletcher Building Ltd, Pinnacle Investment Management Group Ltd, and Tabcorp Holdings Ltd are a few shares going ex-dividend on Friday.

The Australian share market is expected to end the week on a weak note following a mixed night on Wall Street despite a positive US economic data. The domestic market may also trade lower, dragged by mining stocks that are likely to drop due to weaker gold and copper prices. The ASX 200 may open 14 points or 0.2% lower on Friday after rising 0.6% to 7,460.2 points in the previous session.

Carsales.Com Ltd, Fletcher Building Ltd, Pinnacle Investment Management Group Ltd, and Tabcorp Holdings Ltd are a few shares going ex-dividend on Friday.

ASX, ASX 200, Australian shares

Image Source: A view of ASX trading chart on screen. © Stbernardstudio   | Megapixl.com

On Wall Street, the Dow Jones fell 0.2%, the S&P 500 dropped 0.15%, and the NASDAQ rose 0.1%. US stocks traded in negative territory as rising US Treasury yields pressured market-leading tech stocks.

Global investors who have been piling into China in recent years are now bracing for one of its great falls due to concerns over-indebted property giant China Evergrande.

                     

What is dragging the ASX lower today?

 

On the other hand, retail sales rose in US in August. US investors are awaiting next week's Federal Reserve meeting to get hints about when Federal Reserve will start to taper stimulus.

Bond yields and dollar

The yield on 10-year Treasury notes was up 2.9 basis points at 1.333% following strong retail sales data in US.

The dollar index rose 0.441%.

Crude oil prices remain mixed

Crude oil prices remained mixed as easing threat of storm threat in US exerted pressure on prices. Brent crude ended up 0.3%, at US$75.67 a barrel. WTI finished unchanged at US$72.61 a dollar.

Energy stocks such as Woodside Petroleum Ltd (ASX: WPL) and Santos Ltd (ASX:STO) could be under pressure on Friday.

Gold, gold prices

Image Source: A gold bar. ©Flynt   | Megapixl.com

Gold prices fall

The strong data sent safe-haven gold down nearly 3%. Spot gold fell 2.3% to US$1,751.53 an ounce. US gold futures fell 2.27% to US$1,751.70 an ounce.

ASX-listed old stocks such as Northern Star Resources Ltd (ASX:NST) and Newcrest Mining Ltd (ASX:NCM) could trade lower on Friday.

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