ASX 200 to fall after US reports weak job gains; oil, iron ore prices rise

Highlights

  • The Australian share market is expected to start the week on a subdued note following a weak end by Wall Street last week.
  • The ASX 200 is expected to open 4 points or 0.05% lower on Monday after rising 0.9% to 7,320.1 points in previous session.
  • On Wall Street, the Dow Jones edged 0.03% lower, the S&P 500 fell 0.19%, and the NASDAQ dropped 0.5%.

The Australian share market is expected to start the week on a subdued note following a weak weekend at Wall Street last week. The ASX 200 is expected to open 4 points or 0.05% lower on Monday after rising  0.9% to 7,320.1 points in previous session.

Why did ASX200 fall at the open on Monday?

On Wall Street, the Dow Jones edged 0.03% lower, the S&P 500 fell 0.19%, and the NASDAQ dropped 0.5%. US stocks ended lower Friday after subdued employment data and inflation fears hit the confidence of investors.

Image Source:@ Kalkine Media

Bond market and US dollar

  • The 30-year Treasury bond yields was up 1.35% to 2.162.
  • The 10-year bond yields surged 2.37% to 1.608.
  • 2-year yield: US 0.32%, Australia 0.08%
  • 5-year yield: US 1.06%, Australia 0.92%
  • 10-year yield: US 1.61% Australia, 1.63% Germany -0.15%
  • The US Dollar Futures Index fell by 0.11% to US$94.118.

Oil prices rise

Image Source:@ Kalkine Media

Gold prices inch lower

Image Source:@ Kalkine Media

Meanwhile, iron ore prices inched higher on Friday night as the benchmark iron ore price surged 5.4% to US$123.38 a tonne.

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