AUS
NZ
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GER
ESP
ITA
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UAE
Highlights
The Australian shares are set to slip at the open on Tuesday.
The ASX 200 is likely to open 50 pointsor 0.7% lower.
The Dow Jones dipped 1.9%, the S&P 500 fell1%, and the NASDAQ ended 2.55% lower.
The Australian shares are set to slip at the open on Tuesday following poor start to the week on Wall Street. The domestic market is also expected to be weighed by a likely fall in local miners, and looming concerns over global interest-rate hikes.
The ASX 200 is likely to open 50 points or 0.7% lower, according to the latest ASX Futures. On Monday, the benchmark index finished 0.95% lower at 7,046.9 points.
Pilbara Minerals is among the major ASX-listed firms which are scheduled to announce their full year financial results on Tuesday.
Global stocks
US stock closed lower on Monday on concerns that the Federal Reserve’s efforts to control inflation would lead to weakening of the global economy. On Wall Street, the Dow Jones dipped 1.9%, the S&P 500 fell 2.1%, and the NASDAQ ended 2.55% lower.
In Europe, the local stock indices ended lower after Russia's Gazprom announced halting of the natural gas supplies for three days at the end of August. As a result, the Stoxx 50 fell 1.9%, the FTSE dropped 0.2%, the DAX dipped 2.3%, and the CAC ended 1.8% lower.
On the other hand, China’s central bank slashed some key lending rates by between 5 and 15 basis points on Monday to boost slowing economy.
Bond yields
The inversion of the US Treasuries' yields curve widened as the market awaited Fed Chairman Jerome Powell’s speech at Jackson Hole this Friday. The yield on the US 10-year note surged six basis points to 3.03%.
Oil prices remain volatile
Oil prices traded on a volatile note after Saudi Arabia's energy minister said the OPEC and its allies could trim production to counter market challenges.
- WTI crude futures fell 54 cents to end at US$90.23 a barrel.
- Brent crude finished down 24 cents at US$96.48.
Gold prices fall
Gold prices fell on Monday on account of a strong rally in the US dollar.
- US gold futures declined 0.8% to finish at US$1,748.40 an ounce.
Meanwhile, bitcoin fell 1.94% to US$21,096, weighed down by broad risk aversion in markets.
