AUS
NZ
UK
CA
USA
IND
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Highlights
The Australian shares are set to fall at open on last day of the trading week.
The latest ASX Futures indicate that the ASX 200 would open 53 points or 0.8% lower on Friday morning.
On Wall Street, the Dow Jones declined 0.45%, the S&P 500 dipped 0.3%, and the NASDAQ was flat.
The Australian shares are set to fall at open on last day of the trading week following a dismal night of trade on Wall Street in wake of higher-than-expected inflation data, which amplified fears of a possible recession. The domestic market is also expected to see commodity stocks trading on a weak note on lingering demand concerns.
The latest ASX Futures indicate that the ASX 200 would open 53 points or 0.8% lower on Friday morning. On Thursday, the benchmark ASX 200 index ended 0.45% higher at 6,650.6 points.
Meanwhile, Rio Tinto (ASX:RIO) shares would be closely watched today as the ASX-listed mining giant is set to release its second quarter and first half production update. Additionally, AVZ Minerals (ASX:AVZ) shares are scheduled to return from extended suspension today.
Global equities
On Wall Street, the Dow Jones declined 0.45%, the S&P 500 dipped 0.3%, and the NASDAQ was flat. The US equity indices were weighed by weak bank earnings.
Global slowdown concerns increased as US Labor Department's Producer Price Index report mimicked Wednesday's Consumer Price Index data.
In Europe, the Stoxx 50 fell 1.7%, the FTSE dipped 1.6%, the CAC declined 1.4%, and the DAX ended 1.9% lower. MSCI's gauge of stocks across the globe fell 0.82%.
Bond yields
US Treasury yield curve is the most inverted currently than at any point in time, implying a looming recession. The yield on 10-year Treasury notes was up 5.5 basis points to 2.961%. The two-year US Treasury yield was down 1 basis point at 3.134%.
Meanwhile, the US dollar index surged 0.351%, while the euro was down 0.47% to US$1.0013.
Oil prices fall
Oil prices fell on Thursday as traders eyed a large US interest rate hike later in July that could curb rising consumer prices. However, it is also expected to hit hard on the oil demand.
- Brent crude futures for September fell 0.5% to US$99.10 a barrel.
Gold prices dip
Gold prices fell over 2% to a near one-year low after US dollar gained strength.
- US gold futures finished 1.7% lower at US$1,705.8.
Iron ore tumbles
Iron ore prices slipped on Thursday on concerns that demand from China could remain depressed in the short term. Notably, the benchmark price in Singapore crashed to its lowest in eight months below US$100.
On China's Dalian Commodity Exchange, the most-traded September iron ore contract finished down 2.6% at 695.50 yuan (US$103.21) a tonne.
