AUS
NZ
UK
CA
USA
IND
Highlights
The Australian shares are likely to open lower on Thursday.
The latest ASX Futures indicate that the ASX 200 would open 28 points or 0.4% lower.
On Wall Street, the Dow Jones gained 0.15%, the S&P 500 surged 0.6%, and the NASDAQ ended 1.6% higher.
The Australian shares are likely to open lower on Thursday despite solid gains recorded by Wall Street in overnight trade. Investors turned wary as they took a closer look at US corporate earnings and considered extended COVID-19 concerns in China and an ongoing crude oil supply crunch.
The latest ASX Futures indicate that the ASX 200 would open 28 points or 0.4% lower on Thursday morning. On Wednesday, the ASX 200 surged sharply by 1.65% to 6,759.2 points.
Meanwhile, Zip Co Ltd (ASX:ZIP) share price would be closely tracked as the company is scheduled to release its fourth quarter and full year update.
Additionally, NAB’s Business Confidence data for the second quarter would also be released during the day.
On Wall Street, the Dow Jones gained 0.15%, the S&P 500 surged 0.6%, and the NASDAQ ended 1.6% higher.
The pan-European STOXX 600 index shed 0.21%. Similarly, the FTSE fell 0.4%, the DAX dipped 0.2% and the CAC shed 0.3%. On the other hand, MSCI's gauge of stocks across the globe advanced 0.54%.
Bond yields
On Wednesday, benchmark Treasury yields were mixed as traders pondered whether gas disruptions to Europe could push the euro zone to a deep recession.
- Benchmark 10-year notes’ yield last fell to 3.0321%, from 3.019% late on Tuesday.
- The US dollar index surged 0.356%, while the euro fell 0.45% to US$1.0178.
Both the ECB and the Bank of Japan are scheduled to announce their monetary policy decisions on Thursday.
Oil prices fall
Oil prices fell after US government data revealed softening gasoline demand during the summer’s peak season. There were also concerns that interest rate hikes by central banks could hurt energy demand.
- WTI crude closed down1.88% at US$102.26 per barrel.
- Brent crude settled at US$106.92, down 0.4%.
Gold prices dip
Gold prices fell after strong dollar weighed on the safe haven asset.
- US gold futures finished down 0.6% at US$1,700.20.
Meanwhile, prices of many base metals including copper recovered from multi-month lows following robust corporate earnings in the US.
