ASX 200 to fall on mixed Wall Street closing; Suncorp, Aurizon in focus

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ASX 200 to fall on mixed Wall Street closing; Suncorp, Aurizon in focus

 ASX 200 to fall on mixed Wall Street closing; Suncorp, Aurizon in focus
Image source: © Outline205 | Megapixl.com

Highlights

  • The Australian share market is expected to start the week on a lower note.

  • The ASX 200 is likely to open 7 points or 0.1% lower on Monday.

  • The Dow Jones rose 0.2%, the S&P 500 declined 0.16% and the NASDAQ ended 0.5% lower.

The Australian share market is expected to start the week on a lower note following mixed closing on Wall Street. The major US indices were mixed after strong jobs data once again triggered concerns around aggressive monetary policy tightening in the US. However, robust iron ore prices are expected to boost domestic mining shares.

The ASX 200 is likely to open 7 points or 0.1% lower on Monday. The benchmark index closed 0.6% higher at 7,015.6 points last Friday.

Meanwhile, Suncorp Group Ltd (ASX:SUN) and Aurizon Holdings Ltd (ASX:AZJ) are the two ASX-listed firms scheduled to announce their earnings on Monday.

Global stock indices

The US jobs data revealed that the economy added 528,000 jobs last month. On Wall Street, the S&P 500 declined 0.16% and the NASDAQ ended 0.5% lower, and the Dow Jones rose 0.2%.

In Europe, the Stoxx 50 fell 0.8%, the CAC dropped 0.6%, the FTSE dipped 0.1%, and the DAX ended 0.7% lower. 

Bond yields

  • The yield on benchmark 10-year notes rose to 2.8287%.
  • The 30-year bond yield surged to 3.0662%.

The US dollar index surged 0.84%, while the euro fell 0.63% to US$1.0178.

Oil prices inch higher

Oil prices surged from the lowest levels since February on fears over shortage in supply.

  • WTI crude rose 0.53% to close at US$89.01 per barrel.

Gold prices fall

Gold prices dipped on strong US jobs data and reduced appeal of safe haven asset.

  • Spot gold fell 1.0% to US$1,772.82 an ounce.

Three-month copper on the London Metal Exchange (LME) surged 1.8% to US$7,869 a tonne by 1610 GMT.

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