AUS
NZ
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UAE
Highlights
The Australian share market is poised to start the week on a muted note.
The latest SPI futures indicate that the ASX 200 would open 61 points or 0.9% lower.
On Wall Street, the Dow Jones fell 2.1%, the S&P 500 dipped 2.8%, and the NASDAQ ended 3.8% lower.
The Australian share market is poised to start the week on a muted note after Wall Street witnessed another sell-off last Friday. The investor sentiment dipped following a stronger-than-expected US employment data, which has given a fresh boost to interest rate hike bet.
The latest SPI futures indicate that the ASX 200 would open 61 points or 0.9% lower. On Friday, the benchmark index closed 0.8% lower at 6,762.8 points.
The US Labour Department reported that non-farm payrolls rose by 263,000 in September, marginally above expectations, with the jobless rate falling to 3.5%, below forecasts. On Wall Street, the Dow Jones fell 2.1%, the S&P 500 dipped 2.8%, and the NASDAQ ended 3.8% lower.
Investors would now turn to quarterly corporate earnings kicking off next week, as well as Thursday's latest monthly figures on US inflation.
In Europe, the FTSE fell 0.09%, the DAX dipped 1.6%, and the CAC dropped 1.1%. The MSCI world equity index was down 2.45%.
US dollar and bond yields
The US dollar index was up 0.47%, and the yield on benchmark 10-year Treasury notes rose 5.9 basis points to 3.881%.
Oil prices rise
On Friday, oil prices rose nearly 4% to a five-week high, boosted again by an OPEC+ decision to make its largest supply cut since 2020 despite concern about a possible recession and rising interest rates.
- Brent futures rose 3.7% to settle at US$97.92 a barrel.
- WTI crude rose 4.7% to end at US$92.64.
Gold prices fall
Gold prices fell following the US jobs report.
- US gold futures settled 0.7% lower at US$1,709.30.
Iron ore
Dalian and Singapore iron ore marked their second quarterly losses, despite some gains on Friday, as worries over a stringent zero-COVID policy and property sector jitters in China continued to dominate markets.
The most-traded January iron ore on China's Dalian Commodity Exchange ended 0.1% higher at 721.50 yuan (US$101.66) a tonne.
