- ASX 200 seems to be opening on a positive note with a higher opening of 0.6 per cent or about 40 points.
- The 10-year U.S. Treasury note rose five basis points to 1.7099%.
- Oil price rebounded after the Ever Given container ship that had blocked the Suez Canal for nearly a week was refloated.
On Monday, the Australian markets tried to start the week on a positive note, but the early morning gains soon faded and turned to losses by the end of the day; the market closed 0.36 per cent or 24.7 points down to 6799.5. However, today, the ASX 200 seems to be opening on a positive note with a higher opening of 0.6 per cent or about 40 points.
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The wall street last day had a mixed trading session where Down Jones closed 0.3 per cent up at 33,171.4, after making a new all-time high of 33,259. The S&P500 closed mildly lower by 0.09 per cent while Nasdaq was down by 0.6 per cent.
The 10-year Treasury yields rose on investor expectations that U.S. President Joe Biden's infrastructure initiative would be announced on Wednesday could mean faster economic growth and a sharp increase in Treasury bond issuance.
The 10-year U.S. Treasury note rose five basis points to 1.7099%.
Oil price rebounded after the Ever Given container ship that had blocked the Suez Canal for nearly a week was refloated, and traffic in the waterway resumed. Crude prices also edged higher after a report that Russia would support stable oil output from the OPEC and allies ahead of a meeting with the producer group later this week.
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Brent crude futures rose 41 cents to settle at US$64.98 a barrel, while WTI crude futures settled up 59 cents to US$61.56 a barrel.
Gold slipped more than 1% to a more than two-week low as a firm dollar, and rising U.S. Treasury yields dented the safe-haven metal's appeal. The yellow metal was also pressured by bets for a swift U.S. economic recovery.
Stock specific action
Eligible shareholders of Commonwealth Bank of Australia (ASX:CBA) can look forward to being paid a dividend of 150 cents per share.