AUS
NZ
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CA
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GER
ESP
ITA
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BRA
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CHN
UAE
Highlights
The Australian share market is expected to rise on Thursday.
According to the latest SPI futures, the ASX 200 is likely to open 36 points or 0.5% higher.
On Wall Street, the Dow Jones rose 0.2%, the S&P 500 surged 0.2% and the NASDAQ traded flat.
The Australian share market is expected to rise on Thursday following a decent overnight trade on Wall Street. The domestic benchmark is expected to rebound after three straight sessions of sharp losses, buoyed by recovery in commodity prices on easing fears of China's COVID-19 lockdowns, and upbeat US tech earnings.
According to the latest SPI futures, the ASX 200 is likely to open 36 points or 0.5% higher. On Thursday, the benchmark index fell 0.8% to 7,261.2 points.
On Wall Street, the Dow Jones rose 0.2%, the S&P 500 surged 0.2% and the NASDAQ traded flat.
In Europe, the Stoxx 50 rose 0.4%, the FTSE surged 0.5%, the CAC gained 0.5%, and the DAX ended 0.3% higher.
The pan-European STOXX 600 rose 0.7% after having hit six-week lows at the open. MSCI's benchmark for global equity markets retreated 0.17%. Emerging markets stocks fell 0.54%.
Meanwhile, weak Chinese stocks bucked the trend, gaining almost 3% as data showed faster profit growth at industrial firms in March than a year earlier.
Bond yields
- 2-year yield: US 2.59%, Australia 2.35% (US prices as of 4.59 PM in New York)
- 5-year yield: US 2.83%, Australia 2.85%
- 10-year yield: US 2.83%, Australia 3.05%, Germany 0.80%
The US dollar index hit a five-year high. On the other hand, the Australian dollar got a much-needed lift on Wednesday as data showed inflation blew past all expectations last quarter.
Oil prices inch higher
Oil prices rose modestly on Wednesday due to ongoing concerns about tight worldwide supply, underscored by another drawdown in US distillate and gasoline inventories.
- Brent crude futures settled up 33 cents to US$105.32 a barrel.
- WTI crude ended up 32 cents to US$102.02 a barrel.
Gold prices fall
Gold slipped to a more than two-month trough on Wednesday as the dollar rallied on expectations of aggressive monetary policy tightening by US Federal Reserve.
- Spot gold fell 0.8% to US$1,890.29 per ounce by 2:06 PM ET (1806 GMT).
Meanwhile, Chinese iron ore and steel futures rose on Wednesday after falling for two consecutive days, as concerns stoked by the COVID-19 outbreak eased.
The most-active iron ore contract for September delivery jumped as much as 3.5% to 834 yuan (US$127.19) a tonne in the morning session. They ended up 2.6% at 827 yuan.
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