AUS
NZ
UK
CA
USA
IND
Highlights
ASX 200 is likely to open on a weaker note on Wednesday.
The benchmark index is likely to open 47 points or 0.7% lower.
The Dow Jones dipped 0.7%, the S&P 500 fell 1.15%, and the NASDAQ ended 1.9% lower.
ASX 200 is likely to open on a weaker note on Wednesday, tracking losses in the overnight session on Wall Street as investors await the US Federal Reserve meeting. Market expects Fed to hike interest rates by a 75-basis point in the meet scheduled on Wednesday.
The benchmark ASX 200 index is likely to open 47 points or 0.7% lower, according to the latest ASX Futures. On Tuesday, the benchmark index surged 0.25% to 6,807.3 points.
Meanwhile, shares of Rio Tinto Ltd (ASX:RIO) would be closely watched on Wednesday as the company is set to release its half-year results.
Global equities
The global market sentiment weakened after International Monetary Fund’s (IMF) forecast that the global real gross domestic product (GDP) growth for 2022 would dip from its 3.6% forecast issued earlier in April to 3.2%.
Retail stocks dragged down Wall Street after Walmart lowered its profit forecast Monday as rising fuel and food prices forced customers to cut down on discretionary purchases. On Wall Street, the Dow Jones dipped 0.7%, the S&P 500 fell 1.15%, and the NASDAQ ended 1.9% lower.
In Europe, the Stoxx 50 fell 0.8%, the FTSE was flat, the DAX dipped 0.9%, and the CAC ended 0.4% lower.
Bond yields
The US Treasury yields fell on Tuesday following the latest gas supply cuts from Russia to Europe and concerns about looming US economic slowdown.
- 2-year yield: US 3.04%, Australia 2.67% (US prices as of 2.10 PM in New York)
- 5-year yield: US 2.88%, Australia 3.13%
- 10-year yield: US 2.79%, Australia 3.33%
The US dollar index surged 0.714% to 107.180, while the euro fell 0.98% to US$1.012.
Oil prices fall
Oil prices fell on Tuesday on concerns related with demand and muted consumer confidence.
- WTI crude settled down 1.78% at US$94.98 per barrel.
- Brent crude closed at US$104.40, down 0.71%.
Gold prices dip
Gold prices inched lower as traders sold gold ahead of Fed meet this week.
- Spot gold fell 0.1% to US$1,716.98 an ounce.
Meanwhile, bitcoin last fell 1.86% to US$20,910.08.
