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Highlights
The Australian share market is expected to rebound on Monday after ending lower last week.
According to the latest SPI futures, the ASX 200 is expected to open 28 points or 0.4% higher.
On Wall Street, the Dow Jones fell 0.5%, the S&P 500 dropped 0.8%, and the NASDAQ fell 1.7%.
The Australian share market is expected to rebound on Monday after ending lower last week. The mining and energy stocks are expected to boost market sentiments amid elevated commodity prices.
According to the latest SPI futures, the ASX 200 is expected to open 28 points or 0.4% higher. On Friday, the benchmark index fell 0.6% to 7,110.8 points.
On Wall Street, the Dow Jones fell 0.5%, the S&P 500 dropped 0.8%, and the NASDAQ fell 1.7%.
In Europe, STOXX 50 fell 5%, FTSE declined 3.5%, CAC slipped 5%, and DAX ended 4.4% lower. MSCI's gauge of stocks across the globe closed down 1.65%.
Overnight in Asia, MSCI's broadest index of Asia-Pacific shares ex-Japan fell as much as 1.5% to 585.6.
Stock markets across Asia were in a sea of red, with Japan losing 2.2%, South Korea 1.1%, China 0.9%, and Hong Kong 2.5%.
Bond yields
- 2-year yield: US 1.48%, Australia 1.10%
- 5-year yield: US 1.64%, Australia 1.84%
- 10-year yield: US 1.73%, Australia 2.15%, Germany -0.08%
The dollar rose more than 1% against a basket of six trading currencies at one point. The euro fell 1.17% to US$1.0934.
The US unemployment rate fell to a two-year low of 3.8% as job growth surged in February, a bright spot for an economy that faces mounting headwinds from rising inflation, tighter monetary policy by the US Federal Reserve and geopolitical tensions.
Oil prices rise
Crude oil prices rose again on Friday as disruption of Russian exports outweighed hopes for more Iranian supply.
- WTI settled up US$8.01 at US$115.668 a barrel.
- Brent crude rose US$7.65 to US$118.11.
In the first few minutes of trade on Sunday, both benchmarks rose to their highest since July 2008 with Brent at US$139.13 a barrel and WTI at US$130.50.
Gold prices rise
Gold price added 4.1% over the week thanks to increased demand for safe haven assets.
US gold futures settled 1.6% higher at US$1,966.60 an ounce.
Meanwhile, aluminum touched a fresh record high in London, and nickel reached an 11-year high for similar reasons. Palladium prices rose above US$3,000 per ounce for the first time since May 2021.
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