AUS
NZ
UK
CA
USA
IND
Highlights
Australian shares are expected to open higher on Tuesday.
The latest ASX Futures indicate that the ASX 200 would open 28 points or 0.4% higher.
The Dow Jones rose 0.3%, the S&P 500 edged 0.1% higher, and the NASDAQ dropped 0.4%.
The ASX 200 is likely to rise at open on Tuesday despite stocks closing on a mixed note on Wall Street. Market is awaiting the upcoming US Federal Reserve’s policy meeting on Thursday, where a 75-bps rate hike is expected. Traders have hopes from strong earnings results later this week from tech majors such as Apple, Meta, Microsoft, and Amazon.
Meanwhile, robust commodity prices may boost miners and energy shares. According to the latest ASX Futures, the ASX 200 would open 28 points or 0.4% higher. On Monday, the benchmark index declined 1.6 points to 6,789.9 points.
On Wall Street the Dow Jones rose 0.3%, the S&P 500 edged 0.1% higher, and the NASDAQ dropped 0.4%.
In Europe, the Stoxx 50 rose 0.2%, the FTSE surged 0.4%, the DAX gained 0.3%, and the CAC ended 0.3% higher.
Bond yields
The US bond yields surged on Monday ahead of US Fed’s rate hike decision scheduled this week and increased fears around looming recession.
- Benchmark 10-year notes’ yield last fell to 2.8105%, from 2.781% late on Friday.
- The yield on 2-year notes last fell to 3.0266%, down from 2.991% in the previous session.
The US dollar index declined 0.253%, while the euro rose 0.13% to US$1.0223.
Oil prices rise
Oil prices surged on Monday due to softening US dollar and supply-related concerns.
- WTI crude ended 2.11% higher at US$96.70 per barrel.
- Brent crude closed at US$105.15, up 1.9%.
Gold prices fall
Gold prices declined as traders sold the yellow metal ahead of the US Federal Reserve’s rate meeting this week.
Spot gold fell 0.5% to US$1,718.69.
On the other hand, iron ore futures rose on Monday amid hopes of economic rebound in China in the third quarter on expected support to the country’s struggling property sector.
Meanwhile, bitcoin last slipped 2.16% to US$22,108.16.
