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Highlights
The Australian shares are expected to end the week on a strong note.
The latest ASX Futures indicate that the benchmark ASX 200 index may open 11 points or 0.15% higher on Friday.
On Wall Street, the Dow Jones rose 0.5%, the S&P 500 gained 1%, and the NASDAQ ended 1.36% higher.
The Australian shares are expected to end the week on a strong note following robust overnight trade on Wall Street.
According to the latest ASX Futures, the ASX 200 index is likely to open 11 points or 0.15% higher on Friday morning. On Thursday, the benchmark index surged 0.5% to 6,794.3 points.
In the US, the S&P 500 gained 1%, the Dow Jones rose 0.5%, and the NASDAQ ended 1.36% higher. On Thursday, major US stock market indices advanced after Tesla’s stock followed the company’s strong quarterly results to counter a fall in telecom and energy sectors.
The initial jobless claims in the US hit a fresh eight-month high. It comes as the Federal Reserve is scheduled to hold its monetary policy meeting in the coming week. According to economists, the US Fed may raise interest rates by 75 bps in the meeting.
In Europe, the Stoxx 50 rose 0.3%, the FTSE gained 0.1%, the DAX fell 0.3%, and the CAC 0.3%. Europe was focused on the European Central Bank (ECB) as the latter raised interest rates by 50 bps, the first rate hike since 2011.
Bond yields
Bond yields fell after ECB turned focus of investors on economic slowdown. Yields on benchmark 10-year US notes last rose to 2.9023%, from 3.036% late on Wednesday.
- 2-year yield: US 3.13%, Australia 2.78%
- 5-year yield: US 3.04%, Australia 3.33%
The euro rose 0.27% to US$1.0204, and the US dollar index fell 0.28%.
Oil prices fall
Oil prices fell for the second straight session on surging gasoline stockpiles, ECB interest rate hike, and resumption of supplies.
- WTI crude finished down 3.53% at US$96.35 per barrel.
- Brent crude closed at US$103.86, down 2.86%.
Gold prices surge
Gold prices gained over 1% on Thursday on softening US dollar.
- US gold futures surged 0.6% to US$1,711.00.
