AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
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IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
The Australian shares are likely to open marginally higher on Wednesday.
The ASX 200 may open the day 7 points or 0.1% higher, as per the latest SPI Futures.
In the US, the Dow Jones fell 0.47%, the S&P 500 dipped 0.22%, and the NASDAQ traded flat.
The Australian share market may snap its losing streak and open marginally higher on Wednesday despite weak overnight trade on Wall Street. The robust commodity prices are expected to support mining and energy shares, while concerns over looming recession fears amid a global interest-rate hike cycle would keep a check on investors’ risk appetite.
The ASX 200 may open the day 7 points or 0.1% higher, as per the latest SPI Futures. On Tuesday, the benchmark index fell 1.2% to 6,961.8 points.
Meanwhile, Coles and WiseTech are a few ASX-listed firms which are scheduled to release their FY2022 results today.
Global equities
The latest economic data showing slower economic growth in the US increased hopes that Federal Reserve would not go ahead with aggressive increasing of interest rates at its central bank symposium at Jackson Hole on Friday. In the US, the Dow Jones fell 0.47%, the S&P 500 dipped 0.22%, and the NASDAQ traded flat.
In Europe, the Stoxx 50 rose 0.2%, the FTSE fell 0.6%, the DAX slipped 0.3%, and the CAC ended 0.3% lower. MSCI's global stock index fell 0.26%.
Bond yields
The yields on the US 10-year note rose three basis points to 3.04%. On the other hand, the dollar index declined 0.422% as the euro rebounded 0.24% to US$0.9965.
Oil prices gain
Crude prices rose on Tuesday after Saudi Arabia issued warning that the OPEC+ producer alliance could trim output.
- WTI crude futures surged US$3.38 to close at US$93.74 per barrel.
- Brent crude rose US$3.74 higher at US$100.22.
Gold prices rebound
On Tuesday, gold prices rebounded following a pullback in the US dollar as weak US economic data boosted the yellow metal.
- US gold futures closed 0.7% higher at US$1,761.20.
Iron ore prices surge
The prices of iron ore and steel soared in China after the latest lending rate cut boosted local sentiment.
The most traded January iron ore on the Dalian Commodity Exchange closed up 2.5% at 705 yuan (US$102.71) a tonne, and Shanghai Futures Exchange's most-active rebar contract closed 1.7% higher at 4,052 yuan a tonne.
