AUS
NZ
UK
CA
USA
IND
Highlights
The Australian shares are set to open higher on Tuesday.
The ASX 200 index would open 20 points or 0.3% higher.
The Dow Jones fell 0.5%, the S&P 500 declined 1.2%, and the NASDAQ ended 2.3% lower.
The Australian shares are set to open higher on Tuesday despite Wall Street closing lower in the overnight trade. The US shares finished lower as investors appeared anxious ahead of fresh reporting season which may potentially influence the Federal Reserve’s future moves on rate hikes.
Rising weakness in underlying commodity prices due to renewed COVID-19 curbs in China may restrict gains for domestic mining and gold shares.
The latest ASX Futures were suggesting that the benchmark ASX 200 index would open 20 points or 0.3% higher. On Monday, the benchmark index ended 0.45% higher at 6,678 points.
On Wall Street, the Dow Jones fell 0.5%, the S&P 500 declined 1.2%, and the NASDAQ ended 2.3% lower.
In Europe, the Stoxx 50 fell 1%, the FTSE was flat, the CAC declined 0.6% and the DAX ended 1.4% lower.
While Japan's Nikkei surged 1.11%, Chinese blue chips shed 1.9%.
Meanwhile, Central banks of Canada and New Zealand are likely to tighten their monetary policies further this week.
Bond yields
On Monday, US Treasury yields declined on account of sell-off of US shares, triggered by fears that weak growth could hurt earnings. The yield on 10-year notes last fell 11 basis points to 2.99%.
The US dollar index surged 0.869%, while the euro fell 1.2% to US$1.0061.
Oil prices remain flat
Oil prices remained almost unchanged as markets balanced a likely fall in demand on account of mass testing for coronavirus in China against ongoing fears around tight supply.
- Brent futures for September delivery advanced 0.1%, to finish at US$107.10 a barrel.
- WTI crude fell 0.7% to settle at US$104.09.
Gold prices fall
On Monday, gold prices declined to a nine-month low on concerns about fresh rate hikes and the US dollar’s rise.
US gold futures fell 0.6% at US$1,731.70.
Iron ore prices decline
Iron ore prices slipped in Asia on Monday on concerns about falling demand for the raw materials in China, due to increase in fresh COVID-19 curbs.
The most-traded iron ore, for September delivery, on China's Dalian Commodity Exchange ended 3.3% lower at 741 yuan (US$110.37) a tonne.
