The tech-lite ASX looks relatively immune from a Wall Street retreat, with futures markets pointing to only a marginal decline today.
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Market snapshot
By Stephen Letts
By Stephen Letts
- ASX 200 futures: -0.1% at 8,826 points
- ASX 200 (Friday): +1.0% to 8,807 points
- Australian dollar: +0.4% to 69.44 US cents
- Wall Street (Friday): S&P 500 -1.1%, Dow -0.3%, Nasdaq -2.1%
- Europe (Friday): Dax +1.0%, FTSE +0.4%, Eurostoxx600 +0.7%
- Spot gold: -0.1% to $US4,165/ounce
- Oil: Brent futures +3.7% to $US109.86/barrel, WTI futures +3.5% to $U101.41/barrel
- Iron ore (Friday): +1.5% to $US91.20/tonne
- Copper (LME): +0.5% to $US14,498/tonne
- Bitcoin: -0.8% $US80,901
- 10-year bonds: US 5.07% Australia 5.23%
Prices current at around 7:00am AEDT
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Good morning
By Stephen Letts
By Stephen Letts
Good morning and welcome to another day on the ABC markets and finance blog.
Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.
Wall Street closed sharply lower on Friday, dragged down by growing anxiety of the debt financing of the AI boom and whether the massive investment will deliver decent returns.
The Nasdaq Index fell more than 2%.
The ASX, isolated to a degree from AI's ups and downs, is priced for only a marginal retreat on opening.
Later today we will a blizzard of data out of China — Q3 GDP, as well as monthly releases on retail sales, industrial production and infrastructure/property investment will be published.
The game's afoot, so let's get blogging.