Markets snapshot 7am AEDT
- ASX 200 futures: -0.5% to 8,154 points
- Australian dollar: +0.4% to 65.87 US cents
- S&P 500: -0.1% to 5,723 points
- Nasdaq: +0.7% to 18,238 points
- Dow Jones Industrial Average -0.5% to 4,1826
- FTSE: +0.1% to 8,184 points
- EuroStoxx: +1.0% to 504 points
- Spot gold: +2.8%to $US2,738/ounce
- Brent crude: +2.7% to $US75.07/barrel
- Iron ore: +2.1% to $US104.25/tonne
- Bitcoin: -2.1% to $US687,739
Update
US investors have a couple of big events to ponder this week.
There’s the US presidential election (results are due to start getting interesting about midday Wednesday AEDT) and a potential Federal Reserve rate cut later this week.
Wall Street is still trading, the Dow Jones Industrial Average has dropped the most on Monday (US time).
Volatile trading is expected until the election is decided and investors are clearer on government policy.
The biggest gainer among the 11 major S&P sectors was energy, up 1.72% as oil prices climbed after OPEC+ decided to delay plans for an output increase.
Chip heavyweight Nvidia gained 2.13%. It follows the news on Friday that the company would replace Intel in the Dow Jones Industrial Average. Intel shares slipped 2.28%, which weighed on the Dow.
Hotel operator Marriott International lost 2.09% after cutting its 2024 profit forecast on weak domestic travel demand in the U.S. and China.
Constellation Energy was the worst performer on the S&P 500, slumping 10.79% after the Federal Energy Regulatory Commission on Friday rejected an agreement to increase the power capacity of an Amazon data centre connected directly to Talen Energy’s nuclear power plant in Pennsylvania. The decision weighed on the utilities sector, which fell 1.25%.
Here’s a look at the top and bottom movers on the S&P 500:
Good morning
It’s going to be another day of financial markets being driven by big events. In Australia, the RBA will tell us if the cash rate is going up, down or staying put. Almost everyone is saying we won’t see any movement on that front.
While in the US, traders continue to eye the US presidential election.
Happy public holiday for those of you lucky to be taking Melbourne Cup day off.
We’ll bring you business, economics and finance news as the day unfolds.
