Market Snapshot
- ASX 200 futures: 1%
- Australian dollar: -0.3% to 64.07 US cents
- Wall Street: Dow +0.7% S&P +0.4% Nasdaq -0.2%
- Europe: FTSE +0.5% DAX +0.7% Stoxx 600 +0.5%
- Spot gold: +1.7% to $US3,243/ounce
- Brent crude: -2.33% to $US64.55/barrel
- Iron ore: -0.3% to $US101.50/tonne
- Bitcoin: -0.3% to $US103,158
Prices current around 7:15am AEST
Live updates from major ASX indices:
Wall Street up again as US interest rate cut predicted
Good morning!
Wall Street has ended higher again for the fourth session in a row, as investors continue to celebrate the 90 day tariff war between the US and China, and fresh economic data points to the need for the US Fed to cut rates again soon.
The data in question showed deceleration in the world’s largest economy in April, including drops in producer prices, manufacturing output, and a slowdown in retail sales.
U.S. Treasury yields fell sharply after that data was released, suggesting investors think it will push the nation’s central bank to cut interest rates (at least) twice this year.
Right now, ASX futures are pointing to Australian shares following the Wall Street rally. We’ll keep you updated!
