ASX to open lower after declines in Europe and US
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The news: The Australian sharemarket is set to fall at market open after the major indices in the US and Europe slipped overnight.
The numbers: Updated at 7:30am AEDT:
- ASX futures: down 17 points, or 0.2% to 7,959 points
- Wall Street: Dow Jones down 0.03%, S&P 500 down 0.22%, Nasdaq down 0.33%
- Europe: FTSE 100 down 0.05%, CAC 40 down 0.95%, DAX down 1.24%
- Spot gold: down 0.11% to USD3,044.37 per ounce
- Oil prices: Brent up 0.25% to USD72.18/bbl, US WTI up 1.7% to USD68.30/bbl
- AUD: down 0.85% to 63.06 US cents
- Bitcoin: down 1.21% to USD84,348.13
The context: All three major Wall Street indices lost ground overnight after a choppy trading session, as investors continued to digest the latest update from the US Federal Reserve.
US equities pulled back after the S&P 500 notched its largest advance for a Federal Reserve day since July in the previous session.
The Fed had appeared to boost sentiment after chair Jerome Powell signalled the central bank saw no need for immediate action amid aggressive tariff announcements by the Trump administration. However, Fed policymakers expect slower economic growth and temporarily higher inflation as a result of the new measures.
