ASX to open lower, tracking declines in US and Europe
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The news: The Australian sharemarket is due to fall at market open following losses on the major indices on Wall Street and across Europe overnight.
The numbers: Updated at 8:30am AEDT:
- ASX futures: down 36 points or 0.4% at 8,229 points
- Wall Street: Dow Jones down 0.97%, S&P 500 down 0.94%, Nasdaq down 1.19%
- Europe: FTSE 100 down 0.35%, CAC 40 down 0.57%, DAX down 0.38%
- Spot gold: down 0.55% to USD2,606.95 per ounce
- Oil prices: Brent up 0.14% to USD74.09/barrel, US WTI up 0.78% to USD71.15/bbl
- AUD: up 0.1% at 62.20 US cents
- Bitcoin: up 1% to USD94,135.75
The context: Wall Street trading volumes were thinner due to the holiday season. The S&P 500 and the Nasdaq 100 declined for the third consecutive session. Six of the seven so-called 'Magnificent Seven' tech giants ended lower, with only Nvidia rising.
Despite the recent decline, the S&P 500 remains on track for its second successive yearly advance of over 20%.
What to watch: The ASX will close early today, at 2:10pm AEDT. The market will be closed for New Year's Day and re-open on Thursday.
China's National Bureau of Statistics will publish monthly manufacturing and non-manufacturing purchasing managers index (PMI) data at 12:30pm. Research group Caixin will release its own PMI figures on 2 January.
The source: Bloomberg
