Australian shares set to fall after Wall Street dip
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The news: The Australian sharemarket is set to open lower after a dip on Wall Street where investors mulled over inflation risks.
The numbers: Updated at 7:25am AEDT:
- ASX futures: down 37 points or 0.44% at 8,306 points
- Wall Street: Dow Jones up 0.11%, S&P 500 down 0.03%, Nasdaq down 0.20%
- Europe: FTSE 100 up 0.07%, CAC 40 down 0.49%, DAX down 0.05%
- Spot gold: up 0.44% to USD2,660.17 per ounce
- Oil prices: Brent down 1.10% to USD76.20/barrel, US WTI down 1.20% to USD73.36/bbl
- AUD: down 0.29% at 62.13 US cents
- Bitcoin: down 2.99% to USD94,068.71
The context: US stocks dropped after two conflicting sets of jobs data and a report that said Donald Trump is considering building the new tariff program under a law that authorises a president to manage imports during a national emergency, adding to fears that price pressures may remain sticky from the impact of policies of the incoming administration.
Earlier, data showed US private payrolls growth slowed sharply in December, although a separate Labor Department report said jobless claims for the previous week fell.
What to Watch: Local retail trade and international trade in goods data for November; and China’s National Bureau of Statistics (NBS) will release CPI and PPI inflation for December.
The source: Bloomberg
