Australian shares to open lower after Wall Street drags
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The news: The Australian sharemarket is set to start the week on the back foot after losses on Wall Street on Friday following weak jobs and consumer sentiment data.
The numbers: Updated at 7:25am AEDT:
- ASX futures: down 64 points or 0.76% at 8,405 points
- Wall Street: Dow Jones down 0.99%, S&P 500 down 0.95%, Nasdaq down 1.36%
- Europe: FTSE 100 down 0.31%, CAC 40 down 0.43%, DAX down 0.53%
- Spot gold: up 0.17% to USD2,861.07 per ounce
- Oil prices: Brent up 0.50% to USD74.66/barrel, US WTI up 0.55% to USD71.00/bbl
- AUD: down 0.11% at 62.66 US cents
- Bitcoin: up 0.18% to USD96,652.99
The context: All three US stock indices closed lower on Friday after a survey showed US consumer sentiment dropped unexpectedly in February to a seven-month low and inflation expectations rocketed.
Another report showed US jobs growth slowed more than expected in January after robust gains in the prior two months, although a 4% unemployment rate will likely give the Fed cover to hold off cutting interest rates at least until June.
Markets are also concerned after US President Donald Trump said he plans to announce reciprocal tariffs on several countries this week.
What to watch: Half-year results from Ansell, online vehicle marketplace CAR Group and electronics retailer JB Hi-Fi, among others.
The source: Bloomberg
