Morning Wrap: ASX 200 to edge lower, Dow posts best week of 2024, gold eyes best performance in five weeks
ASX 200 futures are down 15 points to 7,765, as of 8:20am AEST.
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ASX 200 futures are trading 52 points lower, down -0.68% as of 8:30 am AEST.
Equities were firmer and bond yields edged higher ahead of this week’s key economic data. The April jobs report for Australia, US inflation data, and the Federal Budget are all in focus. Meanwhile, a quiet record of sorts was reached on Friday - the Dow Jones is now up eight sessions in a row and last week was the index's best week for 2024.
European stocks also hit record highs, with the UK benchmark leading the way thanks to data which confirmed the UK has exited recession. Finally, gold has extended its gains again - will anything stop the yellow metal?
Let's dive in.
Overnight Summary
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
 S&P 500 | 5,305 | +0.70% |
Dow Jones | 39,070 | +0.01% |
NASDAQ Comp | 16,921 | +1.10% |
Russell 2000 | 2,070 | +1.04% |
Country Indices | ||
 Canada | 22,321 | +0.54% |
 China | 3,089 | -0.88% |
 Germany | 18,693 | +0.01% |
 Hong Kong | 18,609 | -1.38% |
 India | 75,410 | -0.01% |
 Japan | 38,646 | -1.17% |
 United Kingdom | 8,318 | -0.26% |
Name | Value | % Chg |
|---|---|---|
Commodities (USD) | ||
 Gold | 2,334.5 | -0.12% |
 Iron Ore | 117.66 | +0.11% |
 Copper | 4.7535 | -0.81% |
 WTI Oil | 77.72 | +1.11% |
Currency | ||
 AUD/USD | 0.6629 | +0.35% |
Cryptocurrency | ||
 Bitcoin (AUD) | 103,344 | -0.87% |
 Ethereum (AUD) | 5,803 | +2.72% |
Miscellaneous | ||
US 10 Yr T-bond | 4.467 | -0.18% |
VIX | 11.93 | -6.58% |
Please note: There has been some issues with this morning's Market Data. We will look to have these erroneous figures rectified as soon as possible.
S&P 500 SESSION CHART
A downturn caused by the latest consumer sentiment figures was gradually recouped. (Source: TradingView)
OVERNIGHT MARKETS
Dow jumps more than 100 points to post 8th winning day and best week of 2024
Europe stocks close at fresh record highs; UK exits recession
Treasury yields rise as new data shows expectations of higher inflation
Oil falls on prospect of higher-for-longer U.S. interest rates, stronger dollar
Gold extends gains as jobs data reinforces U.S. rate cut bets
INTERNATIONAL STOCKS
Apple close to agreement with OpenAI to use its technology on iPhone
Arm to develop AI chips, plan to launch first products in 2025
Chipotle, Wingstop, Sweetgreen focus on higher-income consumers helping buck broader consumer slowdown
AI, cloud computing, advanced manufacturing continue to face electricity roadblock
CENTRAL BANKS
Rents and housing costs remain an overhang to Fed rate path outlook
Frequency of Fed communication may be contributing to market volatility
BoE likely to choose cautious rate cutting path when it begins cutting cycle
ECONOMY
US CPI expected to show first moderation in six months
China’s consumer prices rise for third month, signaling demand recovery
South Korea prepares support package worth over $7 billion for the chip industry
China loses spot to U.S. as Germany’s biggest trading partner
Key Events
Upcoming floats and listings
D3 Energy – 13 May @ 11 am
Sun Silver – 15 May @ 11am
Companies trading ex-dividend:
ANZ Group Holdings (ANZ) – 13 May - $0.83
Macquarie Group (MQG) – 13 May - $3.85
Tasmea (TEA)– 14 May - $0.025
Sandon Capital Investments (SNC) – 15 May - $0.028
Autosports Group (ASG) – 16 May - $0.10
Economic calendar (AEST):
11:30 am – AUD – NAB Business Confidence
1:00pm – NZD – Inflation expectations
Tentative – EUR – EU economic forecasts
10:30pm – CAD – Building permits
This Morning Wrap was written by Hans Lee and Chris Conway.
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