AU Morning Wrap: Wall Street drops ahead of Fed interest rate decision; ASX opens lower
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• US stocks and oil prices tumbled on Monday
• Australia shares opened lower on Tuesday; ASX 200 down 0.77 per cent
• Stocks to watch: Rio Tinto, Qantas, News Corp
- moomoo News AU
Wall Street Summary
Stocks and oil prices tumbled Monday as investors awaited a likely interest-rate increase by the Federal Reserve later this week.
The technology-focused $Nasdaq Composite Index (.IXIC.US)$ dropped 262.59 points, or 2%, to 12581.22, its lowest level since December 2020. The $S&P 500 Index (.SPX.US)$, which has fallen for four of the five past weeks, declined 31.20 points, or 0.7%, to 4173.11. The $Dow Jones Industrial Average (.DJI.US)$ edged up 1.05 points to 32945.24, snapping a two-session losing streak.
AU Market Watch
Australia's $S&P/ASX 200 (.XJO.AU)$ is on track to fall at the open after U.S. stocks gave up early gains as investors continued to monitor developments in Ukraine. ASX futures are down by 0.9%, suggesting at least some retracement from the ASX 200's 1.2% gain on Monday. Minutes from the Reserve Bank's most recent board meeting will be released during Tuesday's session, and will be parsed by investors for clues on the central bank's thinking on the timing of interest-rate rises.
Australia shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.77 per cent to 7094 as of 10:19 am.
Stocks and oil prices tumbled Monday as investors awaited a likely interest-rate increase by the Federal Reserve later this week.
The technology-focused $Nasdaq Composite Index (.IXIC.US)$ dropped 262.59 points, or 2%, to 12581.22, its lowest level since December 2020. The $S&P 500 Index (.SPX.US)$, which has fallen for four of the five past weeks, declined 31.20 points, or 0.7%, to 4173.11. The $Dow Jones Industrial Average (.DJI.US)$ edged up 1.05 points to 32945.24, snapping a two-session losing streak.
AU Market Watch
Australia's $S&P/ASX 200 (.XJO.AU)$ is on track to fall at the open after U.S. stocks gave up early gains as investors continued to monitor developments in Ukraine. ASX futures are down by 0.9%, suggesting at least some retracement from the ASX 200's 1.2% gain on Monday. Minutes from the Reserve Bank's most recent board meeting will be released during Tuesday's session, and will be parsed by investors for clues on the central bank's thinking on the timing of interest-rate rises.
Australia shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.77 per cent to 7094 as of 10:19 am.
Stocks to Watch
$Rio Tinto Ltd (RIO.AU)$ has launched a $US2.7 billion ($3.7 billion) bid to assume full ownership of the Canadian company that owns 66 per cent of the giant Oyu Tolgoi copper project in Mongolia.
$Qantas Airways Ltd (QAN.AU)$ has inked a deal to fill its jets with 8 million litres of low-carbon alternative jet fuel annually from airports in California as part of the airline’s efforts to reduce its planet-heating emissions.
Ex-dividend Companies
$News Corp (NWS.AU)$ $Gryphon Capital Income Trust (GCI.AU)$ $Generation Development Group Ltd (GDG.AU)$ $IVE Group Ltd (IGL.AU)$ $Macmahon Holdings Ltd (MAH.AU)$ $Sandfire Resources Ltd (SFR.AU)$
Commodities
• Iron ore prices plunged below US$150 a tonne as China reimposed severe lockdowns across several major industrial provinces.
• Oil prices slid as Russian exports still seem to be flowing and on concerns that China’s ‘zero tolerance policy’ will weigh on near-term oil demand.
• Gold continued to pull back ahead of the Fed’s tightening.
Source: Dow Jones Newswires, Market Index
$Rio Tinto Ltd (RIO.AU)$ has launched a $US2.7 billion ($3.7 billion) bid to assume full ownership of the Canadian company that owns 66 per cent of the giant Oyu Tolgoi copper project in Mongolia.
$Qantas Airways Ltd (QAN.AU)$ has inked a deal to fill its jets with 8 million litres of low-carbon alternative jet fuel annually from airports in California as part of the airline’s efforts to reduce its planet-heating emissions.
Ex-dividend Companies
$News Corp (NWS.AU)$ $Gryphon Capital Income Trust (GCI.AU)$ $Generation Development Group Ltd (GDG.AU)$ $IVE Group Ltd (IGL.AU)$ $Macmahon Holdings Ltd (MAH.AU)$ $Sandfire Resources Ltd (SFR.AU)$
Commodities
• Iron ore prices plunged below US$150 a tonne as China reimposed severe lockdowns across several major industrial provinces.
• Oil prices slid as Russian exports still seem to be flowing and on concerns that China’s ‘zero tolerance policy’ will weigh on near-term oil demand.
• Gold continued to pull back ahead of the Fed’s tightening.
Source: Dow Jones Newswires, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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