Australian (ASX) Stock Market Forum

Today's trading on the ASX

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Futures are pointing down 30 points or 0.3 per cent .

AUD up 0.4% to US65.31¢
Gold up 0.6% to $US3417.08 an ounce
Brent oil up 0.4% to $US68.33 a barrel
Iron ore up 2% to $US104.50 a tonne
Ten year Bond yield: US 4.20%, Australia 4.28%
 
The ASX is looking red in futures on the last day of earnings, but that could easily change in early trade, considering the S&P 500 just sizzled to yet another all-time high on news the U.S. economy is expanding quite quickly.

Wall Street traders were buying overnight after stats confirmed the economy in the States was ballooning at a revised 3.3% pace in the second quarter.

That eagerness left the S&P as much as +0.3% higher – and at a new high. The Dow Jones, up +0.16%, and the Nasdaq, which gained +0.5%, had similar days.

All this has come together to put Wall Street “back on its winning track” again, at least for the time being, which should bring most indexes in its wake. To date in this third quarter, the S&P 500 is already +4.8% stronger.

(Also to note here, Wall Street won’t open until Tuesday next week, for Labor Day.)
 
Futures indicate that the S&P/ASX 200 Index will open 0.3 per cent down, shedding 25 points to 8912.

A subdued start to the trading week is expected as US financial markets will be shut on Monday for the Labour Day public holiday.
 
A mixed bag lead today in from other markets.
Unsure of a direction today. Should be a bit slower than yesterday though.
A bit flat with a bit of down, some profit taking in precious metals possible.
 
Australian shares are set to follow Wall Street lower, with SPI futures down 37 points, or 0.4%, to 8,841.

Gold up, Oil and iron ore slightly higher and Bonds firmer with US 10-year yield at 4.28% and Australia 4.35%. The Australian dollar eased 0.5% to 65.17 U.S. cents.

Investors will watch today’s release of second-quarter GDP figures at 11.30am
 
Dona Ferentes said:
Australian shares are set to follow Wall Street lower, with SPI futures down 37 points,
Click to expand...
and kept on going .... worst day since April
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Gold hit a high in AUD terms, silver doing well, and local miners and PM explorers mainly lifted But all index sectors were down
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WES was up 0.5%, CSL down 0.8% , BHP down 1.3% and CBA well off at -3.5%
 
.ASX futures are pointing up 31 points or 0.4 per cent

AUD up 0.5% to 65.51 US¢
Gold up 1.1% to $US3573.51 an ounce
Brent crude down -2.2% to $US67.63 a barrel
Iron ore +0.9% to $US103.40 a tonne

Bonds 10-year : US 4.27% and Australia 4.41% while long-dated euro zone bond yields lingered near multi-year highs.
 
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Wall Street got started on its Week 36 trading after a Labour Day-sized pause, and it’s immediately impacted Australian shares: ASX 200 futures are pointing to a -0.32% loss at open, extending what’s been a red week.

Big tech was one of the post-Labour Day victims, with Nvidia, Amazon, and Apple all contributing to a -0.8% drop for the Nasdaq composite.

The S&P 500 and Dow Jones fared similarly, shaving as much as -0.7% today.

The U.S. isn’t the only bourse weight, though – Oz is getting GDP Q2 data today, too.

While analysts have been pointing to a +0.5% gain there for some days now, Australian traders seem happy to hold fire up that 11.30am data release.
 
Futures suggest the S&P/ASX 200 Index will open 0.2 per cent or 15 points lower on Monday, but investors say it’s only a matter of time before shares resume their climb, taking their cue from a strong run on Wall Street, which briefly hit record highs on Friday before sliding.

At the same time, the news pushed gold to a record high, just cents away from $US3600 an ounce. The metal finished the week 4 per cent higher on Friday, its third-biggest weekly gain this year. Gold has soared 37 per cent so far this year, building on a 27 per cent gain in 2024, driven by geopolitical uncertainty, a weaker US dollar, central bank buying, and a global tide of policy easing.

Lower interest rates are also good news for sharemarkets because they typically lead to lower borrowing costs for businesses. The ASX was already boosted by a stronger than expected earnings season and decent economic data at home.
 
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