ASX futures shrug of Wall Street lead to point lower. Michael Hill earnings ahead. Bendigo & Adelaide Bank trades ex-dividend. Follow for more.
The S&P 500 ended the final session of the week higher , with a late spike, as the latest batch of data pointed to an ever resilient US consumer, potentially slowing the pace of rate cuts. On Wall St at the close: Dow +0.6 per cent S&P +1 per cent Nasdaq +1.1 per centThe benchmark S&P 500 finished August with a 2.3 per cent gain for the month. It’s now up 18.4 per cent so far this year and is within 0.4 per cent of the all-time high it set in July.
The last four Septembers have also been notably weak, with the index posting respective declines of 4.9 per cent, 9.3 per cent, 4.8 per cent, and 3.9 per cent. US markets will be closed on September 2 for the Labor Day holiday. The release of the Federal Reserve’s favourite inflation number, the personal consumption expenditures index, showed that yearly inflation was 2.5 per cent. That was in line with both the previous month and with economists’ forecasts.
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