Wall Street closed out its worst month and quarter of the year with more losses on Friday.
The S&P 500 slipped 0.3 per cent and the majority of stocks within the index sank. The Dow Jones fell 0.5 per cent and the Nasdaq composite edged 0.1 per cent higher. The Australian sharemarket is set to retreat, with futures pointing to a fall of 38 points, or 0.5 per cent, at the open.Solid gains for stocks early on faded as pressure built from within the bond market.
The Fed’s main interest rate is at its highest level since 2001, and the central bank indicated last week it may cut interest rates next year by less than it earlier expected. The resumption of US student-loan repayments, meanwhile, may funnel more dollars away from the spending by consumers that has helped to keep the economy afloat.
On the losing end of Wall Street were stocks of energy producers, hurt by the slide in oil’s price. Energy stocks in the S&P 500 fell 2 per cent as a group, more than double the loss of any of the other 10 sectors that make up the index.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX set to open lower as Wall Street closes September with more lossesWall Street closed out its worst month and quarter of the year with more losses on Friday.
Read more »
Wall Street retreats as shutdown loomsShares reversed early gains after hardline Republicans voted against a stop-gap spending measure, signalling the probability of a protracted shutdown.
Read more »
Revoked permits, unstable regimes and insurgent attacks – what can go wrong investing in Africa?An increasing number of ASX-listed mining companies are falling victim to African sovereign risk.
Read more »
Revoked permits, unstable regimes and insurgent attacks – what can go wrong investing in Africa?An increasing number of ASX-listed mining companies are falling victim to African sovereign risk.
Read more »
Revoked permits, unstable regimes and insurgent attacks – what can go wrong investing in Africa?An increasing number of ASX-listed mining companies are falling victim to African sovereign risk.
Read more »
‘Remarkable recovery’: National home prices reach record high in SeptemberNational property prices jumped 0.35 per cent in September to a new record high, recovering all of the losses suffered last year. The PropTrack Home Price Index released on Sunday showed property prices have lifted every month this year. REA Group Economist Angus Moore says the property market has had a “pretty remarkable recovery” since December 2022. “We saw prices fall pretty briskly through the back half of last year as the RBA was raising rates,” Mr Moore told Sky News Business Reporter Edward Boyd. “Since December last year prices nationally are up 4.3 per cent and as you say they’ve increased every single month which is a pretty remarkable recovery given where we’re at.” In partnership with REA
Read more »