The Australian sharemarket is set to open sharply lower after US stocks retreated as a deadly blast at a Gaza hospital complicated efforts to rein in the Israel-Hamas war.
The Australian sharemarket is set to open sharply lower on Thursday after US stocks retreated and oil climbed as Iran intensified its rhetoric against Israel following anthat complicated diplomatic efforts to rein in the Middle East conflict.
ASX futures fell 80 points, or 1.1 per cent, to 7021 as of 6:19 am AEDT. Overnight on Wall Street, megacaps drove the market lower, with Tesla down 4.7 per cent ahead of its results. Morgan Stanley sank the most since 2020 as profit fell due to an investment-banking slowdown. United Airlines lost 9 per cent after warning the Israel-Hamas war and higher fuel costs would weigh on earnings.
The S&P 500 fell 1.2 per cent as of 6:14 am AEDT, while the Dow Jones Industrial Average shed 0.9 per cent and the Nasdaq 100 slumped 1.6 per cent. The Aussie dollar traded at 63.37 US cents, down 0.4 per cent. US stocks retreated after a deadly blast at a Gaza hospital complicated diplomatic efforts to rein in the Middle East conflict.“The risks of an escalation have risen on the back of the latest news reports regarding the hospital bombing,” said Jane Foley, head of foreign-exchange strategy at Rabobank. While there have been few signs of panic, “on any clear escalation, we can expect to see a ratcheting up of risk aversion,” she said.
Treasuries pared their slide after strong demand in a 20-year bond auction. West Texas Intermediate oil approached $US90, before trimming gains. It was up 1.9 per cent at $US88.34 at 6:12 am AEDT. With investors seeking safe havens, gold futures rose 1.4 per cent to $1950.27 an ounce.
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 200 LIVE: ASX to rise, S&P 500 gains 1pc, oil easesAustralian shares are set to advance. Quarterly mining production reports pending. Wall Street rises on techs. $A rebounds. Follow updates here.
Read more »
ASX 200 LIVE: ASX to open higher, S&P 500 slips, Bullock chat, China dataAustralian shares are set for a modest opening advance. Two RBA speeches early, China GDP at 1pm. REA Group in focus. Follow updates here.
Read more »
It was Wall Street’s wildest ride and this Aussie director knows whyCraig Gillespie has lived in the US long enough to understand how small-town dreamers broke the big guys in the story of Dumb Money.
Read more »
Live updates: ASX to open slightly higher after a mixed session on Wall Street, Chevron and unions strike a dealLocal shares are set to open slightly higher, after a mixed session on Wall Street. Follow the day's financial news and insights in our live blog.
Read more »
ASX: QAN: Proxy firm Ownership Matters tells Qantas investors to vote against Todd SampsonMarketing guru Todd Sampson is the next Qantas director who could feel the ire of shareholders at the company’s annual meeting next month.
Read more »
Before the Bell: ASX to drop, oil rises, US bond yields advanceAustralian shares are set to tumble 1pc at the open amid heightening tensions in the Middle East. Tesla, Netflix to report. October jobs data pending.
Read more »