Investors are bracing for heightened volatility this week as the US resumes regular economic data releases following the government shutdown and the world’s largest company Nvidia hands down a critical earnings report.
Futures indicate the S&P/ASX 200 will open 0.2 per cent lower on Monday, extending Friday’s sell-off that wiped $37 billion off the market’s value and dragged the benchmark to its lowest level since mid-July.
The Australian bourse will take a soft lead from Wall Street, where a rebound in technology stocks faded on Friday as traders scaled back bets on interest rate cuts by the US Federal Reserve, and questioned the sky-high valuations of artificial intelligence stocks. The S&P 500 closed flat, and the Nasdaq edged higher.
While investors were relieved by the end of a historic US government shutdown, they soon shifted their attention and concerns to what the Bureau of Labor Statistics September jobs data release will be like later this week. Economic data, including inflation reports, were delayed because of the shutdown.
ASX 200 futures are pointing down 17 points or 0.2 per cent to 8626.
- AUD +0.1% to US65.36¢
- Bitcoin -3.9% to $US95,004
- On Wall St: Dow -0.7% S&P -0.05% Nasdaq +0.1%
- VIX +0.17 to 19.83
- Gold -2.2% to $US4080.74 an ounce
- Brent oil +1.9% to $US64.23 a barrel
- Iron ore -0.3% to $US102.50 a tonne
- 10-year yield: US 4.15% Australia 4.43%