Morning all
Thanks Matluc and AM crew
SPI -17 @ 5586
Investors sent the ASX tumbling yesterday ahead of an onslaught of economic data this week and turmoil over immigration and trade uncertainty in the United States.
There was broadbased selling with technology stocks weighing heaviest. During a session of thinned Asian trading with Chinese markets closed, oil prices slid, meaning there was no support from resource heavyweights.
Investors are also positioning ahead of both the Bank of Japan and US Federal Reserve meetings this week and Chinese manufacturing data over the next few days, culminating in Friday's US non-farm payrolls data. 1
The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each closed down 0.9%.
The Dow Jones industrial average fell around 175 points after sliding more than 200 points, dropping below 20,000, with
Goldman Sachs and Chevron contributing the most losses. The S&P 500 dropped 0.87 percent, with energy shedding 2 percent.
The Nasdaq composite underperformed, falling 1 percent. The three major indexes were also on track for their worst day since Oct. 11.
Worries about the wife abusing Orange Reptile are now beginning to set in. Peter Cardillo, chief market economist at First Standard Financial said "We're having this ongoing worry effect that could overtake earnings and economic data."
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Oil prices fell on Monday as news of another increase in U.S. drilling activity spread concern over rising output just as many of the world's oil producers are trying to comply with a deal to pump less in an attempt to prop up prices.
The number of active U.S. oil rigs rose to the highest since November 2015 last week, according to Baker Hughes data, showing drillers are taking advantage of oil prices above $50 a barrel.
U.S. crude futures settled down 54 cents, or 1 percent, at $52.63.
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Copper - .87%
Nickel + 2.24%
Zinc + 1.43%
Aluminium -1%
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Gold prices ended the U.S. day session moderately higher on a corrective rebound from recent selling pressure that saw prices hit a three-week low last Friday. A lower U.S. dollar index on this day also aided the precious metals market bulls. There was even a bit of safe-haven demand seen in the gold market. 4
Gold $ 1196
HUI - .4%
AUD Gold $ 1184
AUD .7552
Have a good day
1 SMH
2 & 3 CNBC
4 *****
