The ASX might take a battering on Monday as all global markets were deeply in the red overnight.
In Europe, the FTSE fell 71 points (.86%), the DAX fell 102 points (.50%) and the CAC fell 59 points (.79%).
UK is likely to be forced into emergency spending cuts to curb debt levels.
In the US, all markets declined.
The DOW fell 696 points (1.63%), the NBI fell 79 points (1.82%), the NASDAQ Composite fell 317 points (1.63%) and the Russell small cap index fell heavily by 49 points (2.22%).
US jobs report showed 256k jobs added in December. This was well above market expectations of 165k and above the November figure of 212k.
Unemployment fell to 4.1%.
Good news for some but very bad news on the interest rate outlook. The strong data is prompting concerns that the US Fed will pause on interest rate cuts and even fears that there could be a rate hike in early 2025.
Concerns over the Trump administration policies that could increase inflation are also on the minds of the markets.
Fall in the Russell small index also would indicate a more risk averse sentiment in the markets.
Huge surge in bond rates and these are getting close the dangerous 5% range which will heavily impact the share markets.
US core PCE is up to 2.8% in November (up from 2.7% in October.
US Treasury 10 year bond yield rose to 4.774%
Oil prices rose to US$79.79 per barrel.
Gold price rose to US$2,690 per oz.
BITCOIN price also rose to US$94,735.
May the force be with you.
IMU Price at posting:
4.3¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)