Australia
ASX futures had added 24 points or 0.3% as of 6:00am on Wednesday, pointing to a positive open.
North America
US indices ended mixed on Tuesday ahead of the release of March consumer-price data due later this week.
- S&P 500 closed flat
- Dow Jones Industrial Average gained 0.3%
- Nasdaq Composite fell 0.4%
Investors remained focused on interest rates ahead of the Federal Reserve’s next policy meeting, scheduled for May 2–3. Traders are increasingly expecting another 0.25% rate hike following strong labor data. Key inflation data due Wednesday and comments from central bankers this week will shape expectations further.
In commodity markets:
- Brent crude oil rose 1.7% to $US85.63 a barrel
- Gold gained 0.7% to US$2,004.58
Bond market:
- Australian 2 Year yield: 2.88%
- Australian 10 Year yield: 3.22%
- US 2 Year yield: 4.05%
- US 10 Year yield: 3.43%
Currency:
- Australian dollar: 66.50 US cents
- WSJ Dollar Index: 98.65
Asia
Chinese shares ended mixed amid signs of weak inflation. Consumption and property stocks rose, while telecoms fell. The Shanghai Composite Index slipped 0.1% to 3313.57.
Hong Kong's Hang Seng Index rose 0.8% to 20485.24, boosted by property stocks after soft inflation data.
Japanese stocks gained on easing policy fears. Nikkei rose 1.0% to 27923.37. Electronics and trading firms led gains.
India's Sensex added 0.5% to 60157.72, with banks and industrials rising ahead of earnings season.
Europe
European stocks climbed despite a pessimistic IMF forecast.
- Stoxx Europe 600: +0.6%
- CAC 40: +0.9%
- DAX: +0.4%
UK's FTSE 100 gained 0.6%, led by miners and oil stocks. Shell rose 0.6% after announcing a carbon capture partnership.
North America – Corporate Highlights
Investor focus shifts toward earnings and inflation outlook:
- Newmont raised its offer for Newcrest Mining to $19.5B; shares fell 2.3%
- CarMax jumped 9.7% on better-than-expected Q4 earnings
- Mohawk Industries: +5.7%
- Whirlpool: +3.8%
- CF Industries and Mosaic: +4%+
- Moderna fell 3.1% after flu vaccine trial disappointment
