Australian shares are set to open up as Wall Street shrugged off mixed US economic data and instead looked to positive earnings from the big banks.
BHP flat Rio -0.5% Atlassian +4.1%The local currency was down -0.1% to 68.11 US centsThe yield on the US 10-year note was down 3 basis points to 3.78%. The two-year bond was at 4.75%.Tapas Strickland, NAB head of market economics: “NAB is expecting employment growth of +10k and for the unemployment rate to be unchanged at 3.60 per cent .
Reports on the economy came in mixed. One said that sales at US retailers grew by less last month than economists expected, marking a slowdown from May’s growth. But economists said underlying sales trends, which exclude automobiles, gasoline and other items, were stronger than expected in June. Chris Rupkey, chief economist at FWDBONDS: “A big fat zero for retail sales in the second quarter as higher inflation has taken a toll on consumer confidence and left shoppers with fewer real dollars to make the purchases necessary to help the economy grow. There hasn’t been a blowout quarter for consumer spending since the first half of 2022.
Philippines Latest News, Philippines 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 slips; Endeavour, IGO shares tumbleShares edge lower at open; Wilsons lifts Neuren price target; IGO flags $880m to $980m impairment; Whitehaven expects higher production costs in FY23. Follow here for more.
Read more »
ASX to inch down with new era for RBA in focusAustralian shares are set to inch down as investors look towards Tuesday’s Reserve Bank board minutes while the Fed is still expected to lift rates.
Read more »
ASX to open lower; US earnings season looks solid, says BofAAustralian shares are set to open down but US shares are rallying as analysts predict a solid earnings season ahead and investors punt on a pause in Fed interest rates rises.
Read more »
The questions Australian selectors have to answer ahead of the fourth Ashes TestThe case for and against David Warner retaining his opener spot as Australia faces tough selection choices ahead of the fourth Ashes Test at Old Trafford.
Read more »
Australian Wimbledon great hails Alcaraz as he seizes throne from DjokovicSpanish 20-year-old Carlos Alcaraz has won his first Wimbledon men's title, defeating seven-time champion Novak Djokovic 1-6 7-6 (8-6) 6-1 3-6 6-4.
Read more »