Markets Overview
- ASX SPI 200 futures little changed at 7,423.00
- Dow Average up 0.8% to 35,064.25
- Aussie up 0.3% to 0.7400 per US$
- U.S. 10-year yield rose 3.7bps to 1.2202%
- Australia 3-year bond yield rose 1bp to 0.27%
- Australia 10-year bond yield rose 1bp to 1.16%
- Gold spot down 0.4% to $1,804.41
- Brent futures up 1.3% to $71.30/bbl
Economic Events
- 9:30am: (AU) RBA’s Lowe Testimony to Parliament Committee
- 11am: (AU) Australia to Sell A$700 Million 0.25% 2025 Bonds
- 11:30am: (AU) RBA Statement on Monetary Policy
U.S. equities gained ahead of Friday’s jobs report as investors balanced corporate results and jobless claims against the economic threat of the delta virus variant.
The S&P 500 and Nasdaq 100 rose to record highs, with Booking Holdings Inc., Fox Corp. and MercadoLibre Inc. higher after earnings. Meanwhile, the dollar was weaker, gold fell and Treasuries slid after initial unemployment claims declined for a second week. Crude oil was higher after several days of losses. Bitcoin rose above $40,000. And in Asia, equities edged up in Japan but slipped in Hong Kong and China.
Other News
For lovers of the outdoors, it is one of the most polarizing questions of our times: Is it ever okay to stack big piles of stones?
The pastime has taken off in recent years, inspired by artists who photograph their elaborate pieces and post them on Instagram. Contests take place around the world where stackers compete to build the tallest or most ambitious sculptures.
Stackers, though, have been blamed for confusing hikers who use traditional cairns — old, man-made rock piles used for navigation — to find their way home. Many U.S. national parks ban stone stacking, saying it could disturb natural habitats or ancient archaeological sites.
Some climbers say rogue rock piles rob them of the feeling of being alone in the wild.
“It erodes the unique identity of places,” says Becky Coles, a mountain guide based in Wales.
John Hourston, an environmental campaigner in Englandwith a particular dislike for rock stacking, encourages people to kick over the stacks, saying it’s a useful form of exercise.
He points to how villagers on the island of Skye, off Scotland’s northwest coast, regularly head to a small valley called the Fairy Glen where they remove the rock sculptures and stacks erected there by visiting tourists and put them back on the hillside from where they were taken. They also hand out leaflets to tour groups reading, “Please remember this is working croft land, not just a ‘film location.’”
