Markets Overview

  • ASX SPI 200 futures down 0.1% to 6,909.00
  • Dow Average down 0.3% to 31,730.30
  • Aussie down 1.2% to 0.6855 per US$
  • U.S. 10-year yield fell 7.2bps to 2.8515%
  • Australia 3-year bond yield fell 5bps to 2.90%
  • Australia 10-year bond yield fell 8bps to 3.43%
  • Gold spot down 1.6% to $1,821.94
  • Brent futures up 0.4% to $107.96/bbl

Economic Events

  • 11am: (AU) Australia to Sell A$1 Billion 1.25% 2032 Bonds
  • 12pm: (AU) RBA’s Bullock-Panel

Stocks rebounded sharply in the final hour of New York trading, with the S&P 500 almost wiping out a selloff that pushed it to the brink of a bear market earlier Thursday.

The turnaround came as Federal Reserve Bank of San Francisco President Mary Daly told Bloomberg News that a 75-basis-point increase in rates is “not a primary consideration,” while adding that the US is in a strong place and should be able to withstand monetary tightening. For a market that’s been haunted by fears that restrictive policy could cause a recession, those comments offered a degree of comfort at the end of a day marked by brutal volatility.

The caution born from rising rates held firm on Thursday as data showed prices paid to US producers rose more than forecast in April, reinforcing bets the Fed will further tighten policy. Treasuries rose with the dollar as investors sought haven assets.

Other News

Gianna Pecchia, also known as “The Kickball Cupid” in the kickball community, intended to find love on online dating apps, instead she found recruits for her kickball team.

Pecchia of Pawtucket, Rhode Island, is a part of Clubwaka, an adult sports league, originally founded as the World Kickball Association.

Pecchia used Tinder to find 25 players this kickball season – 18 for her own team and seven to help fill three other teams in the league.

But after a very successful recruiting process, Tinder banned Pecchia indefinitely for violating their promotion or solicitation rules.

“One day, I went to log in, and it said you’re banned for life. For life! — it seems a little severe,” Pecchia told Clubwaka. “So that put a huge deterrent in my recruiting.”

After being banned from Tinder, Pecchia started recruiting potential teammates on Bumble BFF, another online dating and friendship app.

In an email to USA TODAY Sports, Tinder communications spokesperson Sophie Sieck said they’ve reviewed Pecchia’s case and she was “appropriately banned for violating one of our community guideline.” Further, Tinder is not able to “provide a formal statement on the details of individual member accounts.”

(USA Today)