- ASX SPI 200 futures little changed at 7,426.00
- Dow Average down 0.6% to 33,765.95
- Aussie down 0.6% to 0.7056 per US$
- U.S. 10-year yield rose 4.3bps to 3.5477%
- Australia 3-year bond yield fell 2 bps to 3.19%
- Australia 10-year bond yield fell 2.5 bps to 3.53%
- Gold spot down 0.3% to $1,922.82
- Brent futures down 2.3% to $84.70/bbl
- 11:30: (AU) Dec. Private Sector Credit YoY, prior 8.9%
- 11:30: (AU) Dec. Private Sector Credit MoM, est. 0.5%, prior 0.5%
- 11:30: (AU) Dec. Retail Sales MoM, est. -0.2%, prior 1.4%
Technology stocks dragged the S&P 500 lower as traders remained cautious going into a week that includes the Federal Reserve’s interest-rate decision and earnings from big-tech companies including Alphabet Inc. and Meta Platforms Inc.
The S&P 500’s losses exceeded 1%. The tech-heavy Nasdaq 100 dropped nearly 2% before trimming declines. Both indexes were weighed by declines in Microsoft Corp., Apple Inc., Nvidia Corp. and Tesla Inc.
Treasury yields climbed, with the benchmark 10-year rate around 3.55%. A dollar index rose. Oil fell, with the West Texas Intermediate sliding below $78 a barrel as traders await clues about the Fed’s path ahead.
Traders are also awaiting the US jobs report later this week. A less tight labor market is a key goal for the Fed. Investors have also been parsing a slew of earnings reports, with more to come throughout the week. Signs of earnings pressure have been raising concerns about the health of the economy and the outlook for equities.
Get your used theme park water!
Baggies and bottles of “Genuine Splash Mountain water” from Disney World for sale!
On the heels of fans enjoying one last ride aboard Splash Mountain before it closed Sunday for renovations at Walt Disney World, eBay sellers have listed small quantities allegedly collected during the attraction’s final day of operation.
Is it authentic? It’s possible the water could’ve been taken from other sources, but multiple sellers on the e-commerce website are claiming to sell small quantities of “genuine Splash Mountain water” from the three-decade old log flume ride.
On Thursday, prices for the alleged used H2O ranged from a couple of bucks into the thousands.
On Thursday, one 16.9-ounce bottle was going for $10,100. (No joke: As of Thursday, there were 39 bids.)
Another listing offered a “Great Value Sandwich Bag of Toilet Water from Restroom by Splash Mountain.”
Splash Mountain opened at Florida’s Walt Disney World Magic Kingdom Park in 1992.
In 2020, Disney announced it would replace the ride’s controversial “Song of the South” theme with “The Princess and the Frog.”
While the announcement came on the heels of a Change.org petition calling for the swap, Disney noted it had already been working on the overhaul since 2019. Critics have called Disney’s 1946 film “Song of the South” a glossed-over portrayal of slavery.
On Sunday, the ride’s last day in operation, fans traveled in droves to Magic Kingdom in Florida for one last ride on the iconic attraction, pushing wait times as high as 220 minutes.