Markets Overview
- ASX SPI 200 futures down 0.8% to 7,805.00
- Dow Average down 0.5% to 39,671.04
- Aussie down 0.7% to 0.6619 per US$
- US 10-year yield little changed at 4.4218%
- Australia 3-year bond yield rose 4 bps to 3.93%
- Australia 10-year bond yield rose 3.4 bps to 4.29%
- Gold spot down 1.8% to $2,378.50
- Brent futures down 1.5% to $81.64/bbl
Economic Events
- 09:00: (AU) May Judo Bank Australia PMI Servic, prior 53.6
- 09:00: (AU) May Judo Bank Australia PMI Compos, prior 53.0
- 09:00: (AU) May Judo Bank Australia PMI Mfg, prior 49.6
- 10:30: (AU) Australia to Sell A$1 Billion 126-Day Bills
- 10:30: (AU) Australia to Sell A$1 Billion 77-Day Bills
- 11:00: (AU) May Consumer Inflation Expectation, prior 4.6%
Asian equities were set for a mixed open Thursday as results for Nvidia Corp. supported tech stocks in late trading. An index of dollar strength touched a one-week high as US yields rose.
Equity futures for Australia and Hong Kong fell, while those for Japan rose. The S&P 500 fell 0.3% while the Nasdaq 100 was little changed Wednesday. Post-market results for Nvidia sent its shares as much as 7% higher in after-hours trading in New York.
The chip giant said second-quarter revenue will be about $28 billion — beating estimates. The company also announced a 10-for-1 stock split and boosted its quarterly dividend by 150% to 10 cents a share.
Selling in Treasuries pushed yields higher at the front end of the curve on Wednesday. The 10-year yield was little changed, but the policy-sensitive two-year year rose four basis points as the latest Federal Reserve minutes showed officials remain in no rush to cut rates.
