Markets Overview
- ASX SPI 200 futures down 0.3% to 7,240.00
- Dow Average down 0.7% to 34,499.45
- Aussie up 0.5% to 0.7345 per US$
- U.S. 10-year yield little changed at 1.6118%
- Australia 3-year bond yield rose 5bps to 0.52%
- Australia 10-year bond yield rose 8bps to 1.72%
- Gold spot down 0.2% to $1,754.07
- Brent futures up 1.4% to $83.57/bbl
Economic Events
- 9:30am: (AU) Oct. ANZ Roy Morgan Weekly Consumer, prior 104.6
- 11am: (AU) Australia to Sell A$150 Million 0.75% 2027 Bonds
- 11:30am: (AU) Sept. NAB Business Confidence, prior -5
- 11:30am: (AU) Sept. NAB Business Conditions, prior 14
The surge in energy prices fueled stock volatility amid an intensifying debate on whether inflation pressures will be transitory or derail the economy.
Traders also assessed a news report that China is expanding its crackdown to banks. The S&P 500 closed near session lows. West Texas Intermediate crude climbed above $80 a barrel for the first time since late 2014 as a power crisis from Europe to Asia boosts demand for oil. Aluminum, the energy-intensive metal that’s used in everything from beer cans to iPhones, hit a 13-year high. Treasury futures fell, with the cash market closed for Columbus Day.
Other News
Nature lovers take note.
Samantha Dehring, 25, of Carol Stream, Illinois, has been fined and ordered to serve four days in federal custody for getting too close to a mother grizzly bear and her cubs at Roaring Mountain in Yellowstone National Park, the National Park Service said.
She pleaded guilty Wednesday to willfully remaining, approaching and photographing wildlife within 100 yards (91 meters). “The park is not a zoo,” said Bob Murray, acting U.S. Attorney for the District of Wyoming.
The bear was none too pleased either. It charged toward Dehring while she was snapping a photo on May 10. The NPS cautions that grizzly bears are “agile” and “can run up to 40 mph (64 kilometers per hour).”
