Australia Shares Set to Fall Despite U.S. Gains

Author: Miles Brown…

Australia Shares Set to Fall Despite U.S. Gains

Australian equity futures are pointing to an opening fall despite a positive lead from U.S. indices. ASX futures are down by 0.4% ahead of Thursday's session, suggesting that the S&P/ASX 200 benchmark index will give back at least some of its 0.7% gain from the previous session.

Market Outlook

On Wednesday, the ASX 200 rallied from an early stumble after lower-than-expected inflation eased worries of another near-term interest-rate rise by the country's central bank. U.S. equities finished higher amid a decline in oil prices, with all three major indices hitting a record close. The DJIA rose 0.4%, the Nasdaq Composite gained 0.1%, and the S&P 500 inched higher by less than 0.1%.

Impacted Symbols

Symbols affected by this headline and their sentiment signals

IXICPositive

NASDAQ Composite Index

Despite a record close, the expected decline in Australia may limit positive spillover to tech stocks.

Impact score60%

XJONegative

S&P/ASX 200 Index

Futures are down 0.4%, indicating the index will give back some of its previous gains.

Impact score85%

SPXPositive

S&P 500

Despite a record close, the expected decline in Australia may limit positive impact on the index.

Impact score60%

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