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Wall Street Retreats as Oil Prices Continue to Rise, ASX Set to Slip
Higher oil prices and Middle East tensions deepened inflation worries, with the S&P 500 falling 0.5% and the Dow dropping 652.82 points.
- ASX 200 Index futures point to a 0.5% decline on Monday, set to open at 8774 points following Friday's weak session on Wall Street.
- Global oil prices surged 3.1% to $US116.72 per barrel, reaching their highest level since April as traders assessed risks of a broadening conflict in the Middle East.
- Wall Street's S&P 500 fell 0.5% on Friday, though energy stocks gained 2.5%, reflecting investor anxiety over inflation and artificial intelligence infrastructure costs.
- Reserve Bank of Australia interest rate hike odds have risen to two-in-three, with officials scheduled to face the Senate Estimates Committee on Wednesday.
- Following the appointment of UK-based biotech executive Deborah Waterhouse as new chief executive, CSL shares fell 2.4% as the board announced chair Brian McNamee will step down.
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Coverage Details
Total News Sources100
Leaning Left10Leaning Right18Center13Last UpdatedBias Distribution44% Right
Bias Distribution
- 44% of the sources lean Right
44% Right
L 24%
C 32%
R 44%
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