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Wall Street Retreats as Oil Prices Continue to Rise, ASX Set to Slip
Rising oil prices and inflation worries pushed the S&P 500, Dow Jones Industrial Average and Nasdaq lower, while energy shares gained.
- 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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Brent oil fell 0.38% and the WTI dropped 0.76% before reports of possible negotiations between the United States and Iran, while tension persists in the strategic strait of Ormuz.
·Warsaw, Poland
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Global gold prices are back in the spotlight after falling below the psychological level of US$4,000 per troy ounce.
Gold Under Pressure as Oil-Driven Inflation Fears Reshape Federal Reserve Expectations
Gold enters the final week of October facing renewed selling pressure as rising energy prices, persistent inflation concerns and shifting expectations for US monetary policy challenge the precious metal's traditional appeal as a safe-haven asset...
·Amman, Jordan
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Oil gets cheaper, but risks of supply disruptions through the Strait of Hormuz persist
·Kyiv, Ukraine
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Total News Sources469
Leaning Left32Leaning Right56Center54Last UpdatedBias Distribution39% Right
Bias Distribution
- 39% of the sources lean Right
39% Right
L 23%
C 38%
R 39%
Factuality
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