ABC Markets and Finance Blog: Daily Market Update
Quick Look
- Wall Street closed positively, but weekend escalation of US-Iran hostilities and Iran's declaration of the Strait of Hormuz closure may impact the ASX's opening gains.
- ASX 200 futures indicated a 0.4% rise.
AI-generated summary
Why It Matters
Weekend geopolitical events, including missile strikes and Iran's declaration regarding the Strait of Hormuz, follow a positive close on Wall Street and may impact the ASX's opening.
Good morning and welcome to another day on the ABC markets and finance blog.
Stephen Letts from ABC business team limbering up for blow-by-blow coverage of the day's events with every post, hopefully, a winner, but none to be construed as financial advice.
You know the drum; we've been here before.
Wall Street closed the week on a positive note on Friday only for the missiles to start raining down again across the gulf over the weekend, followed in short order by Iran declaring the Strait of Hormuz closed again.
Before the re-escalation of US-Iran hostilities, the ASX was holding up well and poised to add to Friday's gain.
When trading closed early on Saturday morning (AEST), ASX 200 futures were pointing to a 0.4% gain, but there's no guarantee that will be delivered this morning.
As always, the game's afoot, so let's get blogging.
Open Questions
- Will the ASX open with the predicted gain?
- What is the extent of the US-Iran conflict escalation?