ABC markets blogger Stephen Letts opens daily coverage as Wall Street retreats on hotter-than-expected inflation shortening odds of a December Fed rate hike, while ASX futures point to a 0.5% fall at opening.
AI-generated summary
Wall Street retreated overnight as hotter than expected inflation shortened the odds of the Fed raising rates in December. The ASX looks like giving up a large chunk of yesterday's gains.
Good morning and welcome to another day on the ABC markets and finance blog.
Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.
Wall Street retreated overnight as hotter than expected inflation shortened the odds of the Fed raising rates in December.
The ASX looks like giving up a large chunk of yesterday's gains. Futures trading is pointing to a 0.5% fall on opening (at 7:00am AEDT).
The game's afoot, so let's get blogging.
AI outlook — possibilities, not facts
The ASX will open approximately 0.5% lower
Likely · Within hours
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