Wall Street Rebounds, ASX Futures Point to Weaker Open
Quick Look
- Wall Street stocks rebounded, led by chip stocks, with the S&P 500 up 1.08%, Nasdaq Composite 1.9%, and Dow Jones 0.14%.
- Despite this, ASX futures indicate a 0.5% lower open for the local market.
- SpaceX shares slipped for a second day.
AI-generated summary
Why It Matters
The ABC's daily business and finance blog provides updates on market moves and business news. Wall Street experienced losses the previous day.
Good morning, and welcome to the ABC’s daily business and finance blog.
I'm Lin Lin, taking you through the news overnight and into the morning.
Wall Street rebounded after yesterday's losses, with chip stocks leading the gains. The S & P 500 added 1.08%, Nasdaq Composite climbed 1.9% an the Dow Jones rose by 0.14%.
Despite that, ASX futures are pointing to a weaker start, suggesting the local share market will open 0.5% lower this morning.
Brent crude futures are holding below $US80 a barrel.
Meanwhile, Elon Musk's SpaceX slipped for a second consecutive session after surging in its first few days of trading following last week's debut.
Starting soon, my colleagues Jason and Emilia will be live blogging the Senate's grilling of KPMG's leadership.
Grab your coffee or tea and settle in, we'll bring you the latest market moves and business news throughout the day.
Open Questions
- Will the ASX market continue its downward trend?
- What caused SpaceX's continued slip?