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Good morning and welcome to the start of Week 42 of 2024.
The ASX200 is set to rise 0.4% on Monday according to futures around 8.30am Sydney time. .
Over the weekend, markets digested a less exciting than expected further Chinese stimulus announcement; S&P500 futures on Wall Street were up point four percent on Sunday evening Australia time.
Also over the weekend, Goldman Sachs claimed their analysis suggests US inflation has already hit the Fed’s 2% target band. Last week, US inflation was slightly higher than expected.
It’s not anticipated that surprise will lead to any lasting shock for markets this week.
Looking at the ASX, TPG is making a $5 billion fibre network sale, and reports indicate one adviser is telling Super Retail Group holders to vote against a CEO pay package.
In forex, the Aussie is buying 67 US cents.
Looking at commodities which are in the greenback,
Iron ore is fetching $105/tn in Singapore,
Brent is at $79/bbl,
Gold is trading at $2,657/oz, and,
US natgas futures are worth $2.60 a gigajoule.
That’s Market Open, I’m Jonathon Davidson, we’ll be with you later with HotCopper’s Market Update.
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