CAPITAL MARKETS

ASX likely to struggle early

AUSTRALIAN futures were down 29 points this morning after a weak session on Wall Street on Friday.

Staff reporter
ASX likely to struggle early

The S&P 500 dropped 1.3% on Friday.

The attention has turned back to interest rate rises after employment data released on Thursday.

Comex gold futures hit their lowest level this month, falling to US$1760.50 an ounce.

All eyes are on Federal Reserve president Jerome Powell's speech at the Jackson Hole symposium this week.

Among stocks, Newmont Corporation hit a 52-week low, while Barrick Gold came close.

Gold miners dropped 1.3% overall in Toronto.

Among the base metals, nickel rose 2.2% to $22,176 per tonne, while copper was up 0.7% to $8100/t.

Aluminium and lead fell.

Oil rose slightly to $90.77 a barrel.

The Australian dollar was trading at 68.73c, about a one-month low.

Updated: 22-08-2022

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