Fortune Prime Global Overnight headlines 23/11/2022

Overnight headlines 

As investors appear to be focusing on chances that US officials would pivot to modest rate-rising actions as early as next month, Australian equities are likely to advance, supported by gains in New York. 

ASX futures increased by 58 points (0.81%) to 7251. 

• Dow up 1.2% on Wall Street S&P +1.4% +1.4% Nasdaq 

The Dow reached 34,000 points at the close, up 398 points. Energy drove gains across all 11 S&P 500 sectors, pushing the index past the 4000 point mark. 

After Saudi Arabia stated that OPEC+ was not considering a production increase, the price of oil continued to recover. 

The local currency increased by 0.6%, moving closer to US66.5; the Bloomberg dollar spot index decreased by 0.5%. 

Bitcoin traded 1.8% higher at $US16,081 after falling under $US15,600 on the previous day. 

The 10-year US Treasury yield decreased 7 basis points to 3.76 percent. 

In a report on the state of the world economy, the OECD took a sombre stance in keeping with warnings to investors from an increasing number of banks that profit margins are likely to fall next year.  

Market movements 

• On Wall Street: Dow +1.2% S&P +1.4% +1.4% Nasdaq 
• Bitcoin +1.8% to $US16,081  
• AUD +0.6% to 66.46 US cents  
• Stoxx 50 increased 0.5% in Europe, FTSE up 1%, CAC up 0.4% DAX +0.3% 
• Spot gold increased by 0.1% to US$1739.15/oz;  
• Brent crude increased by 2.4% to US$89.53/b;  
• iron ore decreased by 2.1% to US$94.20/t;  
• The 10-year yield was US$3.76%, 3.59% Australia, Germany 1.97% 

Today’s agenda 

Local: RBNZ decision on policy 

Overseas data: Markit services and manufacturing PMIs for the US, UK, and Eurozone; US October orders for durable goods; US October new home sales; and US November consumer sentiment 

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