Australian investors may be hoping they have put the worst one day fall in five years behind them with share prices set to rise when the market opens on Tuesday.
Notwithstanding a mixed and turbulent session on Wall Street, which usually charts the course for the S&P/ASX 200 index, futures trading was flagging a stronger start on the Australian Securities Exchange (ASX) at 10 am AEST (12 pm GMT Monday).
At 9:20 am AEST the June 2025 share price index contract was trading 55 points (0.75%) firmer at 7,336.
The ride on stocks was wild in New York on Monday with the CBOE Volatility Index, which some consider tracks investor ‘fear’, jumping to a level associated with bear markets, and the Dow Jones Industrial Average swinging wildly.
Trade worries continued to weigh on market minds as President Donald Trump gave no indication he had finished fighting his tariff war with China, the European Union and other erstwhile trade ‘partners’.
The Dow fell 0.9% and the S&P 500 lost 0.2% but the Nasdaq Composite added 0.1%.
The Australian sharemarket had fallen to its lowest level in 15 months on Monday with its largest drop since 2020, closing 4.2% lower at 7,343.3 points.
In news today, CommSec said Australian consumer and business confidence survey results would be published while shares in Brickworks may defer the general market direction as they trade ex-dividend.
On fixed interest markets, yields on Australian Treasury bonds eased with the 10-year rate falling 0.21% to 4.278% and the two-year yield dropped 2.0% to 3.426%.
