Australian share prices are expected to open lower on Monday in the wake of the worst day’s trading on Wall Street this year as weak economic date unnerved investors.
At 9:30 am AEDT (10:30 pm GMT Sunday) the S&P/ASX 200 March share price index (SPI) contract was trading 64 points (0.19%) below than the previous settlement at 8,266.
A bad day on Friday ended a poor week for United States stocks on Friday with the Dow Jones Industrial Average and S&P 500 shedding 1.7% each and the Nasdaq Composite dropping further with a 2.2% loss on the day.
CommSec said U.S. data showed business activity decelerated and consumer sentiment worsened with the Federal Reserve happy to keep interest rates steady.
The S&P/ASX 200 had dipped by 0.32% to close at 8,296.2 points on Friday, the lowest level in five weeks and at the end of a week in which Australian official interest rates were lowered for the first time since November 2020.
Among the stocks to watch on Monday are those whose prices reacted sharply to their results last week such as REA Group and Guzman Y Gomex, and the companies reporting today.
According to CommSec, they include Ampol, APA, Aussie Broadband, IRESS, Kogan, Lifestyle Communities, Lovisa, nib, oOh!media, Paladin, PolyNovo, Reece and Stanmore Resources.
On the fixed income markets, Australian Treasury 10-year bond yields rose 0.09% to 4.451% and two-year rates dropped 0.46% to 3,856.
