Originally published by Rivkin Securities
Wall Street ended the last session of the week lower as the October jitters continue. Another highly volatile trading day saw the Dow Jones slip 1.2% at the close, S&P 500 fell 1.7% and the Nasdaq also dropped 2.1%. Disappointing earnings results from Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL) were the main factors contributing to the weak performance. US GDP grew at 3.5% for the third quarter beating the 3.4% expectation however this along with strong consumer spending data was not enough to keep investor sentiment high.
ASX futures were down 17 points pointing to a slow start to the trading week. Investors will anticipate the release of key local data this week including ANZ (AX:ANZ) full year results, NAB (AX:NAB) full year results, Macquarie Group's (AX:MQG) half year data, quarterly CPI data and retail sales data at the end of the week. Brent crude oil rose yet again to $US77.79 per barrel and US 10-year bonds fell slightly to 3.08%.
Today’s agenda:
- Japan – Retail Sales September
- US personal Income and spending