Originally published by Rivkin
The ASX is poised for a drop today with ASX futures down 51 points at 8am AEDT – this follows suit as the US benchmarks ended the trading session at least 1% lower at the close with the tech heavy Nasdaq experiencing the worst day of the indices down 2.1 per cent. Netflix (NASDAQ:NFLX), Amazon (NASDAQ:AMZN) and Facebook (NASDAQ:FB) were down 3.3, 2.8 and 2.5 percent respectively. Market sentiment seems to have been dented following the rising tensions between US and Saudi Arabia over the disappearance of Saudi Journalist Jamal Khashoggi with Saudi Arabia denying any involvement in the disappearance.
The recent market volatility follows 6 consecutive months of equity gains for the S&P 500 and ASX 200 indices. The October jitters is certainly living up to its name, given the strong earnings data and economic outlook – current market conditions could represent some good entry points for long term investors.
Today’s Agenda:
Overseas
China 3rd Quarter GDP
Retail Sales September
US existing home sales September