Investing.com - The Australian Stock Exchange is expected to face a downturn at Friday's open amid rising yields as market participants strengthened their expectations of prolonged higher interest rates.
On Wall Street, the Dow Jones Industrial Average increased marginally by 0.1%, while the S&P 500 and NASDAQ Composite fell by 0.2% and 0.5% respectively. Big tech companies showed mixed results with Tesla Inc (NASDAQ:TSLA), Microsoft Corporation (NASDAQ:MSFT), and Apple Inc (NASDAQ:AAPL) seeing a decline, while NVIDIA Corporation (NASDAQ:NVDA), Alphabet (NASDAQ:GOOGL) Inc (NASDAQ:GOOG), and Meta Platforms Inc (NASDAQ:META) experienced an uptick.
In the commodities market, spot gold rose by 0.8% to $US2379.80 per ounce, while Brent crude dipped 0.2% to $US87.07 per barrel. Iron ore saw a 1.0% increase to $US116.55 per tonne. The 10-year yield in the US stands at 4.63%, in Australia at 4.28%, and in Germany at 2.49%.
Performance was varied among major companies in New York. Mining giants BHP (ASX:BHP) Group Ltd ADR (NYSE:BHP) and Rio Tinto ADR (NYSE:RIO) saw their stocks fall by 0.7% and 0.2% respectively, while software company Atlassian Corp Plc (NASDAQ:TEAM) experienced a 0.8% decline.
The Australian dollar experienced a slight decline of 0.2%, settling at 64.23 US cents. Bitcoin, on the other hand, enjoyed a 3.4% increase, reaching $US63,432 as of 6.19am AEST.
In the volatility index, the VIX fell by 1.4%, Invesco QQQ Trust (NASDAQ:QQQ) by 0.6%, and TLT (NASDAQ:TLT) by 0.5%.
On the European front, markets saw a general rise with Stoxx 50, FTSE, DAX, and CAC all experiencing increases of 0.5%, 0.4%, 0.4%, and 0.5% respectively.