Global Markets Report - 24 October
ASX set to open lower, after US stocks fell broadly on weak corporate results.
Australia
Australian shares are set to open lower, after US stocks fell broadly on weak corporate results and an E. coli outbreak that sent McDonald's shares sharply lower.
ASX futures were down 0.19% or 16 points as of 8:00am on Thursday, suggesting a lower open.
The US stock market opened in the red and extended declines after another mixed round of earnings reports, dragging all three major indexes to their steepest declines in weeks.
The slide spanned soda makers, a coffee giant and an aircraft manufacturer, with losses by chip stocks adding momentum to the broader market's turn lower in the afternoon. The tech-heavy Nasdaq Composite led the retreat with a 1.6% pullback. The Dow Jones Industrial Average fell 1%, while the S&P 500 slipped 0.9%.
In commodity markets, Brent crude oil was down 1.0% to US$75.28 a barrel, while gold was flat at US$2,715.82.
The Australian dollar was at 66.33 US cents, down from its previous close of 66.81.
Asia
Chinese shares closed higher. The benchmark Shanghai Composite Index rose 0.5% to 3,302.80, and the Shenzhen Composite Index added 0.1% to 1,956.56.
Hong Kong shares ended higher. The benchmark Hang Seng Index gained 1.3% to 20,760.15.
Japanese shares closed lower. The Nikkei Stock Average lost 0.8% to 38,104.86.
India shares ended lower. The BSE SENSEX fell 0.2% to 80,081.98.
Europe
Stocks in the U.K. finished lower. The FTSE 100 Index dropped 0.6% to 8,258.64.
In Europe, shares closed lower. Germany's DAX slipped 0.2% to 19,377.62, and France's CAC 40 lost 0.5% to 7,497.48.
North America
U.S. stocks ended lower. The DJIA lost 1.0% to 42,514.95, the S&P 500 fell 0.9% to 5,797.42, and the Nasdaq dropped 1.6% to 18,276.65.
Among S&P 500 companies, the top three gainers were Northern Trust Corp, surging 7.02%, Teledyne Technologies Inc jumped 6.00%, and Packaging Corp of America lifted 5.53%.
The biggest decliners were Enphase Energy Inc which dropped 14.92%, Seagate Technology Holdings PLC fell 8.10%, and Old Dominion Freight Line Inc lost 5.45%.