ASX to open lower; Fed holds as Wall St rises
Fed officials see inflation worsening but still expect to make two interest rate cuts by the end of the year. They underscored that they are holding off from any changes to the key rate because of the uncertainty surrounding the impact of the tariffs and economic outlook.
'We're close to the all-time highs with a tremendous amount of event risk over the summer,' said Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute. 'For most investors, now would be a good time to rebalance and get ready for additional event-related volatility over the summer.'
Market highlights
ASX futures are pointing down 20 points or -0.2 per cent to 8513
All US prices are as of 1.30pm New York time.
Thursday's agenda
Australia's unemployment figures come out at 11.30am. New Zealand issues GDP data at 8.45am.
Wall Street will be closed for the Juneteenth holiday. In the UK, the Bank of England is expected to keep rates on hold at 4.25%.
Top stories
'We've got a mandate': Chalmers doubles down on $3m super tax | The treasurer said tax reform discussions were about the government looking for new ideas, not reversing course on its controversial super tax.
Tax reform 'crucial' to budget sustainability: Chalmers | In a National Press Club address the treasurer has flagged tax changes and said Labor's election commitments were the 'foundation not a destination'.
| The alert on April 8 – days after tariff fears sent Wall Street plunging – shows the pressure on super funds as they manage an unpredictable White House.
The corporate regulator announced an inquiry into the sharemarket operator after a series of missteps including a disastrous settlement outage in December.
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