Australian Stock Exchange: Daily performance
Australian Stock Exchange: Known
Shares on the Australian stock exchange are set to open lower on Wednesday as US stocks fell the most in three weeks, while 10-year Treasury yields pushed to 3. 08 per cent as investors weigh the prospect for higher Federal Reserve rates. SPI futures down 5 points at 6095 AUD trading at 74. 71 US cents On Wall St: Dow -1%, S&P; 500 -0. 9%, Nasdaq -1% In Europe: Stoxx 50 unchanged, FTSE +0. 2%, CAC +0. 2%, DAX -0. 1% Spot gold -1. 7% at $US1291. 43 an ounce Brent crude unchanged at $US78. 26 a barrel West Texas Intermediate crude +0. 3% at $US71. 14 a barrel Iron ore -2. 4% at $US67. 28 a tonne What makes a good fund manager: Several anecdotes about failed fund managers revealed at the Future Generation investment forum in Sydney on Tuesday say a lot about what two legends of the market believe makes a successful fund manager. - Labor vows bigger surpluses: Labor will pledge to use the majority of the potential $220 billion in extra taxes it plans to raise over the next decade to pay down debt when Shadow treasurer Chris Bowen responds to the federal budget today. - Stock picker favourites: One of the countrys best known brands and some stars of the global tech world were named as top stock picks on Tuesday, as some of the countrys top investors came together at the Future Generation Investment Forum in Sydney. - The yield on the benchmark US 10-year Treasury note hit its highest point in seven years on Tuesday on a report that indicated a pick-up in consumer spending, pushing the dollar to its highest level this year and weighing on stocks.
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