live:ASX to open lower, Commonwealth Bank's third-quarter cash profit falls 7pc

ABC News05-09

A mixed session on Wall Street is likely to send Australian stocks lower, while Australia's biggest bank, the Commonwealth Bank, saw its third-quarter cash profit fall 7 per cent.We'll bring you the ...

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The S&P 500 ended unchanged after four sessions of gains, and the Nasdaq Composite slipped to a second consecutive decline.There was not much news to move the indexes, outside of reports from individual companies.\"We're just waiting for the next catalyst to jump-start the direction in the market, and we're probably going to get that next week,\" said Ameriprise Chief Market Strategist Anthony Saglimbene. The Producer Price Index (PPI) is due on May 14, and the Consumer Price Index (CPI) scheduled for May 15.\"I think traders are reluctant to take broader stocks or broader averages higher, until they get a fresh update on inflation,\" he added.The S&P 500 has leveled off close to the 5,200 mark, which it last closed above on April 9. On Wednesday, it was hampered by sliding shares of Uber which posted a surprise quarterly loss and issued a downbeat forecast.The ride-hailing platform fell 5.7%, was among the S&P 500's biggest decliners, after it forecast second-quarter gross bookings would not meet expectations.Tesla fell 1.7% after Reuters reported US prosecutors were examining whether the company committed securities or wire fraud by misleading investors and consumers about self-driving capabilities of its electric vehicles.Other megacap stocks such as Nvidia, Amazon and Alphabet slipped between 0.2% and 1.1%, as the 10-year Treasury yield edged up.ShareCopy linkKey EventASX to fall at openS42m agoWed 8 May 2024 at 9:29pmBy Samuel YangGood morning and welcome to Thursday's markets live blog, where we'll bring you the latest price action and news on the ASX and beyond.A mixed session on Wall Street overnight sets the tone for local market action today.The Dow Jones index was up 0.4 per cent, the S&P 500 was flat and the Nasdaq Composite lost 0.2 per cent.ASX futures were down 19 points or 0.2 per cent to 7,806 at 7:00am AEDT.At the same time, the Australian dollar was at 65.78 US cents.Brent crude oil was up 0.7 per cent, trading at $US83.70 a barrel.Spot gold dropped 0.2 per cent to $US2,308.64.Iron ore was down 2.6 per cent to $US115.10 a tonne.ShareCopy link","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434707880"}