ASX 200 to fall, US markets fall from record highs, Dow records worst day of 2024

LiveWire05-24

ASX 200 futures are down 83 points, to 7,759, at 8:10am AEST. Last night proved that some people still stick to the old adage - they sell in May and go away (or in this case, sell before a May long ...

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The Dow Jones recorded its worst day in nearly a year yesterday with all 30 components of that index closing in the red.Hot services PMI data also did its bit to send US markets lower - the number printed above expectations to a 12-month high. Hot services PMI readings will indicate rate cuts are even further away than investors expect.All this negativity has filtered through to ASX futures this morning - and there are no immediate corporate catalysts that can change that .Dow falls 600 points in worst day of 2024 as Nvidia's earnings fail to lift broader market. Europe stocks close slightly higher as investors assess data; tech jumps 1% after Nvidia earnings. Oil prices fall for fourth session ahead of busy Memorial Day travel weekend. Gold slips to over one-week low on hawkish Fed, US data. Major banks push back BoE rate cut fro","collect":0,"end_time":0,"defaultTopTitle":"livewiremarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4588":"碎股","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4504":"桥水持仓","BK4581":"高盛持仓","BK4135":"资产管理与托管银行","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0106831901.USD":"贝莱德世界金融基金A2","BK4127":"投资银行业与经纪业","LU0971096721.USD":"富达环球金融服务 A","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4534":"瑞士信贷持仓","WHF":"WhiteHorse Finance","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4585":"ETF&股票定投概念","WHF.AU":"WHITEFIELD INDUSTRIALS LTD"},"translate_title":"ASX 200指数下跌，美国股市从历史高点回落，道琼斯指数创下2024年最糟糕的一天","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WHF.AU":1,"WHF":1},"content_text":"ASX 200 futures are down 83 points, to 7,759, at 8:10am AEST.\n\nLast night proved that some people still stick to the old adage - they sell in May and go away (or in this case, sell before a May long weekend they have coming up). The Dow Jones recorded its worst day in nearly a year yesterday with all 30 components of that index closing in the red.\nHot services PMI data also did its bit to send US markets lower - the number printed above expectations to a 12-month high. Hot services PMI readings will indicate rate cuts are even further away than investors expect.\nAll this negativity has filtered through to ASX futures this morning - and there are no immediate corporate catalysts that can change that (for now).\nLet's dive in.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(By information technology, we mean NVIDIA)\nS&P 500 SESSION CHART\n\n\n\n\n\n\n\n\n\nSell, sell, sell. (Source: TradingView)\n\nOVERNIGHT MARKETS\n\nDow falls 600 points in worst day of 2024 as Nvidia's earnings fail to lift broader market\nEurope stocks close slightly higher as investors assess data; tech jumps 1% after Nvidia earnings\nTreasury yields climb on positive economy and labor data\nOil prices fall for fourth session ahead of busy Memorial Day travel weekend\nGold slips to over one-week low on hawkish Fed, US data\n\nMARKETS\n\nMorgan Stanley tells investors to avoid hedge funds’ overcrowded trades, chair James Gorman to depart at the end of the year\nJPMorgan’s Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’\nDow transportation stocks are ‘area of potential concern’ for stock-market bulls\nThe stock market’s entire return rests on a surprisingly small number of days\n\nThe answer to the above is just 9 days! And given this is historically normal rather than abnormal, it's proof that it's time in (and not timing) the market which makes all the difference.\nINTERNATIONAL STOCKS\n\nTesla CEO Elon Musk says he favors ‘no tariffs’ on Chinese EVs\nAlibaba bets on AI to fuel cloud growth as it expands globally to catch up with U.S. tech giants\nBiggest US retailers cutting prices amid consumer fatigue from three years of elevated inflation\nDuPont to split into three companies, separate out electronics and water divisions\nIntuit raises full-year forecast, and says AI is helping\nBHP's $49B bid for Anglo American still faces South Africa hurdle\nSouth Korea unveils $19B package to boost domestic semiconductor industry\n\nECONOMY\n\nECB says Eurozone negotiated wages rose 4.69% y/y in Q1 2024 versus 4.50% in Q4 2023\nEurozone composite PMI at 12-month high, PMI shows slower UK expansion as services sector activity dips\nJapan flash manufacturing PMI returns to expansion but details relatively soft\nG-7 finance ministers sideline debt concerns amid rising fiscal challenges\n\nCENTRAL BANKS\n\nECB's Schnabel sees economic revival as rate cuts draw near\nMajor banks push back BoE rate cut from June to August, with markets seeing only 25bps of easing in 2024\nElevated services inflation supporting case for another BOJ rate hike\nRBNZ Governor Orr says will only hike rates again if inflation expectations get away\nBOK keeps rates on hold, notes upside inflation risks have increased\n\n\n\n\n\n\n\n\n\n\n\n\nKey Events\n\nTrading ex-dividend this week:\nWhitefield (WHF) - 24 May -$0.102\nEconomic releases:\n\n9:30 am – JPY – National core CPI\n4:00 pm – EUR – German final GDP, British retail sales\n10:30 pm – CAD – Core retail sales, corporate profits\n10:30 pm – USD – Durable goods order\n12:00 midnight – USD – University of Michigan revised consumer sentiment and inflation expectations\n\nThis Morning Wrap was written by Hans Lee and Chris Conway.\n\n\n\n\nNever miss an update\n\n    Enjoy this wire? Hit the ‘like’ button to let us know. \n    Stay up to date with my current content by \n    following me below and you’ll be notified every time I post a wire","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"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":"4.24.2","shortVersion":"4.24.2","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/2437710816"}