ASX 200 futures are down 44 points to 7,875 as of 8am AEST.
The RBA held rates yesterday and it's still not ruling anything in or out. But that wasn't the only major story to break late yesterday. The Financial Review is now reporting that Perpetual will be broken up and its name will be sold to American firm KKR. Wall Street finished the overnight session barely higher and we are awaiting results from Arcadium Lithium, Goodman Group, and Virgin Money UK.
Let's dive in.
Mon 13 May 24, 8:30am (AEST)
Mon 13 May 24, 8:30am (AEST)
Dow logs fifth straight gain for longest win streak since December
European stocks close over 1% higher; UBS soars
10-year Treasury yield falls as investors consider Fed policy path
Oil prices little changed as U.S. moves to replenish reserve, Gaza cease-fire still uncertain
Gold slips as traders eye Fed rate-cut path
Stocks and commodities haven’t moved in lockstep like this since 1980
Rivian’s stock falls after EV maker posts wider-than-expected quarterly loss
Reddit shares soar 14% on Q1 revenue beat and narrower-than-expected loss
Disney earnings send stock sliding almost 10% to its worst day since 2022
Lyft puts up another quarter of positive free cash flow, following jump in rides
Astera Labs’ blowout first earnings report is met with a sagging stock reaction
Fed’s Kashkari doesn’t rule out a rate hike
RBA leaves cash rate unchanged at 4.35%, as expected, but expresses concern over price risks
BoE expected to keep rates on hold for ninth month running amid splits on the MPC
US consumers pull back sharply on credit-card use in March
German factory orders unexpectedly dropped in sign of enduring weakness, exports rebound
DIHK says German exports expected to stagnate this year, following a 1.8% decline in 2023
Japan April services growth at eight-month high on solid demand
Surveys show UK retail sales hit by bad weather and timing of Easter, softening demand
Global trade growth set to more than double in 2024 after last year's slump
Global policymakers imposing new taxes on EV as $110B fuel duty shortfall looms
As mentioned, Arcadium Lithium, Goodman Group, and Virgin Money UK are all due to hand down earnings.
GPT Group and Smartgroup are due to hold AGMs.
ResMed is trading ex-dividend.
We're almost done with the Big Bank earnings season. Commonwealth Bank hands down its Q3 trading update tomorrow, and it too is likely to report a fall in cash profits.
Mon 13 May 24, 8:30am (AEST)
Companies trading ex-dividend:
Wednesday 8 May: Resmed (RMD) - $0.052
Thursday 9 May: Future Generation Australia (FGX) $0.034, United Overseas Australia $0.02
Economic calendar (AEST):
4:00pm – EUR – German industrial production
6:00pm – EUR – Italian retail sales
12:00am – USD – Final wholesale inventories
12:30am – USD – Crude oil inventories
This Morning Wrap was written by Hans Lee and Chris Conway.
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