Live: ASX set to fall on weaker Wall St

Live: ASX set to fall on weaker Wall St
By Business
Jul 02

Live: ASX set to fall on weaker Wall St

Global markets continue to be impacted by the uncertainty surrounding the ongoing pandemic, with the ASX expected to open lower today following a weaker performance on Wall Street. Investors are closely monitoring the situation as economic indicators point to a slowdown in growth and rising inflationary pressures.

Concerns about the potential impact of the Delta variant of COVID-19 on economic recovery have weighed on sentiment, leading to increased volatility in global markets. The upcoming trading session on the ASX is likely to reflect these concerns, with investors bracing for a possible downturn.

Market Overview

The ASX is expected to open lower today, following a negative lead from Wall Street. The US markets closed lower yesterday, with tech stocks leading the decline. The S&P 500 and Nasdaq both finished in the red as investors reacted to the latest economic data.

Asian markets are also feeling the pressure, with most major indices trading lower. Concerns about the economic impact of the Delta variant and inflationary pressures are weighing on investor sentiment across the region.

Key Factors Driving the Market

Investors are closely watching inflation data, which has been rising in recent months. The Federal Reserve has indicated that it may need to tighten monetary policy sooner than expected to address inflation, which could put further pressure on stock prices.

The ongoing spread of the Delta variant is adding another layer of uncertainty to the market outlook. As countries grapple with rising case numbers and the potential reintroduction of restrictions, investors are concerned about the impact on global economic growth.

Technical Analysis and Market Expectations

Technical analysts are pointing to key support levels that the ASX will need to hold to prevent a further decline. If these levels are breached, the index could see a more significant pullback in the coming sessions.

Market expectations are cautious, with many investors opting to wait on the sidelines until there is more clarity on how the current challenges will be resolved. Volatility is expected to remain elevated as market participants navigate the uncertainties a.

As the ASX prepares to open lower on the back of weaker Wall Street performance, investors are bracing for a challenging trading session. The combination of rising inflation, concerns about the Delta variant, and technical factors are contributing to the cautious outlook in the market.

It remains to be seen how the ASX will respond to these winds and whether investors will find opportunities amidst the volatility. Keeping a close eye on key market indicators and staying informed about the latest developments will be crucial in navigating the current market environment.