US stocks are drifting around their records as financial markets around the world take a pause following big recent moves. The S&P 500 fell 0.2 per cent in afternoon trading, a day after setting an all-time high for the 41st time this year.
The Dow Jones was down 255 points, or 0.6 per cent, in late trade, and the Nasdaq composite was flat. Wall Street has slid lower across the board.
Credit: AP The Australian sharemarket is set for a bright start despite the negative lead, with futures at 4.55am AEST pointing to a gain of 20 points, or 0.2 per cent, at the open.
The ASX lost 0.2 per cent on Wednesday. The Australian dollar lost ground.
It was 0.9 per cent lower at 68.28 US cents at 5.
10am AEST. Iron ore prices continued to climb after China unveiled fresh stimulus measures this week . The commodity was 1.
8 per cent higher at $US96.40 per metric tonne in Singapore. Treasury yields were edging higher in the bond market, a day after sinking on a surprisingly weak update on confidence among US consumers.
The worst drop in confidence in three years raised worries about the US economy, but it also raised expectations for the Federal Reserve to deliver another dose of bigger-than-usual relief through a big cut to interest rates at its next meeting. Loading In stock markets abroad, indexes moved more modestly after jumping a day before on hopes that new stimulus measures from China would prop up the world’s second-largest economy. Chinese indexes rose again Tuesday, but they pared.