S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures don’t open until 9.50am AEST but a late rally from US markets on Friday has investors confused.
After another terrible day for US markets on Friday, markets sharply jolted upward into the close to finish near-flat leading investors wondering if a bounce is finally here.l
The S&P 500 Index (INDEXSP:.INX) closed at 2,954.22, −24.54 or down 0.82% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 8,567.37, +0.89 or up 0.010%.
Gold confuses by going down, AUD at 10-year lows
Gold gave up around US$60 to finish down at US$1,587 per ounce, US$100 down from its recent high of US$1,690 per ounce.
This confused investors, who thought gold should be going up amid the panic.
Crude Oil WTI was down another 1.84% lower to US$45.25 per barrel.
The AUD is making new 10-year lows versus the USD trading at 64.9 cents.
[VIDEO] US stocks were mixed on Friday, with the Dow Jones -1.4% while Nasdaq was flat. The Dow Jones rallied by 640pts in the final 15 minutes of trade thanks to the Fed flagging a potential rate cut. https://t.co/nJTDXLf83F #ausbiz— CommSec (@CommSec) March 1, 2020