S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are down around 3% heading into the open today after the ASX 200 closed up 3.58% to 5,258.60 yesterday.
The daily increases for COVID-19 cases and deaths in the US continue to rise to new highs, which has the market concerned the pandemic is worse than expected.
The S&P 500 Index (INDEXSP:.INX) closed at 2,470.50, −114.09 or down 4.41% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 7,360.58, −339.52 or down 4.41%.
The Australian share market has had a solid week but will likely give some of this week’s gains back today.
Webjet Limited (ASX:WEB) could be in for a bumpy ride if it decides to recommence trading today after shares have been suspending recently to raise capital at $1.70 vs last traded price of $3.76.
Gold back above US$1,600, oil also rising
Gold has increased 0.4% overnight to be trading at US$1,603 per ounce while Crude Oil WTI was also 3.5% higher overnight to US$21.19 per barrel.
Oil was at US$20.00 per barrel during the night but sharply bounced off that level which is acting as support to the price short term.
The AUD is down slightly overnight and is buying 60.7 US cents after reaching 62 cents in the days prior but not being able to break through that level.