Business
ASX to fall ahead of Reserve Bank decision, S&P 500 records best August in 34 years – ABC News
Australian shares are expected to fall despite Wall Street recording its strongest month of August in more than three decades, while the Reserve Bank is almost certain to keep interest rates at record lows.
Australian shares are expected to fall sharply in early trade, following a weak performance across global markets.
ASX futures were down 63 points, or 1 per cent, by 7:05am AEST.
Wall Street’s benchmark index, the S&P 500, slipped (-0.2pc) from its record high to 3,500 points overnight.
But the S&P recorded its strongest performance in the month of August since 1986, having jumped 7 per cent last month.
The industrial-skewed Dow Jones dropped 224 points (or 0.8 per cent) to 28,430 po…
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