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Market Index - Friday Morning Wrap

ASX 200 futures are down 83 points, to 7,759, at 8:10am AEST.

Last night proved that some people still stick to the old adage - they sell in May and go away (or in this case, sell before a May long weekend they have coming up). The Dow Jones recorded its worst day in nearly a year yesterday with all 30 components of that index closing in the red.
Hot services PMI data also did its bit to send US markets lower - the number printed above expectations to a 12-month high. Hot services PMI readings will indicate rate cuts are even further away than investors expect.
All this negativity has filtered through to ASX futures this morning - and there are no immediate corporate catalysts that can change that (for now).
Let's dive in.

[URL unfurl="true"]https://www.marketindex.com.au/news/morning-wrap-asx-200-to-fall-us-markets-fall-from-record-highs-dow-records[/URL]

<blockquote data-quote="debtfree" data-source="post: 1280316" data-attributes="member: 20158">Market Index - Friday Morning WrapASX 200 futures are down 83 points, to 7,759, at 8:10am AEST.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; Last night proved that some people still stick to the old adage - they sell in May and go away (or in this case, sell before a May long weekend they have coming up). The Dow Jones recorded its worst day in nearly a year yesterday with all 30 components of that index closing in the red.Hot services PMI data also did its bit to send US markets lower - the number printed above expectations to a 12-month high. Hot services PMI readings will indicate rate cuts are even further away than investors expect.All this negativity has filtered through to ASX futures this morning - and there are no immediate corporate catalysts that can change that (for now).Let&#039;s dive in.[URL unfurl=&quot;true&quot;]https://www.marketindex.com.au/news/morning-wrap-asx-200-to-fall-us-markets-fall-from-record-highs-dow-records[/URL]</blockquote>

[QUOTE="debtfree, post: 1280316, member: 20158"] Market Index - Friday Morning Wrap [B]ASX 200 futures are down 83 points, to 7,759, at 8:10am AEST.[/B] Last night proved that some people still stick to the old adage - they sell in May and go away (or in this case, sell before a May long weekend they have coming up). The Dow Jones recorded its worst day in nearly a year yesterday with all 30 components of that index closing in the red. Hot services PMI data also did its bit to send US markets lower - the number printed above expectations to a 12-month high. Hot services PMI readings will indicate rate cuts are even further away than investors expect. All this negativity has filtered through to ASX futures this morning - and there are no immediate corporate catalysts that can change that (for now). [B]Let's dive in.[/B] [URL unfurl="true"]https://www.marketindex.com.au/news/morning-wrap-asx-200-to-fall-us-markets-fall-from-record-highs-dow-records[/URL] [/QUOTE]

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