ASX futures (SPI 200) indicate that the ASX 200 will open 13 points lower, down -0.19%.
The US stock market started to shift after significant gains. Target's quarterly profits fell nearly -90% compared to a year ago. Energy rationing in China impacted industrial production, and there were some highlights in the FOMC meeting minutes.
US Market Performance
Ten out of eleven sectors in the US declined
Energy was the only sector in the green
Defensive stocks, including utilities, consumer staples, and real estate, performed relatively well
Communication services and materials led the declines
71% of US stocks fell
46% of US stocks are trading below their 200-day moving average (compared to 43% on Wednesday and 49% a week ago)
Stock
Bed Bath & Beyond (+11.8%) continued to rise due to unusually high trading volumes from retail investors. The stock once surged 45% during the session but fell after reports that RC Ventures had sold 9.5 million shares
Lowe's (+0.5%) second-quarter profit beat analysts' expectations, but sales unexpectedly declined due to reduced demand for certain non-essential categories
Krispy Kreme (-12.1%) reported lower-than-expected profit and revenue figures compared to Wall Street forecasts. Nevertheless, the total number of donuts sold globally this quarter increased by 7% compared to a year ago
Revenue
Standard & Poor's ...