The Australian sharemarket closed slightly higher on Monday, with the S&P/ASX gaining 0.2 per cent to 7789.1 points, despite a tumultuous session for several ASX 200 members. The increase followed a strong US job report over the weekend, which boosted US sharemarkets but also raised concerns about potential delays in US Federal Reserve interest rate cuts, though moderate wage increases may alleviate fears of inflation resurgence
Futures
The Dow Jones futures are pointing to a fall of 5 points.
The S&P 500 futures are pointing to a fall of 2.75 points.
The Nasdaq futures are pointing to a rise of 11 points.
The SPI futures are up 17 points.
Best and worst performers
The best-performing sector was Information Technology, up 1.19 per cent. The worst-performing sector was Energy, down 1.24 per cent.
The best-performing large cap was Newmont Corporation (ASX:NEM), closing 6.56 per cent higher at $60.41. It was followed by shares in GQG Partners (ASX:GQG) and Qantas Airways (ASX:QAN).
The worst-performing large cap was Woodside Energy Group (ASX:WDS), closing 1.63 per cent lower at $30.10. It was followed by shares in Auckland International Airport (ASX:AIA) and Computershare (ASX:CPU).
Asian markets
Japan’s Nikkei has gained 0.84 per cent.
Hong Kong’s Hang Seng has gained 0.20 per cent.
China’s Shanghai Composite has gained 1.24 per cent.
Commodities and the dollar
Gold is trading at US$2,351.50 an ounce.
Iron ore is 0.2 per cent higher at US$98.50 a tonne.
Iron ore futures are pointing to a 1.69 per cent rise.
Light crude is trading $1.38 lower at US$85.54 a barrel.
One Australian dollar is buying 65.79 US cents.