The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) could be hit today following a tech-stock sell-off that has swept Wall Street since Friday. The local market was closed on Monday due to the Queen’s Birthday holiday in most states, but the futures market is pointing to a 15-point decline today.
Here’s a quick recap:
- FTSE 100 (UK): down 0.21%
- DAX (Germany): down 0.98%
- CAC 40 (France): down 1.12%
- Dow Jones (USA): down 0.17%
- NASDAQ (USA): down 0.52%
Some of the world’s biggest technology stocks have been hit hard in recent sessions, including the likes of Alphabet and Apple.
It’s unclear how the tech sell-off could impact Australian shares, given that many stocks in the technology sector have already retreated from their highs. But it could be worth watching shares such as Catapult Group International Ltd (ASX: CAT) in case they do fall much further than their current levels.
The Spark New Zealand Ltd (ASX: SPK) share price could also receive some attention after the group announced it had acquired marketing automation provider Ubiquity. The company noted that the addition of this business complements the big data analysis software capabilities of Qrious.
The Ten Network Holdings Limited (ASX: TEN) share price could come under pressure after The Australian Financial Review reported that the network had failed to secure further funding from its three billionaire shareholders.
Investors in the resources space will also be watching the BHP Billiton Limited (ASX: BHP) share price and the Fortescue Metals Group Limited (ASX: FMG) share price after oil and iron ore prices rose 0.3% and 0.9% respectively. The two commodities have come under pressure recently, so those rebounds may provide some support for the shares.
The gold price, on the other hand, slipped another 0.1%. The Australian dollar is fetching US75.41 cents.
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- 3 financial stocks better than the big 4 banks
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The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alphabet (A shares), Alphabet (C shares), and Apple. Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.