{"id":30752,"date":"2025-07-29T20:08:11","date_gmt":"2025-07-29T20:08:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/30752\/"},"modified":"2025-07-29T20:08:11","modified_gmt":"2025-07-29T20:08:11","slug":"wall-street-drifts-lower-asx-set-to-dip","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/30752\/","title":{"rendered":"Wall Street drifts lower, ASX set to dip"},"content":{"rendered":"

US stock indexes are edging back from their record levels as an incredibly busy week for Wall Street picks up momentum.<\/p>\n

The S&P 500 was down 0.3 per cent in afternoon trading after setting an all-time high in six straight days. The Dow Jones was down 227 points, or 0.5 per cent, and the Nasdaq composite was down 0.3 per cent from its own record.<\/p>\n

\"Wall<\/p>\n

Wall Street Credit: Bloomberg<\/p>\n

The Australian sharemarket is set to dip, with futures at 4.56am AEST pointing to a loss of 8 points, or 0.1 per cent, at the open. The ASX edged 0.1 per cent higher<\/a> on Tuesday. The Australian dollar was steady at 65.16 US cents at 5.16am.<\/p>\n

SoFi Technologies jumped 8.7 per cent, but Merck dropped 2.2 per cent and UPS sank 9.4 per cent following a torrent of profit reports from big US companies. They\u2019re among the hundreds of companies telling investors this week how much they made during the spring, including nearly a third of the stocks in the S&P 500 index.<\/p>\n

Treasury yields eased in the bond market as the Federal Reserve begins a two-day meeting where they will decide what to do with short-term interest rates. Despite angry lobbying from President Donald Trump for lower rates, which would give the economy a boost, the widespread expectation is that the Fed will wait for more data about how Trump\u2019s tariffs are affecting inflation and the economy before making its next move.<\/p>\n

The US economy has seemed to hold up OK so far despite the pressures of tariffs, though it does appear to be slowing.<\/p>\n

Loading<\/p>\n

One report on Tuesday said that US employers were advertising fewer job openings at the end of June than a month before, though still more than economists expected. A separate report said confidence rose among US consumers, but a measure of their expectations about the near term remains below the level that typically signals a recession ahead.<\/p>\n

\u201cConsumer confidence has stabilised since May, rebounding from April\u2019s plunge, but remains below last year\u2019s heady levels,\u201d according to Stephanie Guichard, senior economist, global indicators, at The Conference Board.<\/p>\n","protected":false},"excerpt":{"rendered":"US stock indexes are edging back from their record levels as an incredibly busy week for Wall Street…\n","protected":false},"author":2,"featured_media":30753,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,99,171],"class_list":{"0":"post-30752","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/30752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=30752"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/30752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/30753"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=30752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=30752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=30752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}