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S&P/ASX 200 futures slightly up after US tech stocks smashed overnight

S&P 500 Index finished down 0.28% to 2,744.4 last night

building with nasdaq screen
Nasdaq Composite finished down 1.33% to 7,333, FB finished down 7.51%

S&P/ASX 200 (INDEXASX:XJO) futures are slightly up after US tech giants were rattled by reports that the Justice Department may probe Google for antitrust violations.

Facebook (NASDAQ:FB) finished down 7.51%, Alphabet (NASDAQ:GOOGL) down 6.12% and Amazon (NASDAQ:AMZN) down 4.64%.

In early May 2019, it was reveal Warren Buffett’s Berkshire Hathaway was buying Amazon, later to be disclosed as a US$900+ million position – Amazon is down more than 10% since May began.

Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished lower but notably the Dow Jones Industrial Average (INDEX:DJX:.DJI) finished up 0.02%.

 

 

All eyes on the RBA today at 2.30pm

The Reserve Bank of Australia meets today to set interest rates, which currently stand at 1.5%.

The consensus is for a 25 basis point cut to 1.25% and we will know the outcome at 2.30pm today.

Lower interest rates are designed to stimulate economies and are generally good for equity markets.

 

 

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