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.
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%.
Stocks fell today on news that the U.S. government is assuming greater oversight of some big tech companies. The Nasdaq dropped 1.6% to enter correction territory, and the S&P 500 fell 0.28%. https://t.co/Q6Y2nbA82E pic.twitter.com/pWP2iQ6EMY— CNBC (@CNBC) June 3, 2019
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.