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ASX Live Updates: A Snapshot from August 4
Welcome to our live coverage of the ASX for Monday, August 4. We’re eager to pilot this new format, providing real-time insights with a high frequency of updates, particularly in the pre-market hours, followed by periodic posts throughout the day. Our live blog will conclude at 3:00 PM AEST. Please refresh your browser regularly to stay updated, and feel free to share your feedback through this survey.
A Challenging Overnight Session
[8:44 AM] The overnight session was disappointing, with the S&P 500 experiencing a notable decline, gapping down and ending near its session lows. This downturn was primarily influenced by significant losses in the Technology sector, which fell by 2.07%, and the Discretionary sector, which plummeted by 3.59%. In response to these losses, there were indications of a shift towards defensive stocks, particularly in the Healthcare, Staples, and Utilities sectors, all of which concluded the session positively.
The S&P 500 intraday chart illustrates these movements:
(Source: TradingView)
Morning Update
[8:35 AM] The ASX 200 futures are showing a decline of 32 points (-0.37%) following the sharp pullback in the US markets, reflecting concerns over economic growth. This was accentuated by underwhelming nonfarm payroll results for July and significant downward revisions for previous months—May and June.
For those new to our blog, we encourage you to catch up quickly by reviewing today’s Morning Wrap.
This summary provides a concise overview of the key happenings in the ASX and related markets, keeping investors and stakeholders informed as they navigate the financial landscape.
