Wall Street slides lower, ASX to resume after Easter break

The S&P 500 was 0.3 per cent lower in afternoon trading, coming off an all-time high and its latest winning month in a romp higher that began in late October. The Dow Jones was down 0.6 per cent and the Nasdaq composite was mostly unchanged.Futures for the Australian sharemarket are pointing to a gain of 81 points, or 1 per cent, at the open, though they were set on Friday. The ASX has not traded since Thursday due to the Easter break.

In the bond market, Treasury yields spurted higher after a report said US manufacturing unexpectedly returned to growth last month. It snapped a 16-month run of contraction, according to the Institute for Supply Management. This week will offer more updates on the job market and key areas of the economy, including data on job openings across the country and the strength of US services businesses. The headliner arrives on Friday, when economists expect a report to show that hiring cooled a bit last month.

Source: News Formal (newsformal.com)

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