The CommSec Market Update 6 Feb 23: Wall Street ends last week down after monster US jobs report raises rate hike concerns

The Australian sharemarket looks set to hit fresh 9-month highs on Monday despite a poor finish to the week on Wall Street.

US shares were weighed down by the poor performance of megacap technology shares and soaring US government bond yields.  

According to the latest SPI futures, the ASX 200 index is expected to open the day 12 points or 0.2% higher this morning, potentially building on five straight weeks of gains.

Aussie energy shares could be under pressure today with the US crude oil price slipping over 3% in Friday trade.

The Aussie dollar eased from around US70.70 cents to US69.15 cents following a hot US jobs report.

 

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