The Australian sharemarket is set for a weak start to the week, with investors rattled by fresh signs of a slowdown in the US economy.
A softer-than-expected July non-farm payrolls report spurred concerns about the world’s largest economy. Just 73,000 jobs were added in the month – well short of the 100,000 forecast by economists. Adding to the gloom, previous months’ figures were revised sharply lower, with a combined 258,000 jobs stripped from the May and June tallies. That dragged the three-month average to 35,000 – the slowest pace of hiring outside the pandemic since 2010.
Source: https://www.afr.com/markets/equity-markets/asx-to-open-lower-as-weak-us-jobs-data-sparks-jitters-a-rallies-20250804-p5mk17