The Australian sharemarket is set to open the week lower on Monday following a volatile profit season, which saw the index set records.
Futures indicate that the benchmark S&P/ASX 200 Index will start 0.3 per cent down, shedding 25 points to 8912 at the opening bell. A subdued start to the trading week is expected as US financial markets will be shut on Monday for the Labour Day public holiday.
That comes after Wall Street closed lower on Friday when magnificent seven names Tesla and Nvidia paced a technology sell-off, dragging all three major US indices lower. The Nasdaq dropped 1.2 per cent, the S&P 500 was off 0.6 per cent and the Dow Jones 0.2 per cent.
Source: https://www.afr.com/markets/equity-markets/asx-to-dip-after-strong-rally-as-investors-brace-for-gdp-and-us-data-20250826-p5mpyt