ASX opens lower despite Wall Street jump with resources stocks leading falls

ASX opens lower despite Wall Street jump with resources stocks leading falls

By Damian Troise, Alex Veiga and Lachlan Abbott The Australian sharemarket has fallen slightly at open on Friday as falling commodity prices hurt the mining and energy sectors, despite Wall Street posting gains overnight. The ASX 200 was down by 0.2 per cent at 10.20 am AEST, sitting at 6,511.9 points, with the energy sector tumbling by 2.1 per cent to lead losses as oil prices slumped overnight. US stocks shook off a midday slump and ended higher, keeping the market on track for its first weekly gain after three weeks of punishing losses. Trading was wobbly throughout the day as investors remained focused on another round of testimony before Congress by Federal Reserve chair Jerome Powell. Speaking before a House committee, Powell again stressed that the Fed hopes to …
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