S&P/ASX 200 (INDEXASX:XJO) futures are slightly up after US tech giants were rattled by reports that the Justice Department may probe Google for antitrust violations.
Facebook (NASDAQ:FB) finished down 7.51%, Alphabet (NASDAQ:GOOGL) down 6.12% and Amazon (NASDAQ:AMZN) down 4.64%.
In early May 2019, it was reveal Warren Buffett’s Berkshire Hathaway was buying Amazon, later to be disclosed as a US$900+ million position – Amazon is down more than 10% since May began.
Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished lower but notably the Dow Jones Industrial Average (INDEX:DJX:.DJI) finished up 0.02%.
Stocks fell today on news that the U.S. government is assuming greater oversight of some big tech companies. The Nasdaq dropped 1.6% to enter correction territory, and the S&P 500 fell 0.28%. https://t.co/Q6Y2nbA82E pic.twitter.com/pWP2iQ6EMY
— CNBC (@CNBC) June 3, 2019
All eyes on the RBA today at 2.30pm
The Reserve Bank of Australia meets today to set interest rates, which currently stand at 1.5%.
The consensus is for a 25 basis point cut to 1.25% and we will know the outcome at 2.30pm today.
Lower interest rates are designed to stimulate economies and are generally good for equity markets.
[VIDEO] Morning Report - ASX 200 set for a positive start on Tuesday despite weakness for US stocks overnight https://t.co/O7te10Rsgm
— CommSec (@CommSec) June 3, 2019