Select the account you'd like to open

Amazon.com set to rewrite history on futures trade indication

online shopping written on a brown box on a computer keyboard

The S&P/ASX 200 closed up 1.6% for the week with a gain of 18 points, or 0.3%, to 7096.10 on Friday as US futures rise.

The e-commerce giant Amazon.com is poised to add nearly $US200bn in market value if the stock’s 14% gain in after-hours trading following the company’s fourth-quarter earnings report holds to Friday’s close, reports Bloomberg. That what would be the biggest single-day gain in US stock market history coming just a day after Facebook parent Meta Platforms entered the other end of the record book with a $US251bn wipe-out.

Hong Kong’s Hang Seng jumped 2%, Japan’s markets are higher, while China’s indices remain closed for the Lunar New Year holiday.

Gold is heading for a weekly gain ahead of the US non-farm payrolls data on Friday, while WTI crude oil moved above $US91 a barrel and Brent was above $US92 on continued supply concerns and the Ukraine-Russia situation.

Australia’s Reserve Bank said in its Statement on Monetary Policy that inflation was likely to breach 3% for the first time since 2010.

The Aussie dollar is at US71.49c against the US dollar.

Bitcoin is at $US37,284.

Gold is at $US1807.22 an ounce.

Brent crude oil is trading around $US92.14 a barrel.

WTI crude oil is at $US91.22 a barrel.

Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

Sign up for market update emails