Robust US jobs data boosts Wall St: ASX poised to open higher

09Dec

Robust US jobs data boosts Wall St: ASX poised to open higher

 

Following positive leads from US markets, the Australian share market looks set to start the week by opening higher. Robust US jobs data saw November gains surpass expectations despite global trade and economic uncertainty, boosting Wall Street last week. China’s exports fell in November for the fourth month showing their need to finanlise a trade deal with the US. Overseas shipments fell 1.1 per cent from a year earlier last month, customs data showed yesterday. The 17-month long trade dispute has heightened the risks of a global recession.

Markets

Wall Street closed higher on Friday: The Dow Jones Industrial Average gained 1.2 per cent to close at 28,015, the S&P 500 added 0.9 per cent to close at 3146 and the NASDAQ rose 1 per cent to 8657.

European markets closed higher on Friday: London’s FTSE added 1.4 per cent, Paris gained 1.2 per cent and Frankfurt closed 0.9 per cent higher.

Asian markets closed also higher on Friday: Tokyo’s Nikkei gained 0.2 per cent, Hong Kong’s Hang Seng added 1.1 per cent higher and China’s Shanghai Composite rose 0.4 per cent.

Taking all of this into equation, the SPI futures are pointing to 0.5 per cent gain. On Friday, the Australian share market closed 24 points (0.4 per cent) higher at 6707.

Local economic news 

Tuesday 

Reserve Bank Governor Philip Lowe will give a speech. 
Australian Bureau of Statistics will release figures for Residential Property Price for eight capital cities for September.

Wednesday

Monthly consumer sentiment for the month

Thursday

Credit & debit card lending for October From the Reserve Bank

Company news 

Lifestyle Communities (ASX:LIC) has appointed PricewaterhouseCoopers as the Company’s Auditor. This follows a request from Pitcher Partners to resign as Auditor of the Company and consent by the Australian Securities and Investments Commission to this request. Shareholders voted in favour of the resolution at the Company’s Annual General Meeting which was held on 18 November 2019. Lifestyle Communities (ASX: LIC) houses people over 50 to live an independent life operating as land lease communities which is slightly different to a retirement village. Shares in Lifestyle communities (ASX:LIC) closed 1.21 per cent higher at $8.38 on Friday.

Ex-Dividends

Contango Income Generator Ltd (ASX:CIE) is paying 1 cent fully franked

Currencies

One Australian Dollar at 7:45 AM was buying 68.39 US cents, 52.11 Pence Sterling, 74.29 Yen and 61.85 Euro cents.

Commodities

Iron Ore has added 0.5 per cent to US$89.06.
Iron Ore futures suggest a 2.7 per cent gain.
Gold was down $18 to US$1465 an ounce.
Silver dropped 46 cents to US$16.60 an ounce.
Oil has gained $0.77 to US$59.20 a barrel.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

16Apr

Wesfarmers (ASX:WES) Kmart closes stores: Aus shares 0.9 per cent down

dd Mmm 2020 - The Australian share market dropped at the open and continued to fall closing 0.9 per cent down at the end of trade. Wesfarmers (ASX:WES) Kmart has closed its stores in Queensland, NSW and Victoria as a result of the COVID-19 pandemic.

Read More
21Jun

Taper-talk tumbles Wall St, Why Zip Co is bullish: ASX to fall

21 Jun 2021 - In this report, I cover Wall St's performance on Friday while touching on their weekly performance following US Fed Reserve James Bullard's inflation comment during his interview on CNBC. Why Zip Co (ASX:Z1P) is bullish with a technical chart analysis rated by Sequoia.

Read More
23Apr

Clinuvel Pharmaceuticals (ASX:CUV) launches Scenesse: Aus shares 0.5% higher at noon

23 Apr 2020 - The Australian share market opened higher again this morning and is now trading 0.5 per cent higher at noon. Clinuvel Pharmaceuticals (ASX:CUV) has launched its Scenesse peptide in the People's Republic of China.

Read More
29Nov

Wall St slumps on new Covid-19 variant, Suncorp (ASX:SUN) rated as buy: ASX to fall

29 Nov 2021 - Major indexes around the globe tumbled on Friday after a new iteration of Covid-19, omicron discovered in South Africa, spooked investors. The fear that it may have resistance against vaccines triggered a knee jerk sell down with energy, travel, and financial stocks hard hit while defensives were bruised shedding the least. Market participants sought refuge in gold as bond yields fell.

Read More
22Jun

Wall St snaps back on energy & banks, Why Rio is a sell: ASX to rise

22 Jun 2021 - In this report I cover Wall St's performance and a recap of the Fed's movements in the past week to give you a sense of its snap back. Yesterday the local bourse slumped to its worst day in 4 weeks though the SPI futures a pointing to a 1.3% gain for today. NSW State budget is set to be handed down today.

Read More
16Sep

Northern Star to expand Alaskan gold mine processing plant: ASX closed 0.1 per cent higher

16 Sep 2019 - The ASX managed to gain momentum after lunch today rising to close 0.1% higher. Bellamy’s Australia (ASX:BAL) shares were the big story of the day seeing their shares shoot up over 50% after reports the company is to be bought out by Chinese dairy company for $1.5b. Northern Star Resources (ASX:NST) will invest $43 million to expand the processing plant at its Pogo gold mine in Alaska.

Read More
15Nov

Unemployment figures hit the mark: Aus shares close 0.6% higher

14 Nov 2019 - The Australian share market saw a strong rally off the back of trend unemployment data which met the consensus. The market managed to maintain momentum over the afternoon to finish 0.6 per cent higher. Engineering company Monadelphous Group (ASX:MND) has acquired Chile-based Buildtek and Maqrent.

Read More
12May

Tech stocks bare brunt of inflationary selling: ASX to fall

12 May 2022 - US stocks fell across the board as investors assessed persistent inflation after the consumer price Index rose by an annual rate of 8.3 per cent. Some analysts see the data as a sign that the Fed is behind the curve in curbing inflation. CBA has delivered a $2.3b March quarter profit but warns of margin pressure. NAB has expressed interest in the banking arm of Suncorp.

Read More
17Jun

Leading Index remains at recession levels: Aus shares close 0.8% higher

17 Jun 2020 - The Australian share market rose at the open closing 0.8 per cent up at the end of trade. The Index growth rate remains in deep negative territory with the growth rate weakening sharply over the last six months, dropping from 0.28% in December to the 4.79% in May.

Read More
13Jan

US stocks rise after a fall in consumer price data

13 Jan 2023 - US stocks advanced Thursday after December’s consumer price report showed inflation cooled for the month, raising hopes the Federal Reserve can once again slow interest rate hikes.

Read More