The Dow surges surges 450 points: ASX poised to open higher

03Sep

The Dow surges surges 450 points: ASX poised to open higher

 

Following a lift on US markets overnight, the Australian share market looks set to open higher this morning. The top infectious disease expert in the US, Dr. Anthony Fauci, says that the number of daily coronavirus cases in the United States is currently “unacceptably high.” The US is seeing roughly 40,000 new cases a day, but it needs to bring infections down to 10,000 or less per day, Fauci said. Meanwhile, the Trump administration says it will take the next steps as they withdraw from the World Health Organization, a convoluted process that will take at least a year to complete. The price of iron ore is on the rise on reports China’s demand for steel could be high this month and next.

Local Economic News

AiG performance of construction August, ABS Trade balance July

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1.6 per cent to 29,101 the S&P 500 added 1.5 per cent to 3581 and the NASDAQ closed almost 1 per cent higher at 12,056.

European markets closed higher, London’s FTSE gained 1.4 per cent, Paris added 1.9 per cent and Frankfurt closed 2.1 per cent higher.

Asian markets closed mixed, Tokyo’s Nikkei added 0.5 per cent, Hong Kong’s Hang Seng fell 0.3 per cent and China’s Shanghai Composite closed 0.2 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.7 per cent gain.

Yesterday, the Australian share market closed 1.8 per cent higher at 6063.

Company news

Air New Zealand (ASX:AIZ) announces departure of Chief Commercial and Customer Officer Cam Wallace. He will step away from the airline full time on 30 September, and will provide consultancy support to the Chief Executive Officer Greg Foran until the end of 2020. Cam has been with Air New Zealand for 19 years and has held a variety of senior and executive roles. The Company will not be moving immediately to replace Cam’s role. Shares is Air New Zealand (ASX:AIZ) closed flat at $1.24 yesterday.

Ex-Dividends

Auswide Bank Ltd (ASX:ABA) is paying 10.75 cents fully franked
Altium Limited (ASX:ALU) is paying 19 cents unfranked
BHP Group Limited (ASX:BHP) is paying 76.5697 cents fully franked
Big River Industries Ltd (ASX:BRI) is paying 2.4 cents fully franked
Blackwall Limited (ASX:BWF) is paying 2.1 cents fully franked
Blackwall Prop Trust (ASX:BWR) is paying 3.5 cents unfranked
Credit Intelligence (ASX:CI1) is paying 0.05 cents unfranked
Clinuvel Pharmaceut. (ASX:CUV) is paying 2.5 cents unfranked
DWS Ltd (ASX:DWS) is paying 3 cents fully franked
ECP Emerging Growth (ASX:ECP) is paying 2.25 cents fully franked
Gale Pacific Limited (ASX:GAP) is paying 1 cents unfranked
Globe International (ASX:GLB) is paying 6 cents unfranked
Home Consortium (ASX:HMC) is paying 7.5 cents fully franked
Lifestyle Communit. (ASX:LIC) is paying 2.5 cents fully franked
MACA Limited (ASX:MLD) is paying 2.5 cents fully franked
NIB Holdings Limited (ASX:NHF) is paying 4 cents fully franked
1300 Smiles Limited (ASX:ONT) is paying 12.5 cents fully franked
Perpetual Limited (ASX:PPT) is paying 50 cents fully franked
Platinum Asset (ASX:PTM) is paying 11 cents fully franked
Shriro Holdings Ltd (ASX:SHM) is paying 3 cents fully franked
Spark Infrastructure (ASX:SKI) is paying 7 cents unfranked

Currencies

One Australian Dollar at 7:40 AM was buying 73.37 US cents, 54.97 Pence Sterling, 77.91 Yen and 61.91 Euro cents.

Commodities

Iron Ore gained 2.1 per cent to US$127.31.
Iron Ore futures suggest a 1.5 per cent gain.
Gold has lost $29.90 to US$1949 an ounce.
Silver was down $1.03 to US$27.62 an ounce.
Oil was down $1.18 to US$41.58 a barrel.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

08Sep

Scentre Group (ASX:SCG) collects $183 million in rent: Aus shares 1% higher at noon

08 Sep 2020 - The Australian share market has had a stellar start to the morning opening higher, and is now trading almost 1 per cent up at noon. Scentre Group (ASX:SCG) has collected $183 million of rent in August, following a public dispute with Mosaic Brands' (ASX:MOZ) retailers.

Read More
01Jul

US markets close lower after release of new economic data

01 Jul 2024 - US stocks edged lower on Friday as investors processed new economic data indicating a slowdown in inflation and better-than-expected consumer sentiment figures. The market also wrapped up a robust first half of 2024.

Read More
14Sep

ASX higher: Macquarie drags after flagging $300m hit to profits

14 Sep 2020 - Australian shares have opened firmly higher this morning with strong gains from major resources stocks offsetting a heavy loss from Macquarie Group.

Read More
02Mar

Apple shares rise on Buffet’s comments: ASX to open higher

02 Mar 2021 - Following leads from US markets, the ASX looks set to open higher this morning – all three major US equity benchmarks rose. Major sovereign bonds rallied across the globe and the US 10-year yield backed off from its recent high. Apple shares rose 5% yesterday after Berkshire Hathaway chairman and CEO Warren Buffett wrote that his investment firm owns 5.4% of Apple’s stock, making it Berkshire’s third-most valuable asset. PYC Therapeutics (ASX:PYC) lead investigational drug,...

Read More
01May

Wall Street sell off: Aus shares to open lower

01 May 2020 - Following weak leads from US markets, the Australian share market looks set to open lower. US consumer spending plunged by a record 7.5 per cent in March and another 3.8 million Americans filed for unemployment benefits last week. This news sparked a sell off on Wall Street. Medical diagnostic company, Sonic Healthcare (ASX:SHL) has secured a contract with the Australian Government for the provision of a dedicated pathology service. Packaging solution provider, Orora (ASX:ORA) has...

Read More
04Nov

US jobs numbers boost Wall Street: Aus shares to open higher

04 Nov 2019 - The local sharemarket is poised to open higher following strong leads from Wall Street on Friday. In the US stocks rose sharply as investor sentiment got a boost from much stronger-than-expected U.S. jobs data. The Murray Goulburn Co-op (ASX:MGC) has reached an agreement to settle a class action which commenced in May 2016.

Read More
31Mar

Dwelling approvals record a strong rise in February: ASX is tracking 0.4% higher

31 Mar 2021 - The ASX opened higher this morning and is now tracking 0.4% higher at noon. The S&P/ASX 200 index is 94 points up at 6,832. On the futures market the SPI is 96 points higher. Openpay Group (ASX:OPY) have announced a $67.5 million funding package to accelerate its international expansion.

Read More
04Mar

Oil rally takes a breather on Wall St fall, Coking coal hits fresh record high: ASX to open lower

04 Mar 2022 - Wall St closed at session lows amid fears of a commodity shortfall on the expanding sanctions to Russia from the West. US economic data mixed ahead of the jobs report. Oil prices retreat from record highs amid an imminent nuclear deal with Iran. Australia’s trade surplus grows. No economic news.

Read More
26Feb

Tech sector down over 6% on rate fears: Aus shares 2.2% lower at noon

26 Feb 2021 - The Australian share market opened lower following negative leads from Wall Street. It fell in early trade and is tracking 2.2 per cent lower at noon. All of the sectors have fallen this morning, with tech stocks haemorrhaging over 6 per cent. This comes on the back of another surge in the 10-year US Treasury bond yield overnight. Higher rates tend to hit the tech sector especially hard as the group relies heavily on low...

Read More
09Sep

Wall St slides, Iron ore dips, Why a bump in Alumina’s price target: ASX to dip

09 Sep 2021 - Profit taking seen across the major indexes around the globe on uncertainty over central banks' scale back timing amid a climb in Covid-19 cases. Review of yesterday’s decline on the ASX. The reasons behind Citi’s take on Alumina (ASX:AWC).

Read More