The NASDAQ 100 leaps over 4 points: ASX poised to open higher

10Mar

The NASDAQ 100 leaps over 4 points: ASX poised to open higher

 

The Australian share market looks set to open higher this morning as tech stocks rallied in the US. The NASDAQ 100 leapt over 4 points – it’s best day in four months. Tesla shares gained 19 per cent. Gold surged more than 2 per cent on Tuesday on the back of a retreat in US Treasury yields and a weaker dollar. Oil fell over a supply disruption in Saudi Arabia and a pause in the US dollar rally countered the prospects for tighter supply due to OPEC+ output curbs.

Local economic news

Westpac MI consumer confidence for March

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average added 0.1 per cent to close at 31,833, the S&P 500 gained 1.4 per cent to 3875 and the NASDAQ closed 3.7 per cent higher at 13,074.

European markets closed higher: London’s FTSE added 0.2 per cent, Paris gained 0.4 per cent and Frankfurt closed 0.4 per cent higher.

Asian markets closed mixed: Tokyo’s Nikkei gained almost 1 per cent. Hong Kong’s Hang Seng gained 0.8 per cent and China’s Shanghai Composite closed 1.8 per cent lower.

Taking all of this into equation, the SPI futures are pointing to 0.3 per cent gain.

Yesterday, the Australian share market closed 0.5 per cent higher at 6771.

Company news 

Summerset (ASX:SNZ) has bought a property in the desirable suburb of Chirnside Park, northeast Melbourne. This is the New Zealand retirement village operator’s third acquisition in Victoria since September 2019. The proposed NZD$170 million retirement village will offer over 200 retirement units, ranging from one to three-bedrooms and including independent and supported living arrangements. The over-75 population in Chirnside Park is forecast to grow by 60 per cent over the next decade. Shares in Summerset Group (ASX:SNZ) closed 0.3 per cent higher at $12.03 yesterday.

Ex-Dividends

Accent Group Ltd (ASX:AX1) is paying 8 cents fully franked
Brambles Limited (ASX:BXB) is paying 13.08 cents 30 per cent franked
Capral Limited (ASX:CAA) is paying 45 cents fully franked
Costa Group Holdings (ASX:CGC) is paying 5 cents fully franked
1300 Smiles Limited (ASX:ONT) is paying 14.5 cents fully franked
Regis Healthcare Ltd (ASX:REG) is paying 2 cents 50 per cent franked
Regis Resources (ASX:RRL) is paying 4 cents fully franked
Reliance Worldwide (ASX:RWC) is paying 6 cents 20 per cent franked
RXP Services Ltd (ASX:RXP) is paying 5 cents fully franked
Shaver Shop Group Ltd (ASX:SSG) is paying 3.2 cents fully franked

Currencies

One Australian Dollar at 8:20 AM was buying 77.18 US cents, 55.56 Pence Sterling, 83.74 Yen and 64.84 Euro cents.

Commodities

Iron Ore has lost 5.7 per cent to US$164.41.
Iron Ore futures suggest a 5.6 per cent fall.
Gold has gained $36.90 to US$1715 an ounce.
Silver has added $0.75 to US$26.02 an ounce.
Oil has fallen $1.31 to US$63.74 a barrel.
 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

09Jun

Struggles on Wall St as World Bank says 1% inflation hike, Citi says holds NAB as Ords buy Whitehaven: ASX to edge higher

09 Jun 2021 - Today's report covers Wall St's performance amid World Bank’s outlook on global inflation. A wrap up of Tuesday’s local session. An explanation on why NAB (ASX:NAB) is a hold and why Whitehaven Coal (ASX:WHC) is a buy. Consumer confidence results are due while RBA Governor’s online speech is at 9.30am (EST).

Read More
13Apr

Wall St falls on inflation spike, Oil jumps 7%, EML, AdBri, Lynas, Sims on watch: ASX to open lower

13 Apr 2022 - Wall St's rally was short lived after March inflation data came in line with estimates. Asia was mixed as Premier Li encouraged Chinese companies to buy back stock amid an easing of Covid-19 restrictions in Shanghai. Putin says peace talks is a ‘dead end’. Oil prices jump to US$100 a barrel.

Read More
24Sep

Gold sees fresh monthly lows: ASX set to open lower

24 Sep 2020 - The ASX looks set to drop this morning as the S&P 500, the Dow and the Nasdaq all closed lower. Tesla is suing the US government over the Trump administration’s tariffs on parts Tesla imports from China to manufacture its electric cars. NZ energy company Mercury (ASX:MCY) has revised its FY2021 EBITDAF guidance from $515m to $505m.

Read More
25Oct

ResMed (ASX:RMD) shares on the up as profit rises 19%: ASX tracking 0.7% at noon

25 Oct 2019 - The ASX jumped up at the open and is now tracking 0.7% higher at noon. Sandfire Resources (ASX:SFR) dropped today after acquiring all the shares of copper company MOD Resources earlier this week. Medical device maker ResMed (ASX:RMD) shares soared this morning after releasing their first quarter results.

Read More
21Jul

The Morrison government to keep JobKeeper til March: ASX tracking 1.2% higher at noon

21 Jul 2020 - The ASX rallied on the news the government will extend its Jobkeeper allowance until at the end of September to $1200 a fortnight for full-time workers and to $750 for part-time workers, down from the current single rate of $1500. The scheme is being extended until March 28 next year. The local bourse is tracking 1.2 per cent higher at noon.

Read More
06Aug

Shares in Resmed (ASX:RMD) take a dip: ASX tracking 0.7% higher at noon

06 Aug 2020 - The ASX shot up at the open and is now tracking 0.7 per cent higher at noon. Shares in Harvey Norman Holdings (ASX:HVN) are doing well today. Shares in Resmed (ASX:RMD) and the Scentre Group (ASX:SCG) have taken a dip. The Scentre Group (ASX:SCG) released a report today saying their earnings later this month are expected to report net operating cashflow after interest, overheads and tax "in excess" of $250m for the year to June....

Read More
28Jan

Openpay’s (ASX:OPY) revenue up 58%: ASX closes 1.9% lower

28 Jan 2021 - It has been a negative day of trade for the ASX following the biggest decline since October on Wall St. The best performing stock was Unibail-Rodamco Westfield (ASX:URW) following its European shares (URW:NA) rising 19.87% overnight while the worst performing stock is IOOF (ASX:IFL) following the release of their second quarter results.

Read More
09Aug

Markets flat, Momentum back with lithium stocks

09 Aug 2022 - Momentum now seems to be back with the lithium sector, with the catalyst being a very bullish quarterly report issued by US-listed lithum producer Albemarle last week which contained a stunning upgrade to its outlook for this year. The forecast from Albemarle comes after a more than eightfold surge in the price of lithium compounds since the start of the pandemic in 2020.

Read More
07Jul

Morning Report: US stocks fall after better-than-expected jobs data

07 Jul 2023 - Better-than-expected jobs data increased investors’ anxiety around the state of the economy and the path of interest rates.

Read More
21Nov

Nvidia surpasses expectations; Wall St mixed; ASX to open higher

21 Nov 2024 - US markets showed a mixed performance overnight, with the Dow Jones rallying late in the session, closing up 0.3 per cent, while the S&P 500 finished flat. The Nasdaq, however, ended slightly lower, down 0.1 per cent.

Read More