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

27Mar

90% of Australian businesses set to be impacted by COVID-19: ASX set to open higher

27 Mar 2020 - Positive leads from US markets mean we are set to see the ASX open higher this morning. All three major benchmarks on Wall Street closed sharply higher yesterday ignoring the US jobless claims surging to more than 3 million in the latest week. Westgold Resources (ASX:WGX) says all of their process plants are operating at full capacity, thanks to the multitude of ore sources Westgold has in the Murchison region.

Read More
04Feb

JB Hi-Fi & Harvey Norman rise after broker upgrades: Aus shares 0.2% higher at noon

04 Feb 2020 - The local sharemarket is trading higher at noon following a flat start to trade. Six of the ten sectors in the green with healthcare leading the gains. Going the other way are the major miners which are weighing on the market. Harvey Norman is up over 6 per cent and JB Hi-Fi is up almost 4 per cent on broker upgrades.

Read More
03Mar

Gold rises from an eight month low: ASX to open higher

03 Mar 2021 - Despite weak leads from US markets, the ASX looks set to open higher this morning. US stocks fell yesterday as technology stocks took a dip. Apple and Microsoft fell about 1% each. On the commodities front, gold prices rose yesterday, from a more than eight-month low, as a retreat in the dollar and US Treasury yields lifted demand. Piedmont Lithium Inc, a newly formed US corporation will acquire Piedmont (ASX:PLL).

Read More
21Mar

Retail turnover falls 1.1% MoM in Feb: Aus shares 0.2% lower at noon

19 Mar 2021 - The Australian share market opened lower and has continued on this trajectory into the mid-session. Energy stocks are dragging on the market despite signs of recovery in the iron ore price. This follows a rocky session on Wall Street overnight which saw the tech heavy Nasdaq lose 3.02 per cent. Morgan Stanley says shares in Westpac (ASX:WBC) are overweight, setting a target price of $25.30.

Read More
16Dec

Wall St roars in relief rally, Tech shares jump, CSL’s rating gets upgraded: ASX to rise

16 Dec 2021 - Wall St roars after a red start led by technology stocks after the Fed unveiled the speed up of its taper plans. European markets mixed ahead of the ECB and BoE meeting. Qantas' full year results set to take-off.

Read More
16Apr

Dow notches all-time high: ASX set to open higher

16 Apr 2021 - The ASX is set for a higher start, as a result of bullish performances of the benchmark indices on Wall Street overnight. The Dow Jones Industrial Average advanced by 305 points into the unknown territory of the 34,000s to reach an all-time high. US stocks soared after upbeat data from the Commerce Department, indicating a 10-month high rise of 9.8 per cent in retail sales for March. Stateside unemployment has also hit a post-pandemic low,...

Read More
20Jan

Lynas (ASX:LYC) defends High Court proceedings: Aus shares to open higher

20 Jan 2020 - The ASX is set to open higher following strong leads from Europe and US markets. US major indices inked fresh record highs on Friday fuelled by tech stocks, robust retail data and positive sentiment generated from the US-China phase 1 trade deal. In Europe, utility stocks soared on the German Government’s plans to compensate RWE € 2.6B for costs related to the country's planned coal exit.

Read More
13Jul

US stocks rise after CPI data comes in cooler than expected

13 Jul 2023 - Stocks rose overnight after new data raised hope that the Federal Reserve can bring down inflation without pushing the US economy into a recession.

Read More
15Mar

Covid-19 fears spark Nasdaq, S&P 500 fall, China tech regulation bites again: ASX to fall

15 Mar 2022 - Wall St closed mixed amid ongoing concerns in Ukraine ahead of the Fed’s policy decision on Thursday. European shares rose on hopes of peace talks while price of oil & gold fell. China's tech sector comes under scrutiny again amid a fresh Covid-19 lockdown in China.

Read More
22Sep

RBA suggest pushing rates towards 0%: ASX tracking 0.9% lower at noon

22 Sep 2020 - The ASX dropped at the open and is now tracking 0.9% lower at noon. Shares in Collins Foods (ASX:CKF) did well today leading the pack as Virgin Money (ASX:VUK) shares dropped throughout the morning. As for the sectors, Infotech is up and Materials is pulling the market lower. Redcape Hotel Group Management Ltd (ASX:RDC) reported the positive trading has continued and the first quarter of FY21.

Read More