Trans-Tasman travel bubble announcement due: ASX poised to open higher

06Apr

Trans-Tasman travel bubble announcement due: ASX poised to open higher

 

The Australian share market looks set to open higher this morning after the four day long Easter weekend. Before the weekend, the US had promising payroll data for March leading to a rise in both the Dow and the S&P. Now that our daylight savings ended this weekend, Wall Street’s closing bell now rings at 6am for us. Tesla shares jump as much as 7 per cent after first-quarter sales surge. New Zealand Prime Minister Jacinda Ardern is expected to announce the start date for a trans-Tasman bubble with Australia.

Local economic news 

Today the Reserve Bank Board is holding its April meeting. No change in policy settings is expected. The ANZ will release the job advertisements data today. On Wednesday, the AiGroup releases its March Performance of Construction index. And the weekly reading of consumer sentiment is issued by ANZ and Roy Morgan. On Friday, AiGroup releases its Performance of Services index. And the Reserve Bank releases the six-monthly Financial Stability Review. Focus is on the discussion of lending standards. Also, on Friday the ABS will release data on building approvals for small geographic areas.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1.1 per cent to close at 33,527 the S&P 500 added 1.4 per cent to 4078 and the NASDAQ closed 1.7 per cent higher at 13,706.

European markets were closed yesterday.

In Asian markets, Tokyo’s Nikkei gained 0.8 per cent, while Hong Kong’s Hang Seng and China’s Shanghai Composite were closed.

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

On Thursday, the Australian share market closed 0.6 per cent higher at 6829.

Company news

Sky (ASX:SKT) New Zealand and global entertainment conglomerate NBCUniversal have signed an expanded multiyear deal for movies, drama, comedy, entertainment, reality and news across broadcast channels, on demand and streaming. The agreement includes series produced by Sky Studios and Universal Studio Group, which is comprised of Universal Television, UCP, NBCU International Studios and Universal Television Alternative Studios. Movies and linear channel brands E! and CNBC, will also be a part of this deal, increasing Sky’s content offering across its channels and platforms including Neon, Sky Go, Sky On Demand and free-to-air channel Prime. Shares in Sky Network Television (ASX:SKT) closed 3.03 per cent lower at $0.16 on Thursday.

Ex-Dividends

Eildon Capital Group (ASX:EDC) is paying 2 cents unfranked
Monash Absolute Investment Company (ASX:MA1) is paying 13 cents fully franked
Perpetual Equity Investment Company (ASX:PIC) is paying 2.8 cents fully franked
Sigma Health Ltd (ASX:SIG) is paying 1 cent fully franked

Currencies

One Australian Dollar at 8:00 AM was buying 76.53 US cents, 55.02 Pence Sterling, 84.31 Yen and 64.77 Euro cents.

Commodities

Gold has added $0.40 to US$1729 an ounce.
Silver has lost $0.17 to US$24.78 an ounce.
Oil was down $2.80 to US$58.65 a barrel.
 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

12Feb

Genworth (ASX:GMA) scraps dividend after $174M loss: Aus shares 0.3% lower at noon

12 Feb 2021 - The Australian share market opened flat following mixed leads from Wall Street and is tracking 0.3 per cent lower at noon. Most of the sectors are down this morning with Energy suffering the worst losses. Genworth Mortgage Insurance Australia (ASX:GMA) has scrapped its dividend after recording a $174.1 million loss for the 2020 financial year. The company made a statutory net loss after tax of $107.6 million.

Read More
18Jun

Megacap tech names lead US markets to new record

18 Jun 2024 - Megacap tech names led the broader market to another record close as Nvidia hit a new intraday all time high amid growing optimism about Fed rate cuts.

Read More
06Jan

Employment ads surged 9.2% in December: ASX closes 0.03% down

05 Dec 2021 - The ASX closed almost flat today, 2 points down or 0.03 per cent lower at 6,682. Shares in Silver Lake Resources (ASX:SLR) rose today. Zip Co (ASX:Z1P) shares are down today. Yesterday they opened their Share Purchase Plan. The Cardinal Resources (ASX:CDV) board recommends shareholders accept the Shandong Gold offer without delay.

Read More
22Sep

Uncertainty over US stimulus sinks stocks: ASX poised to open lower

22 Sep 2020 - The ASX looks set to open lower this morning after a sharp sell-off in the US. There’s concern over the lack of certainty over plans for the fiscal stimulus to support the unemployed in the US. Oracle’s agreement to take a stake in TikTok has won the blessing of US President Donald Trump. And Pushpay Holdings (ASX:PPH) has appointed Lorraine Witten as a Director to the Board.

Read More
08Jul

Jobs report pushes US market to new record close

08 Jul 2024 - The broader market surged to new highs following the release of the much anticipated jobs numbers which pointed to a cooling labour market raising hopes the Fed will stick to its rate cut forecasts for later this calendar year.

Read More
09Jan

US stocks provide first big rally of 2023 after signs that inflation will ease

09 Jan 2023 - US stocks advanced on Friday, after the December jobs report and an economic activity survey showed signs that inflation may be cooling, signalling that the Federal Reserve’s interest rate hikes are showing their intended effect.

Read More
28Jul

US stimulus looms: Aus shares to open higher

28 Jul 2020 - Following positive leads from US markets with Wall Street closing higher, the Australian share market looks set to open in the green this morning. Market sentiment was boosted on the back of a looming US government stimulus package proposed to aid the impact of coronavirus.

Read More
17Aug

JB Hi-Fi lifts retailers as banks slide: Aus shares close 0.8% lower

17 Aug 2020 - The Australian sharemarket finished the day largely in the red despite gains for retail stocks such as JB Hi-Fi and Harvey Norman. JB Hi-Fi ended the session up over 5 per cent after announcing a 21 per cent jump in profit and an almost 80 per cent increase to its final dividend.

Read More
19Sep

Global climate strike kicks off: Aus shares to open higher

20 Sep 2019 - The Australian share market looks set to open higher following strong leads from the US. Overnight the OECD released an interim economic outlook report projecting the weakest annual growth rates since the financial crisis. Cedar Woods Properties (ASX:CWP) has penned a conditional agreement to acquire a 12.4 ha property in WA for $21.2 million.

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