US Fed rate decision boost global markets: ASX poised to open higher

30Jul

US Fed rate decision boost global markets: ASX poised to open higher

 

The Australian share market looks set to open slightly higher this morning after the US central bank decided to keep interest rates at record lows for longer. Asian stocks look set for gains today after a signal from the Federal Reserve in the US that more stimulus will be provided. Back home futures rose here and in Japan and Hong Kong.

Local Economic News

Business Indicators, Business Impacts of COVID-19, July 2020.
International Trade Price Indexes, June 2020.
Building Approvals, June 2020.

Markets

The Dow Jones Industrial Average added 0.6 per cent to 26,540, the S&P 500 gained 1.2 per cent to 3258 and the NASDAQ closed 1.4 per cent higher at 10,543.

European markets closed mixed, London’s FTSE added 0.04 per cent, Paris gained 0.6 per cent and Frankfurt closed 0.1 per cent lower.

Asian markets closed mixed, Tokyo’s Nikkei fell 1.2 per cent, Hong Kong’s Hang Seng added 0.5 and China’s Shanghai Composite closed 2.1 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 0.9 per cent gain.

Yesterday, the Australian share market closed 0.2 per cent lower at 6006.

Company news

Last week New Zealand rest home company Oceania Healthcare (ASX:OCA) announced its final dividend of 1.2 cents per share is payable on 17 August 2020. Oceania also advised that its dividend reinvestment plan (DRP) would apply to the dividend, for those shareholders that elect to participate by 5.00pm on 4 August 2020. Under the DRP, shares are offered at a 2.5 per cent discount to the volume weighted price of Oceania shares traded through the NZX Main Board in the 5 trading days starting on 31 July 2020. Shares in Oceania Healthcare (ASX:OCA) closed 1.04 per cent lower at $0.95 yesterday

Currencies

One Australian Dollar at 7:45 AM was buying 71.92 US cents, 55.34 Pence Sterling, 75.47 Yen and 61.01 Euro cents.

Commodities

Iron Ore gained 3.7 per cent to US$110.57.
Iron Ore futures suggest a 0.4 per cent gain.
Gold has added $23 to US$1987 an ounce.
Silver was up $0.11 to US$24.41 an ounce.
Oil was up $0.28 to US$41.32 a barrel.

Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

24Nov

Wall St mixed on tech drag, US to release oil from reserves: ASX to open flat

24 Nov 2021 - Major indexes around the globe closed mixed as the tech rout continued. The local bourse bucked the trend rising on strength in the iron ore price. Macquarie upgraded Nickel Mines’ (ASX:NIC) rating. Webjet (ASX:WEB) delivered a cash surplus as high booking volumes return.

Read More
04Nov

Banks down on Westpac (ASX:WBC) report: ASX closes 0.3% higher

04 Nov 2019 - The ASX closed 0.3% higher. Banks didn’t fare so well though. Westpac (ASX:WBC) reported a 15% slump in full-year profit, a cut to its dividend and announced they want to raise $2.5 billion in capital. This news sent NAB’s (ASX:NAB) shares down. And Collins Foods (ASX:CKF) has been served with Federal Court proceedings by Taco Bill Mexican Restaurants.

Read More
20May

Markets fall on doubts over Covid-19 vaccine: ASX poised to open lower

20 May 2020 - After Covid-19 vaccine hopes were questioned yesterday, US markets fell overnight. The Australian share market npw looks set to open lower this morning. Experts now say there is no real way to know how successful the vaccine could be. New Zealand’s Fletcher Building (ASX:FBU) is looking at reducing the number of people employed by 1,500.

Read More
06May

A late rally boosts the market, but not enough: ASX closed 0.4% lower

06 May 2020 - The ASX failed to rise into positive territory today closing 0.4% lower. Nearmap (ASX:NEA) shares are on the rise as are Appen (ASX:APX). Shares in National Storage REIT (ASX:NSR) are down – they completed their $300m institutional placement today. The Goodman Group (ASX:GMG) today announced the appointment of Mark G. Johnson as an Independent Director.

Read More
02Sep

Wall St mixed, Iron ore price falls, BHP ex-div today, Why Webjet is a buy: ASX to dip

02 Sep 2021 - Global shares started September in a mixed fashion after investors digested mixed economic data. Wall St reacted to the private jobs numbers while Eurozone’s taper and inflation talk heats up. Coverage on Amazon’s plans to recruit 55,000 new employees while a McDonald’s in Oregon is looking for younger staff. Asian markets gain as China’s business conditions slightly deteriorate. Back home, the economy grew for the quarter. Why Webjet (ASX:WEB) is a buy after their AGM.

Read More
21Feb

Shares in Cochlear (ASX:COH) lift on H1 results: ASX tracking 0.8% lower at noon

19 Feb 2021 - The ASX dropped at the open and is tracking 0.8% lower or 57 points lower at noon at 6,829. On the futures market, the SPI is suggesting a fall of 54 points. Shares in Cochlear (ASX:COH) did well today as they report strong growth in the US, Japan, Korea and China. Shares in Treasury Wine Estates (ASX:TWE) fell today despite performing well on the market yesterday. Woodside (ASX:WPL) signs LNG supply deal with Germany’s RWE.

Read More
15Jul

Wisr (ASX:WZR) receives funding approval from AOFM: Aus shares 1.3% higher at noon

15 Jul 2020 - The Australian share market rose sharply in the first hour of trade this morning and is now tracking 1.3 per cent up at noon. Neo-lender Wisr (ASX:WZR) has received funding approval from the Australian Office of Financial Management of $30.8 million.

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
29Nov

Unprecedented Chinese protests remove bullish reopening narrative from markets

29 Nov 2022 - Stocks fell Monday as social unrest from China's prolonged Covid restrictions weighed on markets. Protests across China over the country's strict zero-Covid policies shook up global markets over the last 24 hours with concerns authorities will take longer to reopen the world’s second-largest economy. Thousands took to the streets in the biggest challenge to the authority of the Chinese Communist Party in years.

Read More
08Jul

Consumer staples lead the sectors: ASX tracking 0.4% lower at noon

08 Jul 2020 - The Australian share market took a dip at the open and is now tracking almost 0.4 per cent lower at noon. Northern Star Resources (ASX:NST) saw a rise in their shares today. Shares in Domain Holdings (ASX:DHG) took a dip. Sezzle (ASX:SZL) has made some key changes to its leadership team today.

Read More