Wall St ends mixed amid COVID-19 spikes, muted data: Aus shares to open lower

19Jun

Wall St ends mixed amid COVID-19 spikes, muted data: Aus shares to open lower

 

Local shares look set for a weaker start to the day following a mixed finish on Wall Street. Shares in the US had a rather underwhelming session and there seems to be a lack of a catalyst igniting hopes of further gains in the markets. That being said the broader US market is 8 per cent off record levels. Facebook, Amazon and Netflix all closed slightly higher to lift the Nasdaq. But, declines in Carnival and American Airlines kept a lid on the S&P 500′s gains.

Several states in the U.S. are experiencing a resurgence of COVID-19 infections. Arizona reported a record-high number of new confirmed cases, while Texas saw an 11 per cent daily spike in hospitalizations for patients with Covid-19 on Wednesday. California, meanwhile, reported its largest-ever daily increase of coronavirus cases. Donald Trump said the US will not lock down again despite rising cases.

Meantime in China, the country’s capital city has reportedly closed schools and cancelled flights to contain the latest wave of coronavirus cases. However, a disease expert in China announced the latest outbreak of coronavirus cases in Beijing had been brought under control.

The price of iron ore could be set to slide today after Vale received approval to restart some of its operations in Brazil.

US economic news

Initial U.S. weekly jobless claims rose more than expected last week, coming in at 1.508 million. Economists polled by Dow Jones expected a print of 1.3 million.

The Philadelphia Fed Reserve manufacturing index saw a big rebound from last month rising from -43.1 to 27.5 in June.

Local economic news

Today the ABS releases preliminary trade data for may with sales tipped to have rebounded.

Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.2 per cent to 26,080 the S&P 500 added 0.1 per cent to 3115 and the NASDAQ closed 0.3 per cent higher at 9943.

European markets closed lower, London’s FTSE fell 0.5 per cent, Paris lost 0.8 per cent and Frankfurt closed 0.8 per cent lower.

Asian markets closed mixed, Tokyo’s Nikkei fell 0.5 per cent, Hong Kong’s Hang Seng closed 0.1 per cent lower, and China’s Shanghai Composite added 0.1 per cent.

Locally, the SPI futures are pointing to a 0.1 per cent fall.

Yesterday, the Australian share market closed 0.9 per cent lower at 5936.

Company news

AMP has appointed Boe Pahari as Chief Executive Officer of AMP Capital, He wil take the reigns from July 1st. Mr Pahari succeeds Adam Tindall who will retire from AMP after almost five years leading AMP Capital. Shares in AMP (ASX:AMP) closed 0.3 per cent higher at $1.74 yesterday.

Currencies

One Australian Dollar at 8:00 AM was buying 68.49 US cents, 55.16 Pence Sterling, 73.27 Yen and 61.14 Euro cents.

Commodities

Iron Ore lost 2.4 per cent to US$102.40.
Iron Ore futures suggest a 0.7 per cent gain.
Gold has lost $4.50 to US$1731.10 an ounce.
Silver was down 27 cents to US$17.51 an ounce.
Oil has gained $0.88 to US$38.84 a barrel.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

28Feb

Dow plunges: ASX poised to open lower

28 Feb 2020 - The ASX looks set to plunge this morning after volatile trading in the US as reports the coronavirus may be spreading to America. Both the Dow and the S&P 500 had their worst day since February 2018 while the Nasdaq posted its biggest one-day loss since August 2011. Employee experience software company Limeade (ASX:LME) reports NPAT up 26 per cent.

Read More
10Nov

Wall St falls, oil price surges, Newscorp’s target price gets a boost: ASX poised to lift

10 Nov 2021 - Wall St takes a breather after investors digested producer inflation figures. The ASX slipped for its 2nd day. Deep dive on NAB’s results (ASX:NAB) & what investors didn’t like. Macquarie boosted Newscorp’s (ASX:NWS) target price while REA Group, which is 61% owned by Newcorp, got a rating downgrade by UBS.

Read More
26Sep

Fireworks across global financial markets as macro picture dominates

26 Sep 2022 - Friday’s fireworks on financial markets - especially bonds and currencies - drove another day of falls to cap a brutal week for investors. A majority of equity investors have now adopted the view that a hard landing scenario is inevitable and their focus is on the timing, magnitude, and duration of a potential recession and investment strategies for that outlook.

Read More
31Aug

Aus shares edge up in choppy trade: S&P/ASX 200 0.2% higher at noon

31 Aug 2020 - The local bourse has edged higher in choppy trade defying expectations of a slip as some of the big banks and BHP trade higher. The S&P/ASX 200 index is 11 points hup or 0.2 per cent higher at 6,085. On the futures market the SPI is 12 points higher.

Read More
25Jun

Dow outperforms as investors rotate out of tech names

25 Jun 2024 - The Dow Jones outperformed the two other major indices as investors appeared to rotate out of tech and into financials and utilities, whilst the sell off in Nvidia gathered pace.

Read More
05Sep

US markets closed; Stoxx 600 closed flat; China’s property stocks surge

05 Sep 2023 - US markets were closed overnight due to labour day. The Stoxx 600 index ended little changed from the previous session, paring gains after hitting its highest level since Aug. 9 in morning trade.

Read More
12Aug

Fisher & Paykel Healthcare Corporation: ASX closed 0.1% lower

12 Aug 2020 - It has been a positive day of trade for the ASX after a small dip around lunchtime the local bourse managed to close 0.1% lower. Fisher & Paykel Healthcare Corporation (ASX:FPH) have been designated an “essential service” and will continue to manufacture products from its Auckland facilities despite New Zealand’s new lockdown. Lifestyle Communities’ (ASX:LIC) profit after tax was $42.8 million for the 2020 financial year, down 22.2%.

Read More
21May

Afterpay (ASX:APT) a strong performer after releasing US figures: ASX closes 0.4% lower

21 May 2020 - After opening in the black the local bourse lost momentum to close 0.4% lower. NRW Holdings (ASX:NWH) shares shot up today after reporting record revenue of $1.6 billion for 10 months and EBITDA of $177 million. Afterpay (ASX:APT) was a strong performer. Insurance broking and underwriting company the Steadfast Group (ASX:SDF) has chosen to release its unaudited April 2020 reports.

Read More
28Sep

Dow ticks lower overnight: WTI crude oil records best day since May

28 Sep 2023 - The Dow Jones Industrial Average fell Wednesday, building on the steep losses from the previous session, as an uptick in Treasury yields and oil prices dented investor sentiment.

Read More
17Feb

Asaleo Care (ASX:AHL) has agreed to Essity’s offer: ASX tracking 0.7% lower at noon

17 Feb 2021 - The Australian share market dropped during the early trading hours and is tracking 0.7 per cent lower or 49 points lower at noon at 6,869. On the futures market the SPI is 55 points lower. Materials is the only sector in the green. Asaleo Care (ASX:AHL) has agreed to Essity's offer.

Read More