Wall St slips, FedEx shares drop on profit forecast: Aus shares to open lower

19Dec

Wall St slips, FedEx shares drop on profit forecast: Aus shares to open lower

 

The Australian sharemarket is set to open lower after stocks slipped on Wall Street. In the US stocks pared gains late in trading and Wall Street fell short of extending its winning streak to six days. The S&P500 and Nasdaq hit all-time intraday highs on optimism about global growth during the session. But investors were cautious with the US House of Representatives voting on two articles of impeachment against US President Donald Trump. Also limiting gains was a 10 per cent fall in FedEx's shares after the company lowered its 2020 profit forecast. Meantime, Facebook helped to boost the S&P500 index as Deutsche Bank raised its price target on the stock.

Local economic news

ABS releases the June quarter population estimates together with the November labour market data.

Markets

To the figures from around the globe: Wall Street closed mixed yesterday: The Dow Jones Industrial Average closed 0.1 per cent lower at 28,239, the S&P 500 fell 0.04 per cent to 3191 and the NASDAQ added 0.1 per cent to 8828.

European markets closed mixed: London’s FTSE added 0.2 per cent, Paris fell 0.2 per cent and Frankfurt dropped 0.5 per cent.

Asian markets closed mixed: Tokyo’s Nikkei fell 0.6 per cent, Hong Kong’s Hang Seng added 0.2 per cent and China’s Shanghai Composite closed 0.2 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.2 per cent fall.

Yesterday, the Australian share market closed 4 points or 0.1 per cent higher at 6851.

Company news

Mirvac Group (ASX: MGR) together with John Holland has been selected to deliver Sydney Metro’s station development at Waterloo in collaboration with the NSW Government. The project has an anticipated end value of $800 million, and will be completed over the next five to six years. Shares in Mirvac Group (ASX:MGR) closed 0.6 per cent lower at $3.20 yesterday.

Ex-Dividends

Kelly Partners Group (ASX:KPG) is paying 1.21 cents fully franked

Currencies

One Australian Dollar at 8:35 AM was buying 68.53 US cents, 52.41 Pence Sterling, 75.11 Yen and 61.67 Euro cents.

Commodities

Iron Ore has lost 0.9 per cent to US$93.20.
Iron Ore futures are flat.
Gold has lost $1.70 to US$1479 an ounce.
Silver has dropped $0.02 to US$17.05 an ounce.
Oil has fallen $0.03 to US$60.97 a barrel.

 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

19Mar

KGL Resources (ASX:KGL) raises $21.57M: Aus shares shed 0.9% over week

19 Mar 2021 - Australian shares fell at the open following negative leads from the US overnight. They continued to sink in early trade. The market managed to shrug off weaker than expected preliminary retail trade data and staged a valiant attempt at a recovery in the second half of the session. But this wasn’t enough to move the S&P/ASX200 into positive territory. At the closing bell the S&P/ASX 200 index closed 0.6 per cent or 38 points lower...

Read More
25Mar

Market lifts on US stimulus agreed of $US2 trillion: ASX closed 5.5% higher

25 Mar 2020 - It has been a positive day of trade for the ASX after rising at the open it managed to stay in positive territory closing 5.5% higher. Qantas (ASX:QAN) shares rose after securing $1.5 billion in debt funding. New Zealand sanitiser manufacturer Zoono Group (ASX:ZNO) has entered into an Exclusive Distribution Agreement with Al Rabban Capital for the distribution in the Middle East and North Africa.

Read More
29Jan

First remuneration report strike for Freedom Foods (ASX:FNP): Aus shares down 2.9% over week

29 Jan 2021 - Aussie shares ended lower today, deepening yesterday’s sell off. Energy stocks were the hardest hit, dropping over 2 per cent as the iron price weakened. At the closing bell the S&P/ASX 200 index closed 42 points or 0.6 per cent lower to finish at 6,607. Over the week, the market has lost 2.9 per cent or 193 points. Freedom Foods Group (ASX:FNP) chalked up its first strike against the remuneration report at today’s AGM.

Read More
15Apr

ASX sets new post-pandemic record: Aus shares close 0.7% higher

14 Apr 2021 - The ASX200 has maintained momentum throughout the day, as the Australian stock market remained immune to US inflation figures and vaccine setbacks. The tech and mining sectors ballooned Aus shares to a new 13-month high.

Read More
21Jan

Share market climbed to 11-month high: ASX closes 0.8% higher

21 Jan 2021 - It's been a positive day on the ASX as it climbed to an 11-month high. Information technology was the best performing sector as buy now, pay later stocks rose early in the day. The biggest drop was Cleanaway Waste Management (ASX:CWY) after Chief Executive Officer Vik Bansal decided to step down as part of a mutual agreement with the Board. At the closing bell the S&P/ASX 200 index closed 53 points higher or 0.8 per...

Read More
10Jan

Tech stocks lift amidst early 2024 challenges

10 Jan 2024 - The S&P 500 trimmed an earlier decline Tuesday, boosted by tech shares, as Wall Street looked to regain its footing after a tough start to 2024.

Read More
27Aug

Wall St falls after Kabul blast, Why Platinum is an underperform: ASX to dip

27 Aug 2021 - Major indexes around the globe sold off ahead of the Fed’s virtual economic symposium at Jackson Hole tomorrow amid the two explosions outside the Kabul airport. Asian markets continued to digest “common prosperity” comments. A deep dive on what it could mean for the economy. Coverage on the yesterday's earnings on the ASX.

Read More
04Mar

Bank and travel stocks lead losses: Aus shares close 1.7% lower

04 Mar 2020 - The Australian share market opened with more losses this morning and continued to fall in the back half of the trading session closing 1.7 per cent lower. Economy grew 0.5 per cent in the December quarter.

Read More
18Jan

ASX heads south: Materials sector drags on market BHP Rio push lower

18 Jan 2021 - The local bourse has fallen in the first two hours of trade with gains in the health care sector unable to offset losses in the materials sector. The S&P/ASX 200 index is 31 points up or 0.5 per cent lower at 6684. On the futures market the SPI is 22 points lower.

Read More
22May

Nasdaq & S&P 500 set new record closes

22 May 2024 - In Tuesday's trading session, US equities saw marginal gains, with investors closely monitoring Nvidia's upcoming quarterly earnings and guidance. However, the Dow faced pressure due to significant declines in JPMorgan Chase shares.

Read More