US unemployment rate reassures investors: ASX set to open higher

07Oct

US unemployment rate reassures investors: ASX set to open higher

 

Following positive leads from US markets on Friday , the Australian share market looks set to open higher this morning. A rally in tech stocks led by Apple also helped lift Wall St. US unemployment rate dropped which could potentially help American steer clear of a recession for now.

Local economic news 

Monday

AiG performance of construction for September

Tuesday

NAB will release its latest business confidence and conditions surveys

Wednesday

ABS

Building Approvals, August

Construction Activity, June

Thursday

Westpac's latest survey of consumers

ABS, Lending to households and businesses, August.

Markets

Wall Street closed higher on Friday: The Dow Jones Industrial Average gained 1.4 per cent to close at 26,574, the S&P 500 closed 1.4 higher per cent lower at 2952 and the NASDAQ gained 1.4 per cent to 7982.

European markets closed higher: London’s FTSE added 1.1 per cent, Paris gained 0.9 per cent and Frankfurt gained 0.7 per cent.

Asian markets closed mostly mixed: Tokyo’s Nikkei gained 0.3 per cent, Hong Kong’s Hang Seng was down 1.1 per cent and China’s Shanghai Composite was closed.

Taking all of this into equation, the SPI futures are pointing to a 55 point rise.

On Friday, the Australian share market closed 24 points or 0.4 per cent higher at 6,517.

Company news

Sydney software company DWS (ASX:DWS) has completed the acquisition of certain assets of the software services and products business operated by Object Consulting. Encompassing DWS, Symplicit, Phoenix & Projects Assured, they provide a wide range of services including IT Consulting Services, Managed Application Services, Digital Transformation, Data and Business Analytics, and Robotic Process Automation. The ASX was first notified on 25 September 2019. Shares in DWS (ASX:DWS) closed 0.5 per cent higher at $1.04.

Ex-Dividends

Eildon Capital (ASX:EDC) paying 1.9 cents full ranked.
Naos Emerging Opportunities Company (ASX:NCC) paying 3.5 cents fully franked.
Nick Scali (ASX:NCK) paying 20 cents fully franked.

Currencies

One Australian Dollar at 8:10 AM was buying 67.60 US cents, 54.95 Pence Sterling, 72.13 Yen and 61.57 Euro cents.

Commodities

Gold has lost $0.90 to US$1513 an ounce.
Silver has lost $0.8 cents to US$17.60 an ounce.
Oil has gained by $0.36 to US$52.81 a barrel.
  
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

10Oct

US stocks bounce back amid Israel-Hamas conflict escalation

10 Oct 2023 - Stocks staged a comeback Monday as investors shook off pressures driven by the deadly Israel-Hamas conflict.

Read More
10Nov

US midterm election results hit markets as the red wave fails to materialise

10 Nov 2022 - All eyes were on the midterm US election results overnight as Joe Biden and the Democrats have avoided sweeping defeats but still risk losing control of Congress to the Republicans after election results showed Americans are unwilling to hand a strong political mandate to either party. With election results uncertain, the red wave that investors and betting markets expected did not materialise causing the market sell off.

Read More
13Nov

ABS – Wage Price Index up 0.5 per cent: ASX 0.4 per cent lower at noon

13 Nov 2019 - ASX down 0.4 per cent at noon. Bingo Industries led the way after soaring almost 12 per cent while Beach Energy saw the biggest decline at noon dropping 5.1 per cent.

Read More
15Dec

Wall St slips again on tech rout, Challenger names new CEO, Charter Hall rated as buy: ASX to fall

15 Dec 2021 - Major indexes around the globe decline ahead of central bank meetings amid US data showing producer price inflation hitting a record high. Citi rated Charter Hall (ASX:CHC) as a buy. Challenger (ASX:CGF) names new CEO.

Read More
09Dec

Ten-year high for the Consumer Sentiment Index: ASX closes 0.6% higher

09 Dec 2020 - It has been a positive day of trade for the ASX, which closed 0.6% higher. Shares in Healius (ASAX:HLS) did well today after reporting its pathology business continued its strong revenue growth in October and November. Shares in Perseus Mining (ASX:PRU) didn’t perform so well today after a stellar day yesterday.

Read More
02Aug

More corporate earnings released, copper surges on Chinese optimism

02 Aug 2023 - The S&P 500 fell to start August, as investors navigated a raft of corporate earnings reports and assessed a fresh batch of economic data.

Read More
08Sep

Payroll jobs across Australia fall 0.4 per cent: Aus shares close 1.1% higher

08 Sep 2020 - The Australian share market rose at the open, hitting above the 6000 benchmark, closing 1.1 per cent up at the end of today’s trade. Payroll jobs across Australia fell by 0.4 per cent over the month to 22 August, according to figures released by the Australian Bureau of Statistics (ABS) today.

Read More
16Mar

Credit Suisse on the verge of collapse

16 Mar 2023 - The Dow Jones Industrial Average fell Wednesday as investors contemplated the future of Credit Suisse, a bank with a large international and US presence, and peers.

Read More
24Apr

Markets flat as Chile privatises its lithium industry

24 Apr 2023 - The Dow Jones Industrial Average ended little changed Friday and finished lower for the week as investors evaluated the latest earnings results and concerns of disappointing profits.

Read More
10Dec

Wall Street sees declines: ASX poised to open lower

10 Dec 2019 - Following weak leads from US markets, the ASX looks set to open lower this morning as US stocks saw declines. The losses ended three days of rises on Wall Street, boosted by US jobs report beating analysts expectations. Tower Insurance (ASX:TWR) has started its search for a new CEO after it confirmed that Richard Harding will not extend his contract past next year.

Read More