The Australian share market is set to push higher at the open, following a record close for US stocks. All three major indices, pushed higher after US President Donald Trump promised he would deliver a “phenomenal” tax announcement over the next two to three weeks.
The S&P 500 soared to close at a new all-time high, with financials rising 1.4%, while the Dow Jones rose about 115 points, with Goldman Sachs etching the most gains. The tech heavy Nasdaq also rallied on the news, and also hit at a new record high.
Local economic newsWe can expect the RBA to release its Monetary Policy for February, with updated growth and inflation forecasts.
Also later today, the housing finance numbers for December with analysts tipping there will be a 1.2% rise in new loans.
MarketsWall Street closed up yesterday: The Dow Jones Industrial Average added 0.6 per cent to close at 20,172 the S&P 500 also added 0.6 per cent to close at 2,308 and the NASDAQ also added 0.6 per cent to close at 5,715.
European markets also higher: London’s FTSE rose 0.6 per cent, Paris gained 1.3 per cent and Frankfurt gained 0.9 per cent.
Asian markets mixed: Tokyo’s Nikkei lost 0.5 per cent, Hong Kong’s Hang Seng rose 0.2 per cent, and China’s Shanghai Composite jumped 0.5 per cent.
Back home, the Australian share market closed higher yesterday. S&P/ASX 200 index closed 13 points (or 0.23%) higher to finish at 5,665.
On the futures market the SPI is 24 points higher.
Company newsHenderson Group PLC
(ASX:HGG) has announced its underlying profit before tax fell to £212.7M for the full year ending 31 December 2016. The global fund manager says its profit fell amid challenging market conditions, compared to the prior corresponding period. Meanwhile, the group's Assets Under Management (AUM) grew by 10%, while its outflows also decreased, both compared to the full 2015 year. Henderson Group says its transformational merger with international investment manager, Janus Capital, positions Henderson for future growth.
Shares in Henderson Group PLC
(ASX:HGG) closed lower yesterday by 0.55% to $3.60.
Reporting seasonTaking a look at companies to report financial results today, we can watch out for online real estate advertising company, REA Group
(ASX:REA), which will report its first half 2017 results.
Ex-dividendsTwo companies are going ex-dividend today
-BKI Investments Limited (ASX: BKI) will pay 3.6 cents fully franked and
-Managed Accounts
(ASX:MGP) is paying 0.2 cents unfranked.
Currencies The Australian Dollar at 8.30am was buying US$0.7629, 61.04 Pence Sterling, 86.36 Yen and 71.58 Euro cents.
CommoditiesGold has lost $7.20 to $US1,232 an ounce.
Silver has fallen 3 cents to $17.67.
Oil has gained 61 cents to $US53.08 a barrel.
