The Australian share market looks set to nudge higher, following more positive leads from Wall Street. The Dow Jones inked its 6th straight record close with Telcos and Financials propping up the market. The tech heavy Nasdaq also notched a record close too.
It comes as the Federal Reserve kicked off a two-day meeting, with interest rates expected to remain on hold. But traders and investors believe the Fed will announce the unwinding of its US$4.5 trillion portfolio.
On the commodities front, the iron ore price has slipped over 1.5 per cent, while the oil price marginally fell.
US economic newsThe Current Account Deficit (CAD), which measures the flow of goods, services and investments into and out of America, increased to highest level since 2008 in the second quarter of 2017. It rise was more than expected and the CAD rose to $123.1 billion from $113.5 billion in first quarter. It comes as US secondary and primary income fell.
Also out of the US, housing starts fell 0.8 per cent in August, marking the second monthly drop. Housing starts fell to a seasonally adjusted annual rate of 1.18 million units. However, that number is expected to worsen in September with the aftermarth of Hurricane Harvey and Irma
Market Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.2 per cent to close at 22,371, the S&P 500 added 0.1 per cent to close at 2,507 and the NASDAQ advanced 0.1 per cent to close at 6,461.
European markets closed higher: London’s FTSE added 0.3 per cent, Paris gained 0.2 per cent and Frankfurt gained 0.02 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 2 per cent, Hong Kong’s Hang Seng lost 0.4 per cent, and China’s Shanghai Composite slipped 0.2 per cent.
And back home, the Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 7 points down or 0.12 per cent lower to finish at 5,714.
On the futures market the SPI is 11 points up.
Company newsMoelis Australia
(ASX:MOE) has snapped up a controlling interest in Infinite Care, for $45.4 million. The financial services group purchased 70 per cent aged care organization. Moelis will also establish a Healthcare REIT. Once Infinite Care’s 1,500 bed pipeline is developed it will have a total value of $450 million. Shares in Moelis Australia
(ASX:MOE) are last traded 1.4 per cent lower at $5.62.
Ex-dividends10 companies are going ex-dividend today
Apiam Animal Health
(ASX:AHX) is paying 0.8 cents fully franked
Cellnet Group
(ASX:CLT) is paying 1.25 23.36per cent franked
Desane Group Hldings
(ASX:DGH) is paying 12.25 cents fully franked
Glennon SML Co Ltd
(ASX:GC1) is paying 3 cents fully franked
Link Admin
(ASX:LNK) is paying 8 cents fully franked
McGrath
(ASX:MEA) is paying 1 cent fully franked
Macq Atlas Roads Grp
(ASX:MQA) is paying 10 cents unfranked
Newcrest Mining
(ASX:NCM) 9.54 cents 70 per cent franked
1300 Smiles
(ASX:ONT) is paying 11.75 cents fully franked
RCR Tomlinson
(ASX:RCR) is paying 6 cents unfranked
CurrenciesOne Australian Dollar at 7:50 was buying 80.12 US cents, 59.35 Pence Sterling, 89.37 Yen and 66.79 Euro cents.
CommoditiesGold has gained $3.80 to $US1,315 an ounce.
Silver has gained $0.20 to $US17.36 an ounce.
Oil has lost $0.07 to $US50.28 a barrel
