Third day for China/US trade talks: ASX poised to open higher

Market Reports

by Rachael Jones

Australian shares are set to open higher this morning, lifted by the US and China trade talks and the potential truce with China pledging to purchase a substantial amount of agricultural, energy, manufactured goods, and other products and services from the US. In the US all three benchmarks pared gains into the close, but gains were muted by the partial shutdown of the US government. Oil surged above US$52 a barrel and entered a bull market.

Markets

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.4 per cent to close at 23,879, the S&P 500 added 0.4 per cent to close at 2,585 and the NASDAQ gained 0.9 per cent to close at 6957.

European markets closed higher: London’s FTSE gained 0.7 per cent, Paris and Frankfurt both gained 0.8 per cent.

Asian markets closed higher: Tokyo’s Nikkei added 1.1 per cent, Hong Kong’s Hang Seng added 2.3 per cent, and China’s Shanghai Composite added 0.7 per cent.

Taking all of this into equation, the ASX futures gained 10 points. Yesterday the Australian share market closed 1 per cent higher or 56 points higher 5,778

Company news

Hearing solutions company Nuheara (ASX:NUH) has placed screening kiosks in some stores globally offering a two minute hearing test. IQconnect hones in on an enhanced sales process by ensuring the IQbuds™ family is fit for purpose for any potential customer. The test determines whether customers have good hearing or mild to moderate hearing loss and ensures they can be successfully supported through the IQbuds™ range. Shares in Nuheara (ASX:NUH) closed 1.3 per cent higher yesterday at $0.08.

Ed-Dividends

We have one company going ex-dividend today BHP (ASX:BHP) 141.8 cents fully franked.

Currencies

One Australian Dollar at 8:30AM was buying 71.76 US cents, 56.09 Pence Sterling, 77.53 Yen and 62.15 Euro cents.

Commodities

Iron Ore has lost 0.8 per cent to at US$73.90.
Gold has gained $8.40 to US$1294 an ounce.
Silver has gained $0.08 to US$15.79 an ounce.
Oil has lost $2.39 to US$52.50 a barrel.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.