Some China tariffs could be lifted by the US: ASX poised to open higher

Market Reports

by Rachael Jones

Australian shares are set to open higher this morning, as more news is released regarding the US China trade talks with Wall Street extending early gains because of this. Some Trump administration officials are pushing for the US to lift tariffs on Chinese goods, according to a new report. Also in the US, media-services provider Netflix rose ahead of their results due out later.

Markets

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.7 per cent to close at 24,370, the S&P 500 added 0.8 per cent to close at 2,636 and the NASDAQ gained 0.7 per cent to close at 7084.

European markets closed lower: London’s FTSE lost 0.4 per cent, Paris lost 0.3 per cent and Frankfurt lost 0.1 per cent.

Asian markets closed lower: Tokyo’s Nikkei lost 0.2 per cent, Hong Kong’s Hang Seng lost 0.5 per cent, and China’s Shanghai Composite lost 0.4 per cent.

Taking all of this into equation, the ASX futures are pointing to a rise of 33 points. Yesterday the Australian share market closed 0.3 per cent higher or 15 points higher 5,850.

Company news

2018 was another record year for Sydney Airport (ASX:SYD) with 44.4 million passengers travelling through the three terminals, an increase of 2.5 per cent compared to 2017. Our strong growth has been underpinned by international capacity increases representing 1.2 million additional seats. Passenger growth on domestic sectors last year was driven by increased load factors on stable capacity. International passenger traffic in December increased 3.7 per cent compared to the prior corresponding period helping offset a decline in domestic traffic growth. Shares in Sydney Airport (ASX:SYD) closed 0.6 per cent lower at $6.60.

Currencies

One Australian Dollar at 8:30AM was buying 71.95 US cents, 55.42 Pence Sterling, 78.58 Yen and 63.19 Euro cents.

Commodities

Iron Ore has added 0.3 per cent to at US$74.55. It's futures suggest a 1.56 per cent gain.
Gold has gained $2.40 to US$1291 an ounce.
Silver has lost $0.09 to US$15.55 an ounce.
Oil has lost $0.09 to US$52.52 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.