US unemployment rate reassures investors: ASX set to open higher

Market Reports

by Rachael Jones

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 helped lift Wall St. US unemployment rate dropped which could potentially help American steer clear of a recession for now.

Local economic news 


AiG performance of construction for September


NAB will release its latest business confidence and conditions surveys



Building Approvals, August

Construction Activity, June


Westpac's latest survey of consumers

ABS, Lending to households and businesses, August.


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.


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.


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.


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.

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.