Dow lifts with Apple a big gainer: ASX poised to open higher

Market Reports

by Rachael Jones

Last Movement
$13.590 -$0.046 -0.34%
Data Source:
Last Updated: 23/01/2020 1:16 PM

Following positive leads from US markets, the Australian share market looks set to open higher this morning. It was the first trading day of the new year and Wall Street picked up right where it left off in 2019. The Dow jumped with Chipmakers rising as the best performers of the year. Apple was among the best-performing stocks in the Dow, gaining 2.28%. After hitting 70 cents against the US dollar at the end of last year the Australian dollar has dropped back to 69 US cents.

US economic news

The Federal Reserve will release the minutes from its December meeting. We can also expect to see data on the US manufacturing sector.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average closed 1.2 per cent higher at 28,869, the S&P 500 gained 0.8 per cent to 3258 and the NASDAQ climbed 1.33 per cent to 9092.

European markets closed mixed: London’s FTSE added 0.8 per cent, Paris gained 1.1 per cent and Frankfurt rose by 1 per cent.

Asian markets closed mixed: Tokyo’s Nikkei was closed, Hong Kong’s Hang Seng added 1.3 per cent and China’s Shanghai Composite closed 1.2 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 1 per cent rise.

Yesterday, the Australian share market closed 7 points or 0.1 per cent higher at 6691.

Company news 

Event Hospitality & Entertainment Group (ASX:EVT) says due to the ongoing bushfire threat within Kosciuszko National  Park, the New South Wales National Parks and Wildlife Service has taken the decision to close and evacuate the Park, including Thredbo. The evacuation of Thredbo will be completed by 10:00am this morning and Thredbo will be closed until further notice. The Group’s focus at this time is the safety of all those affected by the fire threat in Thredbo and assisting the relevant authorities with their response to this ongoing situation. Event Hospitality & Entertainment Group (ASX:EVT) leases Thredbo. Shares in Event Hospitality & Entertainment Group (ASX:EVT) closed 1.2 per cent higher at $13.76 yesterday.

Ex-dividends

Clime Capital is paying a dividend of 1.25 cents fully franked

Currencies

One Australian Dollar at 8:16 AM was buying 69.88 US cents, 53.19 Pence Sterling, 75.86 Yen and 62.57 Euro cents.

Commodities

Iron Ore futures suggest a 0.3 per cent rise.
Gold has added $7.70 to US$1531 an ounce.
Silver has gained $0.16 to US$18.09 an ounce.
Oil has added $0.05 to US$61.11 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.