New vaccine hope boosts global markets: ASX poised to open slightly higher

Market Reports

by Rachael Jones


The Australian share market looks set to open slightly higher this morning with the Dow closing at a record high on vaccine news. The ASX had a set back yesterday with a technical glitch but is all back to normal this morning. And the New South Wales state government has announced it will give every adult in NSW four $25 vouchers to spend separately on dining and entertainment to encourage visits to struggling cafes, restaurants and cultural institutions.

Economic News

Weekly Payroll Jobs and Wages in Australia

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1.6 per cent to close at 29,950, the S&P 500 added 1.2 per cent to 3627 and the NASDAQ closed 0.8 per cent higher at 11,924.

European markets closed higher: London’s FTSE added 1.7 per cent, Paris gained 1.7 per cent and Frankfurt closed 0.5 per cent higher.

Asian markets closed higher: Hong Kong’s Hang Seng gained 2.1 per cent and China’s Shanghai Composite added 0.9 per cent while Tokyo’s Nikkei was 1.1 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 0.1 per cent gain.

Yesterday, the Australian share market closed 1.2 per cent higher at 6484.

Company news

PointsBet Holdings Limited (ASX:PBH) today announced that its wholly owned subsidiary, PointsBet Colorado, LLC has launched in the State of Colorado and has taken the first bet. This represents the Company’s fifth online sportsbook operation in the United States. The next launch is planned for Michigan in Q3 FY21. Michigan will also see the inaugural launch of PointsBet’s iGaming product. Shares in Pointsbet Holdings (ASX:PBH) closed 2.21 per cent higher at $11.54 yesterday.

Currencies

One Australian Dollar at 8:35 AM was buying 73.22 US cents, 55.53 Pence Sterling, 76.57 Yen and 61.78 Euro cents.

Commodities

Iron Ore has added 1.4 per cent to $124.07.
Iron Ore futures suggest a 0.7 per cent gain.
Gold has gained $2.20 to US$1888 an ounce.
Silver has added $0.11 to US$24.88 an ounce.
Oil was up $1.35 to US$41.48 a barrel.

And finally a quick reminder our next online event starts at 12:30pm, details at the link https://www.finnewsnetwork.com.au/page/investor-events. Please register to secure a spot.