The Australian share market looks set to open higher this morning as the US raises its economic outlook slightly. Negotiators in the US Congress are close to agreeing a US$900 billion Covid-19 stimulus bill, which could possibly be voted on today. Australia launched a formal appeal to the World Trade Organization looking for a review of China's decision to impose large tariffs on imports of Australian barley. And Bitcoin is back in the news as it breaks above US$20,000 for the first time in history.
Local economic news
The labour force survey is issued with population growth and wealth data.
To the figures from around the globe: Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 30155, the S&P 500 added 0.2 per cent to 3701 and the NASDAQ closed 0.5 per cent higher at 12658.
European markets closed higher: London’s FTSE added 0.9 per cent, Paris gained 0.3 per cent and Frankfurt closed 1.5 per cent higher.
Asian markets closed mostly higher: Tokyo’s Nikkei rose 0.3 per cent, Hong Kong’s Hang Seng gained almost 1 per cent and China’s Shanghai Composite was steady.
Taking all of this into equation, the SPI futures are pointing to a 0.4 per cent rise.
Yesterday, the Australian share market closed 0.7 per cent higher at 6679.
The institutionally owned New Zealand telecommuncations company Chorus (ASX:CNU) have released a proposal for price quality expenditure for their calendar years 2022-2024. Their operating expenditure proposal models total fibre fixed line access services of NZ$625.5 million for the regulatory period 1 up to 2024. This includes regulatory inflation. The copper withdrawal code has been finalised and the Commerce Commission has determined that Chorus must provide end users with 6 months’ notice of copper withdrawal. Shares in Chorus (ASX:CNU) closed 0.6 per cent higher at $7.23.
Concentrated Leaders Fund (ASX:CLF) is paying 1.5 cents fully franked
One Australian Dollar at 7:15 AM was buying 75.69 US cents, 56.13 Pence Sterling, 78.35 Yen and 62.18 Euro cents.
Gold has gained $5.60 to US$1858 an ounce.
Silver has added $0.79 to US$25.37 an ounce.
Oil was up $0.22 to US47.26 a barrel.
Iron Ore futures suggest a 0.6 per cent gain.