The NASDAQ 100 leaps over 4 per cent: ASX poised to open higher


The Australian share market looks set to open higher this morning as tech stocks rallied in the US. The NASDAQ 100 leapt over 4 per cent points - it’s best day in four months. Tesla shares gained 19 per cent. Gold surged more than 2 per cent on Tuesday on the back of a retreat in US Treasury yields and a weaker dollar. Oil fell over a supply disruption in Saudi Arabia and a pause in the US dollar rally countered the prospects for tighter supply due to OPEC+ output curbs.

Local economic news

Westpac MI consumer confidence March

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average added 0.1 per cent to close at 31,833, the S&P 500 gained 1.4 per cent to 3875 and the NASDAQ closed 3.7 per cent higher at 13,074.

European markets closed higher: London’s FTSE added 0.2 per cent, Paris gained 0.4 per cent and Frankfurt closed 0.4 per cent higher.

Asian markets closed mixed: Tokyo’s Nikkei gained almost 1 per cent. Hong Kong’s Hang Seng gained 0.8 per cent and China’s Shanghai Composite closed 1.8 per cent lower.

Taking all of this into equation, the SPI futures are pointing to 0.3 per cent gain.

Yesterday, the Australian share market closed 0.5 per cent higher at 6771.

Company news 

Summerset (ASX:SNZ) has bought a property in the desirable suburb of Chirnside Park, northeast Melbourne. This is the New Zealand retirement village operator’s third acquisition in Victoria since September 2019. The proposed NZD$170 million retirement village will offer over 200 retirement units, ranging from one to three-bedrooms and including independent and supported living arrangements. The over-75 population in Chirnside Park is forecast to grow by 60 per cent over the next decade. Shares in Summerset Group (ASX:SNZ) closed 0.3 per cent higher at $12.03 yesterday.

Ex-Dividends

Accent Group Ltd (ASX:AX1) is paying 8 cents fully franked
Brambles Limited (ASX:BXB) is paying 13.08 cents 30 per cent franked
Capral Limited (ASX:CAA) is paying 45 cents fully franked
Costa Group Holdings (ASX:CGC) is paying 5 cents fully franked
1300 Smiles Limited (ASX:ONT) is paying 14.5 cents fully franked
Regis Healthcare Ltd (ASX:REG) is paying 2 cents 50 per cent franked
Regis Resources (ASX:RRL) is paying 4 cents fully franked
Reliance Worldwide (ASX:RWC) is paying 6 cents 20 per cent franked
RXP Services Ltd (ASX:RXP) is paying 5 cents fully franked
Shaver Shop Group Ltd (ASX:SSG) is paying 3.2 cents fully franked

Currencies

One Australian Dollar at 8:20 AM was buying 77.18 US cents, 55.56 Pence Sterling, 83.74 Yen and 64.84 Euro cents.

Commodities

Iron Ore has lost 5.7 per cent to US$164.41.
Iron Ore futures suggest a 5.6 per cent fall.
Gold has gained $36.90 to US$1715 an ounce.
Silver has added $0.75 to US$26.02 an ounce.
Oil has fallen $1.31 to US$63.74 a barrel.