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Finfeed Archived Aug 21, 2020
The Nasdaq ended Thursday at a record high, with the S&P 500 and Dow Jones also rising, as gains in heavyweight tech stocks outweighed weak data that affirmed the Federal Reserve’s view of a challenging road to economic recovery.
Finfeed Archived Aug 20, 2020
The ASX SPI200 futures index is down 15 points, suggesting that the Australian stock market will take its lead from the US. However it was not all bad news, especially if you invest in Apple, as it became the first publicly listed US company to surpass the US$2 trillion market capitalisation level.
Finfeed Archived Aug 14, 2020
Overseas markets were mixed overnight, as investors assessed the prospect of additional stimulus in the US and subdued economic data in light of the record-breaking rally.
Finfeed Archived Aug 13, 2020
A steep fall in the gold price resulted in substantial downward pressure on the S&P/ASX 200 index (XJO), but a late surge of around 30 points saw it finish just seven points shy from the pervious day.
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Finfeed Archived Aug 12, 2020
While overseas equities markets were generally buoyant there was weakness in a number of commodities, most notably gold which plunged more than 5% to hit a low of US$1911 per ounce. This is likely to result in major gold stocks placing a drag on the broader index, nullifying the prospects of another positive day.
Finfeed Archived Aug 11, 2020
With most markets gaining ground overnight, one would expect another positive day, but the ASX SPI200 Futures Index is only up two points to 6072 points.
Finfeed Archived Aug 07, 2020
Wall Street shrugged off a sluggish start to close higher as the Nasdaq soared above 11,000 points as investors remain bullish on stocks and hope for a new fiscal stimulus package.
Finfeed Archived Aug 06, 2020
The S&P ASX 200 index fell 36 points on Wednesday as concerns loomed regarding possible inaction with regards to fiscal support measures in the US. While Congress appears no closer to releasing formal terms regarding stimulus packages, it didn’t affect US markets as the Dow gained 1.4%.
Finfeed Archived Aug 04, 2020
Strong leads from overseas last night, combined with particularly healthy manufacturing data coming out of China should see our market regain positive momentum today.
Finfeed Archived Aug 03, 2020
After a horror day on Friday, there are no clear indicators that point to a market recovery on Monday. On the domestic front, coronavirus is tightening its grip on Victoria with the declaration of a state of disaster and stage 4 restrictions in Melbourne having a marked detrimental impact on businesses while overseas markets were mixed, suggesting little support from international dynamics.
Finfeed Archived Jul 31, 2020
US stocks traded mostly lower overnight while oil prices fell as government data highlighted the deep economic impacts of the pandemic.
Finfeed Archived Jul 30, 2020
The ASX lacked direction yesterday with negative COVID related news driving the market but direction should be restored with positive news coming from the Federal Reserve FOMC meeting highlighting an intention to address the economic fallout from the coronavirus.
Finfeed Archived Jul 28, 2020
The S&P/ASX 200 index (XJO) defied Friday’s negative leads from overseas to post a gain of 20 points on Monday. Australian producers are benefiting from favourable foreign exchange rates, and this support is likely to continue on Tuesday as the gold price soars.
Finfeed Archived Jul 27, 2020
Geopolitical tensions between the US and China were central to the decline in global markets on Friday, and given recent posturing towards China by the Australian government the issues could well have a significant impact on our markets domestically.
Finfeed Archived Jul 24, 2020
Australian stocks look poised to open lower with futures contracts trading 59 points lower this morning. Gold rose on Thursday while global equities retreated as U.S. stocks were dragged down by a sharp drop in Apple amid a potential probe.
Finfeed Archived Jul 23, 2020
US stocks traded in the black overnight after a somewhat choppy session despite over 1,000 COVID-19 deaths per day and mixed earnings results. Gold prices staged another rally overnight adding about 1.4% to close at U$1,869.3 per ounce.
Finfeed Archived Jul 22, 2020
The S&P/ASX 200 surged 2.6% on Tuesday as the market responded positively to the government’s decision to extend support payments through to March 2021.
Finfeed Archived Jul 20, 2020
The S&P/ASX 200 index closed at 6033 points on Friday, up 1.9% on a week on week basis. However, Friday’s gain was relatively moderate, and is fairly insignificant in terms of providing a lead as to how our markets will perform in the coming week.
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