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Futures markets point to another strong day on the ASX

Published 02-JUL-2020 09:19 A.M.


1 minute read

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The S&P/ASX 200 index (XJO) made a solid start to the financial year, gaining 36 points or 0.6% to close at 5934 points.

The ASX SPI200 futures index is up 42 points to 5945 points, suggesting this positive momentum will be sustained on Thursday.

Other markets in the Asia-Pacific region were mixed with the Nikkei 225 shedding 166 points to close at 22,121 points.

The Hang Seng gained 0.5% or 125 points to close at 24,427 points.

Strong manufacturing numbers coming out of China provided a boost for the Shanghai Composite index which gained 41 points or 1.4%, pushing it through the 3000 point barrier to 3026 points.

It was a sea of red in the UK and European region with the FTSE 100 falling 0.2% to 6158 points.

The DAX also succumbed to negative sentiment, shedding 50 points to close at 12,260 points.

The CAC 40 came off 0.2%, closing at 4927 points.

It was a mixed bag in the US with the NASDAQ hitting a new record high of 10,221 points before closing at 10,154 points, a gain of nearly 100 points.

In contrast, the Dow slumped 0.3% to close at 25,784 points.

The main factors at play were encouraging manufacturing data set against below expectation employment figures.

The gold price pulled back from its US$1800 per ounce levels to close at US$1780 per ounce.

The Brent Crude Oil Continuous Contract is hovering in the vicinity of US$42 per barrel.

The iron ore price continues to hover just above US$99 per tonne.

Most base metals trended downwards but not to any great extent.

The Australian dollar is fetching US$0.69.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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