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Wall Street saw a positive trading session with all three major US benchmarks closing in the green. The Dow gained 400 points for a second session, up 1.04%. The S&P500 reached another record high and closed 0.32% higher, while the tech- heavy Nasdaq gained 0.14%.
European markets also extended gains after Wall Street’s record highs, expectations for lower U.S. Federal Reserve rates continue driving the major indexes to all-time highs. The STOXX600 advanced 0.54%.
Locally yesterday the Australian market closed down 0.6%, dragged down by utilities and financials, while materials and healthcare were in the lead. Today’s session however, is looking more positive.
What to watch today:
The SPI futures are suggesting our local market will rise 0.35% at the open this morning.
Also on watch today are the companies reporting their earnings results. So far this morning at the time of recording, the highlights are:
And keep watch of the share price movements for other companies reporting, including the Australian Stock Exchange (ASX:ASX), Origin Energy (ASX:ORG) and Pro Medicus (ASX:PME). In commodities,
And in economic data today, the unemployment rate for July will be out at 11:30am AEST.
Trading Ideas:
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