Thursday: 12th December 2016
Overnight Summary as of 7:00 am
- The Australian share market is set to open higher, following the leads from equity markets in the US and Europe, which continued to make gains on Friday
in the post-Trump-election rally.
- At 8.00 a.m. AEDT on Monday, the local share price index was up 23 points, or 0.41 per cent, at 5,582.
- On Wall Street, the Dow Jones Industrial Average rose 0.72 per cent, while the S&P500 gained 0.59 per cent and Nasdaq ended 0.5 per cent higher.
- Earlier, Europe’s STOXX 600 finished up almost 1 per cent higher.
- In local economic news, the Australian Bureau of Statistics will release lending finance figures for October.
- On Friday, the benchmark S&P/ASX 200 index gained 17 points, or 0.31 per cent, to 5,560.6 points.
- The broader All Ordinaries index rose 16.8 points, or 0.30 per cent, to 5,615.8 points.
AUS Emeco Holdings Ltd (EHL.AU) Full year 2016 AGM / Webcast
AUS Washington H Soul Pattinson Full year 2016 Dividend payment date & Company Limited (SOL.AU)
AUS Ozforex Group Ltd (OFX.AU) Interim 2017 Ex-dividend date
NZ Nov REINZ Monthly Housing Price Index
NZ Nov REINZ Residential Market Report
NZ Oct Accommodation Survey
NZ Q3 Wholesale Trade Survey
AUS Oct Lending Finance
60 Day Low. This is a list of codes that made a new 60 day LOW in the past 2 days. We use the 60 day low as this would infer that a breakdown in price has occurred after a period of consolidation OR the stock is declining each day if the code shows repeatedly. The filter uses an above 50 cent price filter, and the codes in Blue are on our watch list. ( source Metastock)
- Wall Street hit a trifecta of records for the third day in a row on Friday as the month-long post-election rally got a boost from healthcare and technology stocks.
- The three main U.S. stock indexes have hit a series of record highs as investors piled into sectors such as banks and industrials, betting that President-elect Donald Trump would usher in a business-friendly environment.
- Trump’s expected agenda of economic stimulus and reduced taxes and regulations has particularly fuelled financial and industrial shares.
- On Friday, sectors that have underperformed – healthcare, consumer staples, utilities and tech – led the way.
- The Dow Jones industrial average rose 142.04 points, or 0.72 per cent, to 19,756.85,
- The S&P 500 gained 13.34 points, or 0.59 per cent, to 2,259.53
- The Nasdaq Composite added 27.14 points, or 0.5 per cent, to 5,444.50.
- The S&P 500 notched its sixth straight day of gains, leaving it up 10.5 per cent for the year.
- Copper prices rose Friday, lifted by hopes for stronger Chinese demand and a rally in crude oil.
- Copper for March delivery closed up 0.8% at $2.6475 a pound on the Comex division of the New York Mercantile Exchange.
- Gold prices posted their fifth straight weekly decline Friday, as money continued to flow out of exchange-traded funds that invest in the precious metal.
- Gold for February delivery closed down 0.9% at $1,161.90 a troy ounce on the Comex division of the New York Mercantile Exchange. A settlement at these levels would be the metal’s lowest close since February.
- IRON ORE: $78.89 -0.18( December contract )
Oil futures firmed on Friday, consolidating gains ahead of a weekend meeting of major oil-producing countries hoping to finalize a deal to cut production.
U.S. crude futures rose 66 cents, or 1.3%, to $51.50 a barrel on the New York Mercantile Exchange.
Brent, the global benchmark, rose 44 cents, or 0.82%, to $54.33 a barrel on London’s ICE Futures Exchange.
The U.S. dollar rose Friday as investors bet that the Federal Reserve will raise U.S. interest-rates next week.
Investors have grown increasingly confident that the Fed is approaching its first interest-rate increase since December 2015. The Fed’s plans for tightening have been repeatedly stymied by global-market volatility and weak economic data.
In recent months, U.S. economic growth and hiring data have been strong, bolstering the case for more tightening.
Fed-funds futures showed that investors assigned a 97% probability of a rate increase at the Dec. 14 Fed meeting, according to CME Group data. Higher rates boost the dollar by making the currency more attractive to yield-seeking investors.
Meanwhile, the euro extended its declines after the European Central Bank on Thursday said it would extend its bond-buying program.
- The Australian dollar is lower against its US counterpart, which has continued to hold firm against major currencies.
- At 8.00 a.m. AEDT on Monday, the local unit was trading at 74.55 US cents, down from 74.65 cents on Friday.
- European shares hit their highest level for 11 months, and were set for their best week since February, following the ECB’s decision to trim the size of its asset purchase program while also extending it for longer than many analysts had expected.
- The ECB said it would reduce its monthly asset buys to 60 billion euros as of April, from the current 80 billion euros, and extend purchases to December from March – three months longer than what some analysts had forecast.
- European bank stocks pulled back on Friday, dropping 1 per cent, but were still up 9.2 percent for the week, with the sector set for its biggest weekly rise since December 2011.
- Analysts said that signs the ECB would continue to provide monetary support for as long as needed complemented the promise of fiscal stimulus in a welcome cocktail for investors.
- Asian shares edged down on Friday but were on track for weekly gains. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent, and was poised for a weekly gain of 2 per cent.
- Japan’s Nikkei stock index ended 1.2 per cent up at its highest closing level since December 2015.
- The Nikkei earlier topped the 19,000-level for the first time in a year, as investors saw both the weak yen and prospects of US President-elect Donald Trump adopting reflationary policies benefiting Japan’s major exporters.
“Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
*Now you know everything.*