AU Morning Wrap: Wall Street delivers best week since Nov 2020; ASX opens higher
G'day, mooers! Check out the latest news on today's stock market !
• US stocks wrapped up a rebound week with another advance
• Australia shares opened higher on Monday; ASX 200 up 0.61 per cent
• Stocks to watch: Carnarvon Energy, Qube, AGL, Magellan Financial
- moomoo News AU
Wall Street Summary
US stocks wrapped up a rebound week with another advance as investors welcomed clarity on rates and searched for positives from Russia-Ukraine peace talks. Volumes were higher than normal as traders closed out various futures and options contracts during a “triple witching” session.
US stocks wrapped up a rebound week with another advance as investors welcomed clarity on rates and searched for positives from Russia-Ukraine peace talks. Volumes were higher than normal as traders closed out various futures and options contracts during a “triple witching” session.
The $S&P 500 Index (.SPX.US)$ climbed 54 points or 1.17 per cent to a fourth straight gain. The $Dow Jones Industrial Average (.DJI.US)$ put on 274 points or 0.8 per cent. The $Nasdaq Composite Index (.IXIC.US)$ added 279 points or 2.05 per cent. All three indices recorded their best weeks since November 2020.
AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ was set to open 59 points or 0.81 per cent higher, according to futures action. An open at that level looks set for a fourth straight rise for the first time in three weeks. The benchmark was poised to test levels last seen before the Russian invasion of Ukraine.
Australia shares opened higher on this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.61 per cent to 7339 as of 12:19 pm.
AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ was set to open 59 points or 0.81 per cent higher, according to futures action. An open at that level looks set for a fourth straight rise for the first time in three weeks. The benchmark was poised to test levels last seen before the Russian invasion of Ukraine.
Australia shares opened higher on this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.61 per cent to 7339 as of 12:19 pm.
Key Economic Events of the Week
Tuesday 3/22
ANZ and Roy Morgan release weekly report on consumer sentiment. Sentiment is the lowest since October 2020, due to Covid-19, war, petrol prices, floods and interest rate.
ANZ and Roy Morgan release weekly report on consumer sentiment. Sentiment is the lowest since October 2020, due to Covid-19, war, petrol prices, floods and interest rate.
The ABS releases the January data of its experimental Monthly Household Spending Indicator. The indicator uses bank transaction data to get a guide on broader consumer spending.
Wednesday 3/23
Detailed skilled job vacancies data is issued for February by the National Skills Commission.
Detailed skilled job vacancies data is issued for February by the National Skills Commission.
Thursday 3/24
The ABS releases detailed labour market estimates for February.
Stocks to Watch
$Carnarvon Energy Ltd (CVN.AU)$ has entered a trading halt pending an announcement in relation to its Pavo-1 well result in WA.
The ABS releases detailed labour market estimates for February.
Stocks to Watch
$Carnarvon Energy Ltd (CVN.AU)$ has entered a trading halt pending an announcement in relation to its Pavo-1 well result in WA.
$Qube Holdings Ltd (QUB.AU)$ has announced an off-market buy-back program of up to $400m. Follows the sale of its Moorebank Logistics Park which it completed in Dec 2021 & flagged a capital return in its HY results last month.
$AGL Energy Ltd (AGL.AU)$ has secured planning approval to build a grid-scale battery on the site of the soon-to-be-closed Liddell coal-fired power plant in the Hunter Valley, beginning its proposed transition to a low-carbon “energy hub”.
$Magellan Financial Group Ltd (MFG.AU)$ advises that Hamish Douglass has resigned from the investment manager's Board. According to a brief announcement his resignation as a director '...is due solely to his medical leave of absence'.
Ex-dividend Companies
$Adairs Ltd (ADH.AU)$, $K&S Corp Ltd (KSC.AU)$, $NRW Holdings Ltd (NWH.AU)$, $Paragon Care Ltd (PGC.AU)$
Commodities
• Iron ore prices continued to rally on falling port inventories.
• Oil prices are stabilising above US$100 a barrel as investors wait to see if any progress in peace talks between Ukraine and Russia.
• Gold rices declined as a risk-on sentiment returns.
Source: Dow Jones Newswires, Market Index
Ex-dividend Companies
$Adairs Ltd (ADH.AU)$, $K&S Corp Ltd (KSC.AU)$, $NRW Holdings Ltd (NWH.AU)$, $Paragon Care Ltd (PGC.AU)$
Commodities
• Iron ore prices continued to rally on falling port inventories.
• Oil prices are stabilising above US$100 a barrel as investors wait to see if any progress in peace talks between Ukraine and Russia.
• Gold rices declined as a risk-on sentiment returns.
Source: Dow Jones Newswires, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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