The ASX is looking red in futures on the last day of earnings, but that could easily change in early trade, considering the S&P 500 just sizzled to yet another all-time high on news the U.S. economy is expanding quite quickly.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Wall Street traders were buying overnight after stats confirmed the economy in the States was ballooning at a revised 3.3% pace in the second quarter.
That eagerness left the S&P as much as +0.3% higher – and at a new high. The Dow Jones, up +0.16%, and the Nasdaq, which gained +0.5%, had similar days.
All this has come together to put Wall Street “back on its winning track” again, at least for the time being, which should bring most indexes in its wake. To date in this third quarter, the S&P 500 is already +4.8% stronger.
(Also to note here, Wall Street won’t open until Tuesday next week, for Labor Day.)
ASX stocks to watch
Now, with State-side traders enjoying the end of that U.S. rally, many Oz traders will be looking at those ‘buy’ buttons – but there’s still some late earnings that could see us break away from our trading big brothers.
Namely, investors can now take a lengthy look at all the released Aussie reports and decide how they feel about the financial year that’s just been.
Crawlers Virgin Australia (ASX:VGN) and Aspen Group (ASX:APZ) also out today.
In other company news, Cettire (ASX:CTT) chalked up full-year losses of around $2.6 million.
And, we’re going to get key Australian stats today, with the juicy details on private sector credit being shared just after lunchtime.
Buck and ore
Now – in forex, the Aussie dollar buys 65.3 US cents.
And then to commodities, all in the greenback,
Iron Ore is up +0.2%, selling at $104.50 a tonne in Singapore,
Brent Crude is at $68.16,
Gold has gained again, selling at $3,420 per ounce, and,
US natgas futures are up +3.4% into the weekend at $2.86 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
Join the discussion. See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.