Thanks Oscar and morning crew.Half-time round-up:Shares shook...

Thanks Oscar and morning crew.


Half-time round-up:

Shares shook off a lethargic open to extend yesterday's gains amid cautious optimism about US-China trade talks.

The ASX 200 kicked higher over the second hour of the session to reach the halfway mark 24 points or 0.4% ahead at 5707. A close around these levels would be the highest since the first week of December.

US stocks advanced overnight ahead of a second day of talks aimed at ending a trade dispute that has damaged growth in both nations. The S&P 500 put on 0.7%. Futures ticked higher this morning amid signs that both sides are serious about a deal. S&P 500 futures were lately up five points or 0.2%.

Asian markets were mixed. China's Shanghai Composite dipped 0.33% and Hong Kong's Hang Seng 0.39%, while Japan's Nikkei added 0.55%.

Back home, I.T. stocks and traditional defensives led the rally. Telecoms added 1.7%, I.T. 1%, health 1.5% and utilities 0.9%. The financial sector edged up 0.4% and materials 0.1%.

Crude oil futures retreated 15 cents or 0.31% this morning to US$48.41 a barrel. Gold futures eased $2 or 0.16%to US$1,287.90 an ounce. The dollar was buying 71.34 US cents.

 

 

Trading: the spec market has a pulse but it's weak. Still waiting for some real action. Might have to wait until next week for more brokers to return to their desks. Of course, a positive outcome from the trade talks could light a fire under markets in general. Only one buy for me this morning: bought the retest of support in WBT. Plenty of room to move higher if she's willing.