XJO 5634 + 40
Yesterday the ASX took news of America pulling out of the Trans Pacific Partnership in stride, rising strongly on the back of rallying iron ore futures and some upbeat company news.
The benchmark S&P/ASX200 rose 0.7 per cent to 5651.6, while the broader All Ordinaries added 0.7 per cent to 5707.5.
Materials particularly iron ore miners lead the charge north. 1
U.S. equities rose on Tuesday, with materials spiking more than 2.5 percent on the back of more executive orders from Trump.
The S&P 500 rose about 0.7 percent, hitting a record high, with materials leading eight sectors higher. Copper futures for March delivery rose more than 2 percent. platinum and palladium futures also advanced more than 2 percent.
"I think the real lift in the market was the second round of executive orders from the White House," said Art Hogan, chief market strategist at Wunderlich Securities. "This is very much a Trump-infrastructure rally."
Trump signed executive orders that will make it easier for TransCanada to build the Keystone XL pipeline and for Energy Transfer Partners to build the final uncompleted portion of the Dakota Access pipeline. 2
The Dow Jones industrial average rose 139 points, or 0.7 percent, to 19,939, with DuPont leading advancers and Verizon the top decliner.
The S&P 500 gained 16 points, or 0.7 percent, to 2,281, with materials leading eight sectors higher and telecommunications lagging.
The Nasdaq composite advanced 44 points, or 0.8 percent, to 5,596.
Gold prices ended the U.S. day session modestly lower Tuesday, on some profit taking from the shorter-term futures traders and on a technical correction after poking to another two-month high overnight.
Gold @ $1208
Aud Gold $1593
