The ASX [XJO] is expected to open lower this morning due to the US market lead which saw the DOW, NASDAQ and S&P500 all closing in the red. Whether the ASX recovers by close of trading today is uncertain.
Why is the ASX expected to 'slide'
The media and the world is still saturated by uncertainty, the US are struggling with rising Covid19 cases (apparently 100,000+ new cases per day) and are still in talks about lockdowns, the Australian Prime Minister Scott Morrison is hinting at serious China threats, which you can read more about here, and a vaccine is still sometime away. Oh, I forgot to mention the US Stimulus negotiations which seemingly dissolved, and apparently now US citizens may not receive a new stimulus until 2021. Hang on, another thing, Donald Trump also hasn't conceded the election results and is still launching legal action and disputing the results in certain states.
So yes, expect to see some more red days in the coming month.
Source: disallowed link/post/asx-predicted-to-be-lower-today-here-s-why
Why is the ASX expected to 'slide'
The media and the world is still saturated by uncertainty, the US are struggling with rising Covid19 cases (apparently 100,000+ new cases per day) and are still in talks about lockdowns, the Australian Prime Minister Scott Morrison is hinting at serious China threats, which you can read more about here, and a vaccine is still sometime away. Oh, I forgot to mention the US Stimulus negotiations which seemingly dissolved, and apparently now US citizens may not receive a new stimulus until 2021. Hang on, another thing, Donald Trump also hasn't conceded the election results and is still launching legal action and disputing the results in certain states.
So yes, expect to see some more red days in the coming month.
Source: disallowed link/post/asx-predicted-to-be-lower-today-here-s-why
