Markets

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Aussie shares are slipping for the first time this week, however have bounced off this morning’s lows with the ASX 200 closing in on 6,000pts.

US sharemarkets were mixed on Thursday ahead of Friday’s jobs report. Investors are also awaiting plans for the next round of US economic stimulus.

The Aussie market extended its winning streak to 4 days as the economy continues to reopen. Most sectors finished higher.

Local shares are still climbing for a fourth day in a row and the ASX 200 briefly breached 6,000 points for the first time since March 9. But the index is now only 30 points or 0.5% higher at 5,972, having peaked at 6,040 earlier.

Investors looked past riots and lockdowns, focussing on signs of recovery. Shares in Boeing rose 12.95% on news that billionaire investor Daniel Loeb’s Third Point had purchased a stake in the company.

Investors have taken recession talks in their stride with the ASX 200 firming for a third day in a row and hitting fresh three month highs. The index rose 106 points or 1.83% to 5,941.

The Australian sharemarket is extending its winning streak to three days, with the ASX 200 up 1 per cent to 5,895.3 at lunch.

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Investors balanced new bouts of global stimulus and the economic recovery against trade tensions and US civil unrest.

The Aussie market has improved for a second successive session after the RBA kept rates on hold and reiterated its intention to do so for some time to come.

Early trade on Tuesday has seen the ASX 200 weighed down by losses for US futures after Donald Trump threatened Military intervention if State leaders are unable to contain civil unrest.

Investors focused on signs of an economic recovery, despite growing civil unrest across the US. Shares dipped in early trading following reports that Chinese officials had told agricultural companies to pause some purchases of US farm goods, threatening the US-China trade deal. Apple (+1.2%), Amazon.com (+1.2%) and Facebook (+3%) shares boosted indexes. But Pfizer shares fell 7.2% after reporting disappointing trial results for a breast cancer drug. The Dow Jones index rose by 92 points or 0.4%, the S&P500 index rose 0.4% and the Nasdaq lifted by 62 points or 0.7%.

After a softer start, the ASX 200 has managed to close at the best levels of the day, lifting 63.5 points or 1.1% to 5,819 as investors remain more focussed on optimism around easing lockdown restrictions and a continued decline in new Covid cases.

Aussie shares have bounced back strongly from a slow start, with the ASX 200 index up around 0.76 percent at lunch.

US sharemarkets ended mixed with relief that the US didn’t threaten the China trade deal over Hong Kong. The Dow Jones index fell 17.5 points or 0.1% but the S&P500 index rose 0.5% and the Nasdaq lifted 121 points or 1.3%.

The Aussie market slumped by 1.6% on Friday but still had its second best week of 2020. Banks held the market back most today after standing out earlier in the week.

Local shares are giving back nearly all of yesterday’s gains, this follows losses on Wall Street as US President Trump announced he would hold a press conference discussing China with tensions building between the two countries.

The ASX 200 has improved again as banks continue to drive Aussie shares higher. The benchmark index rose 76pts or 1.3% to 5,851 with the big four banks climbing as much as 4.7%.

Thursday has seen local shares carry on their strong form seen earlier in the week. At lunch, the ASX 200 is jumping another 140 points or 2.4% to 5915.