Australia markets closed

ASX closes flat

Here's the latest market news. Source: Getty

The benchmark S&P/ASX200 (^AXJO) has closed flat, following Wall Street’s lead overnight.

The broader All Ordinaries index (^AORD) also closed flat.

What happened this morning?

The benchmark S&P/ASX200 (^AXJO) opened relatively flat, posting gains of 1.02 per cent at 10.09 AEST.

The broader All Ordinaries index (^AORD) was also up 1 per cent at 10.09 AEST.

Investors on Friday will be watching preliminary retail trade data for May, to see whether the economy is recovering as virus restrictions are eased.

All sectors were trading higher except for health and property, with consumer discretionary being the best performer, up 1.30 per cent, followed by telecommunications at 1.06 per cent.

Among major banks, three of the four were trading higher, with ANZ the outlier.

What happened overnight in the US?

The S&P 500 closed nominally higher, after oscillating through much of the day as investors weighed a resurgence in coronavirus infections and the possibility of a new round of shutdowns.

"There are a lot of impulses in the market for investors to weigh, sift through and take into account to figure out the next direction,” Chuck Carlson, chief executive officer at Horizon Investment Services told AAP.

Senior market strategist for Allianz Investment Management, Charlie Ripply, said investors were in “wait-and-see” mode.

"The consensus is we're on the road to the recovery but there could be bumps along the way and these increasing virus numbers could be one of those bumps," Ripley added.

The Dow Jones Industrial Average fell 39.51 points, or 0.15 per cent, to 26,080.1, the S&P 500 gained 1.85 points, or 0.06 per cent, to 3,115.34 and the Nasdaq Composite added 32.52 points, or 0.33 per cent, to 9,943.05.

With AAP. 

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