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Stocks continue positive run amid optimistic outlook

Samantha Menzies
·Contributing editor
·2-min read
Optimistic outlook paints positive picture for AU markets. Source: Getty
Optimistic outlook paints positive picture for AU markets. Source: Getty

Good morning.

Here's everything you need to know about finance markets for today.

ASX: The Australian share market looks set to continue its positive run on Thursday despite a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 33 points or 0.5 per cent higher.

Wall Street: Major averages have closed nearly unchanged, with the S&P 500 closing up slightly after the Federal Reserve released minutes from its most recent meeting that reinforced the US central bank's position to remain patient before raising rates.

AUD: The Australian dollar is trading at 0.7608 to the US dollar as at 7.30am this morning.

Oil: According to Bloomberg, the WTI crude oil price is up 0.6 per cent to US$59.70 a barrel and the Brent crude oil price has climbed 0.6 per cent to US$63.11 a barrel. Global economic recovery optimism supported oil prices.

Gold: According to CNBC, the spot gold price is down 0.25 per cent to US$1,738.70 an ounce. The safe haven asset came under pressure amid hopes of a swift global economic recovery from the pandemic.

Aus Post: The chairman of Australia Post has shot down Christine Holgate's claims he unlawfully stood the ex-chief executive down and abandoned her to a media firestorm. Chair Lucio Di Bartolomeo has taken the former Australia Post CEO to task, rejecting allegations she made in a blistering submission to a Senate inquiry into the Cartier watches affair.

G20: Italy's finance minister says the Group of 20 advanced economies hope to reach an agreement on international corporate taxation by a ministerial meeting in July. While international taxation reform has been in discussion for several years, Finance Minister Daniele Franco said there has been an "acceleration in the process" this year.

5 tricks: After analysing 185 million working hours worth of data, the research revealed that people check email or instant messenger every six minutes, on average. Here are 5 tricks to keep focused.

FOMO: Our property markets have been surging this year with double digit growth in sight for all our capital cities. And now that more Australians feel secure about our economy in general, and their jobs in particular, this will only place more impetus on our markets. Enter FOMO (fear of missing out) - when homebuyers and investors are scared the market is running away from them.

Have a great day.

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