Here’s everything you need to know in finance this morning.
Stocks: The Australian share market is expected to build on yesterday’s gain this morning. According to the latest SPI futures, the ASX 200 is poised to open 0.5 per cent or 28 points higher following a positive night of trade on Wall Street. Late in the session the Dow Jones is up 1.5 per cent, the S&P 500 has pushed 1.3 per cent higher, and the Nasdaq is 1.4 per cent higher.
Oil prices surge higher: Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) shares could be on the rise on Wednesday after oil prices surged higher overnight. According to Bloomberg, the WTI crude oil price is up 2.2 per cent to US$53.58 a barrel and the Brent crude oil price climbed 1.5 per cent to US$62.73 a barrel. Oil prices pushed higher after Saudi Arabia pledged to cut production by ~9.8 million barrels per day next month.
Trade deal hopes lifted: President Donald Trump said he isn’t happy with the bipartisan agreement on border security intended to avert another government shutdown, and said he’s still considering declaring a national emergency to bypass Congress to get money for his proposed wall.
EU immigrants: Germany will need at least 260,000 immigrants per year for the next 40 years to meet an increasing labour demand, according to a new study. “Even if men and women worked the same amount and a pension age of 70 were to be introduced in Germany, it would not be possible to meet the demand for skilled labor.”
RBA cash rate cut is happening: Once the weakness in the economy starts to drive the unemployment rate higher, the RBA will have no choice but to lower interest rates. This is the main driver for a cash rate CUT, and it’ll happen soon.
Property market resurgence: Remember, downturns are only temporary, while the long term increase in value of well located capital city properties is permanent. Here’s what we need to see a resurgence in Aussie property markets.
Apartment sales falter: Here is the Aussie suburb most at risk of off-the-plan settlement problems. A supply-demand imbalance and loss of confidence – are you in the danger zone?
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