Daily Market Update

Here’s what Australian financial planners need to know about ASX shares and overseas markets on Friday morning. The ASX is expected to open slightly lower.

The ASX 200 experienced its best day in over seven weeks on Tuesday, adding 2.9% to 5,780 points, with all sectors increasing. The Australian share market has now regained 31.2% from its March lows.

In the USA, it was Memorial Day. However, a strong lead from the local futures market was enough to send the ASX 200 to an 11-week high on Monday, but over 2% for the day.

It was another strong week for global markets with the ASX 200 rising 1.7% and the Dow Jones ending up 3.3% last week, as reporting season continued.

It seems to me that global markets are stuck in a trading pattern, oscillating between euphoria when signs of a vaccine are announced, to despair as new economic results and increasingly protectionist policies are released around the world.

Here’s the Financial Planning news you need to know. Overnight, global share markets recovered on the back of an improving crude oil price, now $32 per barrel, and an uptick in airline bookings, sending both sectors up 4% in the US.

The S&P/ASX 200 (ASX:XJO) is expected to open lower on Wednesday following weak leads from Wall Street.

A covid cure on the horizon? US-based drugmaker Moderna revealed positive results from its human trials of a Coronavirus vaccine, treating those yet to suffer from the disease with some positive results.

The ASX 200 (ASX: XJO) is set to open higher, China and Australia trade tensions to ease, Xero reports and more.

Here’s what financial planners need to know Friday morning. The ASX 200 followed Wall Street’s lead down on Thursday, falling 1.7% and finishing at just 5.319 points.

Here’s what Australian financial planners and advisers need to know on Thursday morning…

The ASX 200 is likely to start trading lower on Wednesday, according to futures contracts in Sydney.