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The ASX200 is set to open a third of a percent higher today, following rises on Wall Street on Wednesday as investors digested commentary from the Federal Reserve.
Record highs were seen on the S&P 500 and Dow Jones – which rose 0.7% and 1% respectively – while the Nasdaq increased by 0.6%. Minutes from the Federal Reserve meeting in September showed that a ‘substantial majority’ of officials supported a significant 50-basis-point rate cut, but were uncertain on future cuts, prompting some traders to increase the odds on an unchanged rate position at the Fed’s upcoming November meeting.
On the ASX, Lunnon Metals Ltd (ASX:LM8) said the Lady Herial prospect within its Kambalda Gold and Nickel Project in Western Australia continued to grow according to recent exploration results, with the company’s gold program to be expanded at the Foster target.
And Mexican food outlet Guzman Y Gomez Ltd (ASX:GYG) said sales growth in Australia had been above expectations for the three-month period from July to September. Sales in that time had risen almost 21% compared to the year before, for an overall figure of $260 million.
To commodities – all in US $ here: Iron ore is $106.30 on the Singapore Exchange, gold’s trading at $2607, oil prices all fell, with Brent crude at $76.44 & natural gas is $2.64 a gigajoule.
One Aussie dollar is buying just over 67 US cents.
