Good morning and a happy end to the week. The ASX200 has jumped 0.80% in line with market futures predictions pre-trade.
The Materials and Real Estate sectors are in the lead right out the gate after a heavy day of selling for Real Estate on Thursday.
Overnight, Wall Street ended green though not as dramatically as the first night after Trump’s Presidential win. The S&P ended up three quarters of a percent; the NASDAQ up +1.5%.
Talking of Trump: Federal Reserve chair Jerome Powell has publicly stated that if Donald Trump tried to fire him, he would not resign. The Fed cut rates overnight.
The ASX200 is also responding well to further stimulus announcements out of China.
Looking at the ASX,
ANZ Bank has reported a yearly decrease in profits in line with NAB’s results on Thursday, falling -8% for ANZ.
Afterpay owner Block, meanwhile, reported a 19% jump in profits for the September quarter.
Turning to forex, the Aussie is buying 67 US cents.
Turning to commodities which are in the greenback,
Brent Crude is fetching just under $75.60 per barrel,
Gold is currently worth $2,705 per ounce.
Iron ore is around $105 per tonne in Singapore, and,
US natgas futures are pulling in $2.70 per gigajoule.
That’s Market Open, I’m Jonathon Davidson, stick with us for HotCopper’s market update.