The market in the week ahead

 

The Australian market is in for a positive start with the ASX Futures up 0.4 per cent following a solid performance last week.

There was some nervousness in Chinese, Japanese and Asian markets on the back of trade tensions but the US, European and Australian shares all rose last week.

On Wall Street, investors shrugged off trade war fears as the US stepped up its tariffs on China on Friday with the S&P 500 index gaining 0.85 per cent to finish at 2759.82. The Dow Jones Industrial Average gained 99.74 points, or 0.4 per cent, to 24,456.48. The Nasdaq composite added 101.96 points, or 1.3 per cent, to 7688.39.

It was the same story in Europe with the pan-European Stoxx 600 closing 0.2 percent higher, the FTSE in London up 0.19 per cent to 7617.70, the German DAX rising 0.26 per cent to 12496.17 and the French CAC up 0.18 per cent to 5375.77

In Australia, the S&P/ASX 200 index closed the week 77.7 points, or 1.3 per cent higher at 6272.3. It was a 10 year high.

Investors this week will be watching out for the June NAB survey on business conditions and confidence on Tuesday.

This will be followed by the Westpac/MI consumer survey for July on Wednesday.

On Wednesday, the Australian Bureau of Statistics will be releasing its housing finance data.

 

9th July 2018

 



An award winning author and journalist, commentator, lecturer, and speaker, Leon is a freelance business journalist who covers a range of areas including politics, strategy, globalization, leadership and all the big trends ahead. His main skill is summing up all the news that’s around. For the last 30 years, his main focus has been on management issues. He also produces two podcasts for RMIT University, Talking Business and Talking Technology. Leon has worked for Fairfax, News Limited, AAP and the Herald and Weekly Times.


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