Money Microsoft and technology stocks boost Wall Street, Australian dollar hits US76.5c
Australia, New Zealand dollars ease as U.S. scraps summit with North Korea
<p>The Australian and New Zealand dollars stepped back on Friday as risk appetite soured after U.S. President Donald Trump scrapped a key summit with North Korea, although Pyongyang's measured response to the cancellation helped calm nerves.</p>The Australian and New Zealand dollars stepped back on Friday as risk appetite soured after U.S. President Donald Trump scrapped a key summit with North Korea, although Pyongyang's measured response to the cancellation helped calm nerves.
Despite a strong lead from US and European markets overnight, Australian shares are expected to start the day weaker.
Markets at 7:20am (AEST):
- ASX SPI 200 futures -0.4pc to 6,003, ASX 200 (Monday close) +0.6pc at 6,026
- AUD: 75.49 US cents, 57.44 British pence, 65.38 Euro cents, 83.96 Japanese yen, $NZ1.09
- US: Dow Jones +0.7pc at 24,814, S&P 500 +0.5pc at 2,747, Nasdaq +0.7pc at 7,606
- Europe: FTSE +0.5pc at 7,741, DAX +0.4pc at 12,771, Euro Stoxx 50 +0.5pc at 3,470
- Commodities: Brent crude -1.7pc at $US75.48/barrel, spot gold -0.1pc at $US1,291.58/ounce
Netflix's IPO was 16 years ago Wednesday -- here's how much you'd have made if you invested $1,000 back in the day
Wednesday was the 16th anniversary of Netflix's initial public offering. A $US1,000 investment made at the stock's first-day closing price would be worth nearly $US300,000 today.Wednesday was the 16th anniversary of Netflix's initial public offering, and an investor buying in then would have made a very impressive return over the years.
The local stock market normally takes its cue from foreign bourses, but ASX futures have fallen 21 points (at 7:00am AEST).
On the other hand, the Australian dollar has surged to a six-week high of 76.5 US cents, gaining 1.1
It also jumped to 57.4 British pence (+1.4pc), 65.4 euro cents (+0.8pc) and 84 Japanese yen (+1.4pc).
This was after the Bureau of Statistics (ABS) released some stronger than expected figures for retail sales and company operating profits, which may provide a small boost to Australia's GDP figures (which are out on Wednesday).
In the meantime, the Reserve Bank will decide on interest rates today, and it is almost certain it will keep rates on hold at the record low 1.5
The Australian dollar is pushing higher to start the week
The Australian dollar has opened the new trading week fractionally higher. A peace summit between Donald Trump and Kim Jong UN next month now looks to be back on while Italy's President has blocked the appointment of eurosceptic Paolo Savona as Italy's new economy minister.Here's the scoreboard at 8.05am in Sydney.
Also out today is the current account figures for the March quarter from the Australian Bureau of Statistics — which measures the difference in value between Australia's imports and exports.
The market is expecting net exports to contribute 0.5
Wall Street surges on tech rally The Nasdaq jumped 0.7
The Dow Jones index also climbed 0.7
Apple shares rose to their highest-ever price (+0.8pc to $US191.83) after the company unveiled its latest operating system, iOS 12, at its annual
Microsoft* was another standout after its share price jumped 0.9
This was after the tech giant announced it would take-over GitHub, a privately-held coding website, for $US7.5 billion in an all-stock deal.
RBA's Ian Harper says if rates need to rise, 'who cares what’s happening to house prices'
Ian Harper, RBA Board member, says Australian house prices won't dictate when the bank begins to lift interest rates. In the near-term, Harper says steady policy settings are the "best thing the bank can do for encouraging confidence and stability".When it comes to the outlook for official interest rate settings from the Reserve Bank of Australia (RBA), the housing market, or specifically prices, aren't a consideration.
The deal is a big bet on Azure — Microsoft's fast-growing cloud business — as it will be able to lure more code developers who use GitHub and drive more business to Microsoft.
By pulling off its largest acquisition since the $US26 billion acquisition of LinkedIn in 2016, Microsoft gets a platform universally known by developers.
GitHub calls itself the world’s largest code host with more than 28 million developers using its platform.
The S&P technology (+0.8pc) and consumer sectors (+1.1pc) gave Wall Street
In the consumer space, Amazon was the strongest performer, after its shares lifted 1.5
*Microsoft publishes MSN
Afterpay Touch, Appen, Ingham's join ASX 200, Retail Food Group dropped .
Afterpay Touch has joined Australia's benchmark ASX 200 Index, with Retail Food Group among the stocks that have dropped out.Asaleo Care, Iron Mountain and Retail Food Group will be dropped from the benchmark index, S&P confirmed on Friday.
Microsoft and tech stocks boost Wall St, Australian dollar hits US76.5c
Microsoft and tech stocks boost Wall St, Australian dollar hits US76.5c: ...
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