Market moving US debate due in a few hours: ASX poised to open lower

Market moving US debate due in a few hours: ASX poised to open lower


The Australian share market looks set to fall this morning as the S&P 500, the Dow and the Nasdaq all closed lower ahead of the Donald Trump and Joe Biden debate. The 90-minute debate is scheduled to begin at 11am Australian Eastern Standard Time and we’ll bring you the latest on this as soon as we get it. Democrat Joe Biden is currently leading President Donald Trump in the polls. The debate could move the polls, and also the market.

Local Economic News

Private sector credit August


Wall Street closed lower yesterday: The Dow Jones Industrial Average closed 0.5 per cent lower at 27,453, the S&P 500 lost 0.5 per cent to 3335 and the NASDAQ fell 0.3 per cent to 11,085.

European markets closed lower: London’s FTSE lost 0.5 per cent, Paris fell 0.2 per cent and Frankfurt was down 0.4 per cent.

Asian markets closed mixed: Tokyo’s Nikkei added 0.1 per cent, Hong Kong’s Hang Seng lost 0.9 per cent and China’s Shanghai Composite was up 0.2 per cent.

Taking all of this into equation, the SPI futures are pointing to 0.9 per cent fall.

Yesterday, the Australian share market closed flat at 5952.

Company news

New Zealand King Salmon (ASX:NZK) delivered a strong performance for the 12-month period ending 30 June, recording a profit after tax of $18 million, up 59 per cent on FY19. The company recorded revenue of $155.3 million, down 10 per cent on FY19. Sales volumes were affected by Covid-19, dropping by 50 per cent during lockdown. They recorded volumes of 6,331 tonnes, down 16 per cent on FY19. Due to uncertainty caused by the impact of Covid-19, the Board has decided not to pay a final dividend in respect of the FY20 year. Shares in New Zealand King Salmon Investments (ASX:NZK) closed flat at $1.59 yesterday.


Ambertech Limited (ASX:AMO) is paying 0.3 cents fully franked
Cedar Woods Properties Limited (ASX:CWP) is paying 6.5 cents fully franked
Eildon Capital Ltd (ASX:EDC) is paying 1.925 cents unfranked
Global Value Fund Ltd (ASX:GVF) is paying 2.9 cents fully franked
MCP Income Opportunities Trust (ASX:MOT) is paying 0.92 cents unfranked
MCP Master Income Trust (ASX:MXT) is paying 0.72 cents unfranked
Partners Group Global Income Fund (ASX:PGG) is paying 0.7083 cents unfranked
Perpetual Equity Investment Company Ltd (ASX:PIC) is paying 2.8 cents fully franked


One Australian Dollar at 7:45 AM was buying 71.30 US cents, 55.47 Pence Sterling, 75.33 Yen and 60.75 Euro cents.


Iron Ore has gained 1.3 per cent to US$117.61
Iron Ore futures are up 2.6 per cent.
Gold has gained $20.70 to US$1903 an ounce.
Silver has added $0.74 to US$24.35 an ounce.
Oil has lost $1.49 to US$39.11 a barrel.
Copyright 2020 – Finance News Network

Source: Finance News Network

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