On Wednesday, the S & P / ASX 200 index followed the leadership of the US markets and posted a 1.1% rise to 6,648.1 points.
Will the market be able to build on this Thursday? Here are five things to look at:
He expected ASX to level up.
The Australian stock market looks set to continue its positive run on Thursday. According to the latest SPI futures, the ASX 200 index is ready to open the day 5 points or 0.1% more this morning. This follows a night of positive trading on Wall Street which saw the Dow Jones rise 0.15% more, the S&P 500 up 0.3% and the Nasdaq go up 0.4%.
The US Federal Reserve maintains stable rates.
Overnight in the United States Federal Reserve kept rates constant. The FOMC voted 9-1 to maintain the reference rate in a target range of 2.25% to 2.5%, but opened the door to a rate cut in the near future. The central bank has admitted that "the uncertainties on this prospect have increased".
Higher oil prices.
It could be a good day for Beach Energy Ltd (ASX: BPT), Limited oil search (ASX: SSL) and the rest of the Australian energy sector after oil prices continued to rise. Second Bloomberg, the price of WTI crude oil rose 0.5% to $ 54.18 a barrel and the price of Brent crude oil rose 0.1% to $ 62.26 a barrel.
Highest gold price
Gold miners included Newcrest Mining Limited (ASX: NCM) e Resolute Mining Limited (ASX: RSG) could charge higher this morning after the gold spot price rose higher after the FOMC meeting. According to CNBC, the gold spot price rose 1% to $ 1,364.10 per ounce.
Rio Tinto Guide.
The Rio Tinto Limited (ASX: RIO) The share price could be put under pressure on Thursday after the mining giant reduced its iron ore shipment from Pilbara by about 4%. The management now plans to ship between 320 million tons and 330 million tons of iron ore from the region, from 333 million tons to 343 million tons. Rio Tinto shares listed in the UK fell by 4.5% overnight.
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Motley Fool collaborator James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all have the same opinions, but we are all convinced that, considering a wide range of insights, we have become better investors. The Motley Fool has a disclosure policy. This article contains only general investment recommendations (with AFSL 400691). Authorized by Scott Phillips.
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