Wall Street closed mixed on Monday ahead of the Federal Reserve's monetary policy meeting. The Federal Reserve is widely expected to leave the near-zero interest rate unchanged, but may begin scaling back some economic stimulus. Traders moved into technology and health care shares amid concerns the energy, materials and financials were overbought.
Overnight Wall Street posed a solid gain as an upbeat sentiment that the worst is over increased investors' appetite for riskier assets. The shares were lifted by a round of buying in financial shares and a jump in US industrial production data.
Philippines' food and beverage giant San Miguel Corp. (PSE:SMC) said its second-quarter net profit rose sixfold from a year earlier, largely due to the asset sale to Japanese brewer Kirin Holdings (TYO:2503).
US stocks fell for a second day on Thursday as investors worried over the key employment figures, which are scheduled to release on Friday. Most economists expect the data will show the unemployment rate climbed to 9.6 per cent, from a 26-year high of 9.5 per cent in June.
Australian shares yesterday gained on the rise of Wall Street. The benchmark S&P/ASX200 gained 71.1 points, or 1.8 per cent, at 3995.6, while the broader All Ordinaries had gained 70.3 points, or 1.8 per cent, to 3987.8.
The Australian shares fell in late trading on Monday, pulled by energy sector. The benchmark S&P/ASX200 lost 16.9 points, or 0.43 per cent, to 3886.9, and the broader All Ordinaries was down 16.8 points or 0.43 per cent to 3882.7. Analysts expect the local market remained directionless ahead of the financial year end.
The Australian share market yesterday ended stronger despite the negative lead from Wall Street. The benchmark S&P/ASX200 was up 81.7 points, or 2.2 per cent, at 3817.3, while the broader All Ordinaries gained 79.0 points, or 2.1 per cent, to 3800.6. Today the local market could be buoyed by the rising commodities prices.
The Australian shares ended marginally higher last Friday. The benchmark S&P/ASX200 index was up 3 points, or 0.1%, to 3941.7, while the broader All Ordinaries Index rose 7.5 points, or 0.2%, to 3919.6.
The Australian shares were marginally lower on Friday. On Friday the benchmark S&P/ASX200 ended 10.9 points, or 0.3%, lower at 3769.6, while the broader All Ordinaries fell 6.8 points, or 0.2%, to 3737.9.
The Australian share ended slightly lower on Wednesday despite strong lead on Wall Street. The market is still seeking direction amid global volatility. The benchmark S&P/ASX 200 index was down 9.2 points, or 0.25 per cent, to 3668.2, while the All Ordinaries fell 5.9 points to 3627.2.