The Australian sharemarket closed lower on Tuesday led by financial stocks as investors were nervous ahead of earnings reports by US banks. At the close, the benchmark S&P/ASX200 index lost 49.9 points, or 1 per cent at 4861.2, while the broader All Ordinaries index fell 46.5 points, or 1 per cent, at 4889.6.
Australian market continued its gains on Tuesday as energy stocks had another strong day. The global markets rallied in the first trading day of this year while the upbeat manufacturing data from the United States, China and India boosted investor confidence over a global recovery in 2010. At the close, the benchmark S&P/ASX200 index surged 48 points, or 1 per cent, at 4924.3, while the broader All Ordinaries index increased 49.7 points, or 1 per cent, to 4939.5.
Asian shares mostly opened flat this morning. Wall Street closed higher on Friday after the reports of consumer sector lifted investor confidence. The data also fuelled the expectations the US interest rates could hike soon. British and European shares also gained at after strong Chinese growth data.
Wall Street closed lower overnight after American consumer confidence reading in September dropped unexpectedly. The weakness in US technology stocks, which had been a leader for much of Wall Street's six-month rally, yesterday led a fall in the market. The Conference Board's consumer confidence index dipped in September to 53.1 from 54.5 in August as people worries about job market.
US stocks ended flat overnight in light trade volumes as the market was awaiting the economic data this week. The Dow Jones Industrial Average edged higher to its highest close in more than nine months.
US stocks surged overnight as the Federal Reserve said the economy was leveling out, and it left interest rates unchanged at the end of its two-day policy meeting.
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.
