The S&P 500 has eked out a marginal gain to a new record, giving the ASX a positive lead for today. Follow the day’s events and insights from our business reporters on the ABC News live markets blog.
Despite there being no resolution in sight in for the US government shutdown, Wall Street ‘s S&P 500 index has still managed a marginal rise to reach yet another record close. On the local market, the 0.
3 per cent gain implied by futures trading might be enough to deliver the ASX 200 the 32 points needed to hit a new record close today. Follow the day’s financial news and insights from our specialist business reporters on our live blog.Wall Street: S&P500 flat, Dow +0.5%, Nasdaq -0.4%, but it was still enough to chalk up another record close.The blue-chip Dow picked up 0.5%, but the Nasdaq gave up 0.4%ASX 200 futures closed on Friday up 0.3%. A gain of around that that size could deliver the 32 points needed to eclipse the record close of 9091 points hit in August. Friday’s trade rumbled on in the dark about the latest happenings in the labour market given the Bureau of Labor Statistics, like every other virtually every US government agency remained shut down.It seems the Senate is no closer to solving the budgetary impasse, but elected members continue to get paid handsomely despite orchestrating the closure of everyone else’s jobs. The only fresh data came from the private sector where the Institute for Supply Management’s survey showed the services employment index contracted for the fourth consecutive month.”It certainly feels like momentum is on the side of investors over the last few days,” head of investment strategy at Edward Jones, Mona Mahajan, told Reuters.However, that was outpaced by the Eurozone , China and Australia .Gold notched its seventh consecutive positive week and will stroll through $US4,000/ounce in the near term if analysts at investment bank HSBC are correct.Good morning and welcome to another day on the ABC markets and finance blog. Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day’s events, where every post is hopefully a winner, but none should be construed as financial advice. In short, it looks like the ASX will push higher, with futures trading pointing to a 0.3% gain on opening.
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