The Australian shares today opened firmer after Wall Street Friday extended gains on US companies' strong earnings. The S&P/ASX200 index rose 0.95 per cent to touch 4500 points level shortly after the opening bell. Gains were led by health sector and consumer staples sector.
The Australian share market was lower in early trade as Wall Street plunged overnight on Federal Reserve chairman Ben Bernanke's comment that the economy was fragile. The US central bank is not prepared to consider further stimulus in the near term despite an "unusually uncertain" outlook.
The Australian shares opened firmer this morning after Wall Street rose on speculation that the Federal Reserve would provide more stimulus to the US economy. Mining sector delivered a strong gain in early trade, as BHP Billiton posted a report of record annual production.
The Australian market opened slightly higher on Tuesday. Wall Street posted modest gains overnight as investors focused on the company earnings reports and shrugged off the weak housing data.
The Australian market dropped sharply at opening on Monday following a plunge in Wall Street Friday. The Dow Jones Industrial Average tumbled 2.52 per cent Friday after disappointing earnings reports from Bank of America, Citigroup and General Electric. Sharp falls in consumer confidence data also fueled concerns on US economy recovery.
Australian shares opened flat this morning. Wall Street overnight closed in the red despite the US market pared most of its early losses after news of halted flow of oil into the Gulf of Mexico. The losses were caused by disappointing economic data including inflation figures, manufacturing in New York and industrial production across the country.
Australian shares dropped Thursday after the mix leads from Wall Street. Sentiment was dented after the Federal Reserve slightly lowered its economic forecast, while the positive earnings reports and upbeat company outlooks helped to support the US market. Today in early trade, S&P/ASX200 index lost 0.75 per cent while the All Ordinaries fell 0.65 per cent.
