Markets

US sharemarkets see-sawed during the Thursday session. Energy shares rallied 9.1% on a record lift in the oil price. Although investors fretted about the health of the US economy with claims for unemployment insurance soaring.

The financials sector was the major drag as the banks fell sharply. This follows concerns that our central bank, the RBA, may look to follow the Bank of England and Reserve Bank of New Zealand in freezing bank dividend payments temporarily,

Aussie shares are back in the red on Thursday, with the ASX 200 index down 132pts or 2.6% to 5,120.2. This follows a 4.4% decline for US equities overnight, as the focus returns to the quick spread of the coronavirus in the US. President Trump warned that the US could face as many as 240,000 deaths from COVID-19 (~4,500 at the moment) and said the country will face a ‘very painful few weeks’.

US sharemarkets fell on Wednesday. Investors are worried about the outlook for the economy. Financials fell 6.0%. Energy stocks fell by 4.6% and airlines and cruise operators continued to fall sharply.

The ASX 200 has rebounded from yesterday’s loss, rallying 181 points or 3.6% to 5258.6, overcoming an afternoon fade to close near the best levels of the day.

All sectors are currently improving on Wednesday. Energy stocks are standing out, lifting by 8.2% after falling more heavily than any other sector in March. A ~60% slump for the oil price from the February highs was to blame.

US sharemarkets fell on Tuesday as fund managers made portfolio adjustments on the last day of the month and quarter. The Dow Jones index fell by 410 points or 1.8% after trading in a 628 point range. The S&P500 index fell by 1.6% and the Nasdaq lost 74 points or 1.0%. Over the quarter the Dow Jones fell by 23.2% – the largest fall since December quarter 1987 and biggest March quarter decline on record.

The ASX 200 closed the day down 104 points or 2% to 5076, a turnaround of 290 points from its highs where it was up 3.5% at its best levels in early trade.

Aussie shares continue to lift strongly following a strong lead from Wall Street, yesterday’s announcement of a massive $130bn government support package and better than expected data on China’s economy at lunch.

Local shares are set to add to Mondays gains at the start of trade following 3% gains for US stock Indices overnight. US sharemarkets rose for the fourth time in five days.

The ASX 200 surged higher to post a 7% gain on Monday, in the process, delivering a record daily improvement led by strong gains for the big four banks.

Gains from the banks and health stocks are offsetting losses from property stocks and miners.

The Dow Jones index fell by 915 points or 4.1%, losing 700 points in the last 30 minutes of trade. The S&P500 index lost 3.4% and the Nasdaq fell by 295 points or 3.8%. Over the week the Dow rose by 12.8% – the best weekly gain since 1938.

Investors opted for caution ahead of the weekend, sending the ASX 200 lower.

The Aussie market is under pressure to continue to its recent run of gains. As the market losses accelerate, more sectors are turning red from what was broad-based gains earlier in the morning.