Will the market be able to recover from this on Friday? There are five things to keep in mind:
ASX 200 is expected to recover.
It should be a better day for the Australian stock market after Wall Street rallied overnight. According to the latest SPI futures, the ASX 200 is ready to open the day up 36 points, or 0.6%, this morning. In late trade in the US, the Dow Jones was up 0.95%, the S&P 500 was up 1.7%, and the Nasdaq was up 2.2%. The latter could be good news for local tech stocks Afterpay Limited (ASX: APT).
ResMed Q1 Update.
The ResMed Inc. (ASX: RMD) The stock price could be moving today when it releases its first quarter update. Earlier this week, Macquarie analysts warned that the company’s equipment sales could be lower this quarter due to lower-than-expected fan volumes. ResMed expects first quarter revenue of $ 714 million.
Oil prices continue to weaken
The stock market may rebound, but the same cannot be said of oil prices, which have continued to weaken. This could be bad news for people like Beach Energy Ltd. (ASX: BPT) and Oil Search Limited (ASX: OSH) on Friday. According to Bloomberg, WTI crude oil prices fell 2.9% to $ 36.30 a barrel and Brent crude oil prices fell 3.5% to $ 37.75 a barrel. Oil prices are on track for their worst week since April.
Janus Henderson Update.
The Janus Henderson Group CDI (ASX: JHG) The share price will be available on Friday. US-listed stocks fell overnight after the third quarter update was released. The manager reported a 6% increase in assets under management to $ 358.3 billion. While this was positive, it was all due to favorable market movements. Janus Henderson posted a net outflow of $ 2.9 billion for the quarter.
Gold price lower.
Gold digger Evolution Mining Ltd. (ASX: EVN) and Northern Star Resources Ltd. (ASX: NST) could have a subdued end of the week after gold prices fell again. According to CNBC, the spot gold price fell 0.5% to $ 1,869.40 an ounce. This was due to a stronger US dollar.
Forget what just happened. We believe this stock could be Australia’s next MONSTER IPO …
A little-known Australian IPO has doubled since January, and renowned Australian moonshot stock picker Anirban Mahanti sees a potential millionaire waiting …
With ‘Doc’ Mahanti believing this fast growing company has all the hallmarks of real moonshot potential, forget ‘buy now, pay later’, this stock could be the next hot stock on the ASX.
See how you can find out the name of this stock
Returns from October 6, 2020
James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia’s parent company, Motley Fool Holdings Inc., owns shares in Altium and recommends Altium. Motley Fool Australia’s parent company, Motley Fool Holdings Inc., owns shares in CSL Ltd., PUSHPAY FPO NZX and Xero. The Motley Fool Australia owns shares in and has A2 Milk and Bravura Solutions Ltd. recommended. The Motley Fool Australia owns shares in AFTERPAY T FPO and Appen Ltd. The Motley Fool Australia recommended PUSHPAY FPO NZX and ResMed Inc. We fools may not all be the same, but we all believe that taking a variety of insights into account makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorized by Scott Phillips.
These were the details of the news 5 things to see at ASX 200 on Friday October 30th... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at de24.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.