ASX ends session up sharply, after Wall Street rally
Last updated: 4:15pm AEDT
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The ASX closed up, locking in strong gains for the day, on the back of a late session rally on Wall Street.
The S&P/ASX200 closed up sharply Friday, gaining 116.20 points or 1.75% to 6,758.80.
The broader All Ordinaries also closed up sharply, gaining 114.10 points or 1.67% to 6,948.60.
Across the market, all 11 sectors ended higher. Energy was the best performing sector, gaining 3.80% and rebounding from its recent decline.
Pilbara Minerals (AU:PLS) shares fell more than 6% for the day, after speculation about dwindling lithium demand and prices.
Meanwhile, Australia’s Domino’s Pizza Enterprises (ASX:DMP) shares finished the day more than 7% higher, on the back of a strong sales report from American brand owner, Domino’s Pizza (NYSE:DPZ).
Market gains continue into afternoon
Last updated: 1:25pm AEDT
Australian shares continued trading strongly in the afternoon, as strong finish on Wall Street overnight continues to bolster the local market.
The S&P/ASX200 was up sharply, gaining 117.40 points or 1.77% to 6,760.00.
The broader All Ordinaries was also up sharply, gaining 115.60 points or 1.69% to 6,950.10.
All 11 sectors were higher for the session. Energy was the best performing sector, gaining 3.67% and rebounding from its recent decline.
Australia’s Domino’s Pizza Enterprises (ASX:DMP) shares rose about 10% in the morning, on the back of a strong sales report from American brand owner, Domino’s Pizza (NYSE:DPZ).
ASX jumps, on back of late Wall Street gains
Last updated: 11:10am AEDT
Australian shares jumped up this morning, taking cues from Wall Street, which traded through a choppy session to finish up, with a strong finish to the day.
The S&P/ASX200 was up sharply, gaining 113.70 points or 1.71% to 6,756.30.
The broader All Ordinaries index was also up sharply, gaining 112.80 points or 1.65% to 6,947.30.
Across the market, all 11 sectors were higher. Energy was the best performing sector, gaining 3.34% for the day so far, and rebounding from its recent decline. The sector is off 1.89% for the past five days.
Qantas Airways (ASX:QAN) shares continued to climb today, after surging yesterday when the Australian airline issued a better than expected half-year profit outlook.
It’s one of many stocks hit hard by the COVID-19 downturn, which are now regaining their footing after the global reopening from pandemic shutdowns.
Analysts identify both Aristocrat Leisure (ASX:ALL) and Tabcorp (ASX:TAH) as other promising ‘reopening stocks’.
Pre-market breakdown
The ASX is set to open higher, after Wall Street was buffeted by fourty year high U.S. inflation rates, suggesting steeper Federal Reserve interest hikes to come.
ASX futures were up 1.57% to AU$6,739 approaching 7:00am AEDT.
It follows a choppy day on the ASX yesterday, which dipped down before market close, after managing to stay in positive territory for most of the session.
Ahead of Friday’s local market opening, the Australian dollar was up 0.4%, sitting at US$63.03c.
WTI Crude was up around 1.9%, at around US$88.9 a barrel.
Gold was down by 0.4%, at around US$1664 an ounce.
Meanwhile, Bitcoin was up by around 0.7%, to about AU$30,741.
Market watch: ‘reopening stocks’
Qantas Airways (ASX:QAN) was a top performer yesterday, with shares surging after the Australian airline issued a better than expected half-year profit outlook.
Its one of many stocks hit hard by the COVID-19 downturn, which are now regaining their footing after the global reopening from pandemic shutdowns.
Analysts identify both Aristocrat Leisure (ASX:ALL) and Tabcorp (ASX:TAH) as promising ‘reopening stocks’.
