ASX rises as Wall Street breaks new records | Finance Report
Australian shares saw another strong rise, with the ASX 200 index gaining 0.8 per cent, or 49 points, to finish the day at 6,113.\n\nRead more here: https://ab.co/32Yn9th\n\nFor more from ABC News, click here: https://ab.co/2kxYCZY\nYou can watch more ABC News content on iview: https://ab.co/2OB7Mk1\n\nSubscribe to us on YouTube: http://ab.co/1svxLVE\nGo deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2\nYou can also like us on Facebook: http://facebook.com/abcnews.au\nOr follow us on Instagram: http://instagram.com/abcnews_au\nOr even on Twitter: http://twitter.com/abcnews
Wall Street breaks new records
US stocks opened at new all-time highs on Friday as optimism over US-China trade relations and an improving global economy revived investor sentiment for the new year.
Global Economic Resilience Data Shows China’s Industrial Profits Growth Fastest In Eight Months In November.
This was also supported by positive reports from other Asian countries, including industrial production and retail sales..
«With the trade deal becoming a central factor, the pressure on the global economy should ease, starting with China, to rule out the possibility of a global recession.», – said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Robust U.S. economic data, relatively loose monetary policy, and hopes for an imminent trade truce between Beijing and Washington have all contributed to this month’s Wall Street rally..
S&The P 500, which hit record highs in two out of three sessions in the shortened holiday week, now lags about half a percent behind consolidating its best year since 1997 year.
All three major indices posted record highs at the close on Thursday when the Nasdaq crossed the 9000 mark for the first time.
However, some analysts warn that weak Chinese demand remains a risk to corporate earnings next year..
The Dow Jones Industrial Average (DJIA) rose 53.95 points (0.19%) at the open to 28,675.34. S&P 500 opened up 7.32 points (0.23%) to 3,247.23, while the Nasdaq Composite at the opening of trading gained 27.08 points (0.30%) to 9,049.47.