ASX 200 set to rise; Eagers Automotive, HUB24 to pay dividends today

Highlights

  • The Australian shares are expected to end the week on an upbeat note after Wall Street ended higher overnight.
  • The ASX 200 may open the day 45 points or 0.6% higher after climbing 0.5% to 7,311.7 points in the previous session.
  • On Wall Street, the Dow Jones was up 1.4%, the S&P 500 ended 1.6% higher, and the NASDAQ finished up 1.65%.

The Australian shares are expected to end the week on an upbeat note, likely helped by gains in domestic miners and energy stocks on the back of soaring commodity and oil prices. The domestic shares are also expected to track Wall Street, which ended higher overnight.

The ASX 200 may open the day 45 points or 0.6% higher after climbing 0.5% to 7,311.7 points in the previous session.

                   

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The Harvey Norman Holdings Ltd would trade ex-dividend for its fully franked 15 cents per share final dividend on Friday. Eagers Automotive Ltd and HUB24 Ltd are scheduled to pay their latest dividends later on Friday.

On Wall Street, the Dow Jones was up 1.4%, the S&P 500 ended 1.6% higher, and the NASDAQ finished up 1.65%.

Image Source: @Kalkine Media

Bonds and dollar

US Treasury yields fell on Thursday after data on the labor market and inflation eased worries that the Federal Reserve may need to act earlier than expected to combat rising prices.

  • Benchmark 10-year Treasury yield retreated to 1.5107%, from Wednesday's 1.549%.
  • The two-year Treasury yield also fell to 0.3501%, from 0.368% the previous day.

The dollar eased for a second day after rising to over one-year high this week amid growing bets on a US interest rate rise in 2022.

The dollar index edged down 0.05%, with the euro steady at US$1.1595.

Foreign exchange and commodity markets sent some mixed signals.

Oil prices rise

Oil prices were boosted by a stronger draw on US fuel inventories boosted prices. Brent crude climbed 0.57% to US$83.65, and US crude rose 0.62% to US$80.96 per barrel.

On the other hand, natural gas climbed 2%, having already soared more than 150% this year, driving the spike in global energy prices.

Gold prices inch higher

Gold prices rose driven by easing bond yields.

  • Spot gold rose 0.3% to US$1,797.49 an ounce.
  • US gold futures climbed 0.26% to US$1,798.40 an ounce.

Meanwhile, Bitcoin fell 0.34% to US$57,180.34, pulling back from a five-month high.

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