The Sectoral Pulse || Do Wall Street extended its bull run with Nasdaq and S&P 500 futures?

Well, The Australian sharemarket started trade on Monday in green led by a strong result from Westpac. After finishing last week on a weak note, ASX 200 on Monday opened lower, tracking sluggish global cues. The Australian benchmark equity index ASX 200 today dipped 2.80 points to 7,023 at opening. However, the broader index soon rebounded and gained 0.53% in the first hour of the trading session. The US indices closed lower on Friday after major tech firms such as Apple and Alphabet declines despite robust earnings.  

MSCI's broadest index of Asia-Pacific shares outside Japan was flat after taking a bit of a spill on Friday. Japan's Nikkei is shut for a holiday while Nikkei futures edged up. Wall Street extended its bull run with Nasdaq futures and S&P 500 futures both trading up. It is a busy week for U.S. economic data particularly for the ISM manufacturing survey and April payrolls. Australia has all but stamped out community infections after closing its borders to non-citizens in March 2020, recording just 29,800 cases and 910 deaths. The country, which has no other community transmissions of the coronavirus, this weekend banned citizens who had been in India within 14 days from returning home, as the world's second-most populous nation contends with a surge in COVID-19 cases and deaths. 


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