Nike Shares Help Push Dow Higher

Stock Markets


US stocks rallied overnight following several days of decline earlier in the week. The Dow Jones climbed 0.61%, helped by a 4.1% gain in the Nike share price following the release of a strong earnings report. Apple (AAPL) also had a good session, climbing 1.5% as the stock rallies back towards its all-time highs of $227 reached one year ago. In terms of sector performance, the Information Technology sector was the strongest, gaining 1.19% while Health Care was the weakest, losing 0.49%.


The ASX 200 declined 0.57% yesterday but looks set to open higher this morning after the positive close on Wall Street overnight. In particular, the information technology sector could bounce following the strong performance of this sector in the US. The Commonwealth Bank (CBA) and Telstra (TLS) are due to pay their dividends today.

Commodities and Currencies:Gold prices tumbled overnight as the market returned to being optimistic about the US/China trade talks. Gold lost 1.8%, currently trading at US$1,504 per ounce. WTI oil prices continue to decline from the post Abqaiq attack highs as Saudi Arabia continues to assure markets that a return to full production is still on schedule for the end of the month.

The spot price of gold is currently down 1.8% at US$1,505 per ounce.

The AUD is currently down 0.7% at US$0.675.

This article was written by William O'Loughlin – Portfolio Manager, Rivkin Securities Pty Ltd. Enquiries can be made via [email protected] or by phoning +612 8302 3633.