ASX opens higher amid broad gains, WiseTech leads early losses
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More news: Australian shares started higher this morning with nine of the 11 sectoral indices climbing into positive territory.
The benchmark S&P/ASX 200 index was up 45.4 points, or 0.51%, to 8,871.9 at 10:30am AEST.
Consumer discretionary stocks led early gains, adding 1.1%, with Bunnings and Kmart owner Wesfarmers lifting 1%. Financials were the next best performers, up 0.9%, with the big four banks each up between 0.9% and 1.2%.
Regenerative medicine company Mesoblast (+4%) was the best performer on the ASX 200 after entering convertible note subscription agreements with SurgCenter and other shareholders on Thursday.
Mining and energy stocks were the two sectors in the red, each down around 0.3%, as iron ore giant BHP dropped 1.3% and the oil majors retreated.
Software giant WiseTech Global (-2.3%) was the worst performer on the ASX 200.
Australian shares to open higher after US stocks rally before key jobs report
The news: Australian shares are set open higher after the S&P 500 sealed a fresh record high overnight, as investors wait for the key US monthly jobs report later today.
The numbers: Updated at 7:30am AEST:
- ASX futures: up 53 points, or 0.60%, to 8,869
- Wall Street: Dow Jones up 0.77%, S&P 500 up 0.83% and Nasdaq up 0.98%
- Europe: CAC 40 down 0.27%, DAX up 0.74% and FTSE 100 up 0.42%
- Spot gold: up 0.38% to USD3,546 per ounce
- Oil prices: Brent down 0.24% USD66.83/bbl and US WTI down 1.00% to USD63.33/bbl
- AUD: down 0.51% to 65.10 US cents
- Bitcoin: up 1.13% to USD110,480.
The context: US stocks were boosted by new economic data that pointed to a cooling labour market, reinforcing bets for a Federal Reserve interest rate cut this month.
Ahead of the key jobs reading, due at 10:30pm AEST, the new data showed US jobless claims rose to the highest since June, while private-sector payrolls increased by 54,000.
