Overnight action in the US pushed Australian market up. Wells Fargo had better than expected results and raised dividends, boosting confidence in financial industry. US Dollar is also up and oil is, naturally, down.
This was a reason enough for the market to bounce a bit more than 1% on the upwards. The two main reasons - the high oil price and the gloomy future of the financials - have softened, allowing the markets to move up again.
Objectively, this could be the perfect time to invest. The future gains are highest at this point. It will be interesting to see how it goes the next couple of days.
ASX has been steady for the first couple of hours during the market hours. Amazing that Australian market is so inert, reflecting what's going in the US.
This was a reason enough for the market to bounce a bit more than 1% on the upwards. The two main reasons - the high oil price and the gloomy future of the financials - have softened, allowing the markets to move up again.
Objectively, this could be the perfect time to invest. The future gains are highest at this point. It will be interesting to see how it goes the next couple of days.
ASX has been steady for the first couple of hours during the market hours. Amazing that Australian market is so inert, reflecting what's going in the US.
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