SCOREBOARD: Bucking Asia's dive

Despite the sharp falls across Asia's bourses, Wall Street rose on the back of strong tier-one US data.

After what happened on the Japanese market yesterday (down 6.4 per cent) - in fact the Asian region more broadly - I’m pleasantly surprised by Wall Street action last night. Gains were solid with the S&P500 closing 1.5 per cent higher (1636), the Dow was up 180 points (15,176) and the Nasdaq rose 1.3 per cent (3445). Now we know that recent lower tier data has been showing an upbeat picture of the US economy etc, but markets have ignored that following the excitement of the strong US payroll figures. I guess it’s a bit hard to ignore first-tier indicators though, like US retail sales last night. These showed a stronger-than-expected gain of 0.6 per cent in May (0.4 per cent expected) with sales less auto and gas up 0.3 per cent, following a 0.5 per cent rise in April. Good stuff which suggests US spending remained robust in the second quarter.  Adding to that, jobless claims fell again in the week to June 8, only 12,000 to 334,000, but that’s low. Don’t forget jobs growth has been quite strong in the US, and these jobless claims figures point to further robust gains. It’s all good.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}

A text message with your verification code was just sent to {{user.DayPhone}}

We cannot send you a code via SMS to {{user.DayPhone}}

Hi {{ user.FirstName }}, please provide your mobile number.

{{ content.trialHeading.replace('{0}', user.FirstName) }}

We'll send you a text message with a verification code to start your free trial.

Log in

{{ content.upgradeHeading.replace('{0}', user.FirstName) }}

The email address you entered is registered with InvestSMART.

Login or to reset your password, select Forgotten password

Email is required.
Email must be a valid email.
Password is required.
First name is required.
Last name is required.
Mobile phone number is required.
Mobile phone number is invalid.
You must accept the terms and conditions.

Already an InvestSMART member? Log in

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

OR

Looks you are already a member. Please enter your password to proceed

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Your membership to InvestSMART Group recently failed to renew.


Please make sure your payment details are up to date to continue your membership.


Having trouble renewing?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

You've recently updated your payment details.

It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.


If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.


Still having trouble viewing content?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

{{ upgradeCTAText }}

Updating information

Please wait ...

Trial

{{ productPrice }} / day
( GST included )
Price $0
Discount -{{productDiscount}}
GST {{productGST}}
TOTAL   (inc. GST) {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Related Articles