The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went down by 0.45% on Monday.
Australian Dollar ($A) (AUDUSD): 69.89US cents
Dow Jones (DJI): down 0.25%
Oil (WTI): $US62.18 per barrel
Gold: $US1,281 per ounce
ASX Sharemarket News
In ASX sharemarket news, many of the China-related ASX businesses will be on watch today after talks between the United States and China seem to be breaking down after President Trump threatened to hike tariffs to 25%.
Yesterday the share price of Treasury Wine Estates Ltd (ASX: TWE) fell by 4.75%, so I wouldn’t be surprised to see it and others make a big move today as well.
As Warren Buffett said to CNBC, a trade war would be bad for the whole world.
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The market is likely to further react to the Westpac Banking Corp (ASX: WBC) result, some investors would have wanted to have the whole day to react to the report.
As a reminder, the big ASX bank reported that both the statutory and cash profit fell by more than 20% because of the customer remediation. Even after excluding the remediation and restructuring costs, cash profit still fell by 5%.
However, the Westpac Board maintained the dividend at 94 cents per share, so it wasn’t all bad news.
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The share price of Graincorp Ltd (ASX: GNC) could come under pressure this morning because LTAP is abandoning its $3.3 billion bid for the grain company.
However, Graincorp remains committed to its plan to boost shareholder returns with the proposed demerger of its malt business, and the combination of its grains and oils businesses, as well as other initiatives.
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At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.