In Practice

With markets waiting with baited breath for President Trump’s speech on his policy towards China. The ASX 200 (ASX:XJO) fell heavily in the afternoon to finish down 1.6% for the day.

It seems to me that global markets are stuck in a trading pattern, oscillating between euphoria when signs of a vaccine are announced, to despair as new economic results and increasingly protectionist policies are released around the world.

Here’s the Financial Planning news you need to know. Overnight, global share markets recovered on the back of an improving crude oil price, now $32 per barrel, and an uptick in airline bookings, sending both sectors up 4% in the US.

A covid cure on the horizon? US-based drugmaker Moderna revealed positive results from its human trials of a Coronavirus vaccine, treating those yet to suffer from the disease with some positive results.

Here’s what financial planners need to know Friday morning. The ASX 200 followed Wall Street’s lead down on Thursday, falling 1.7% and finishing at just 5.319 points.

Here’s what Australian financial planners and advisers need to know on Thursday morning…

Like most assets, bitcoin cruised into the new year in 2020, racking up a 44% rise until mid-February. Then, like the stock market, BTC took fright at the extent of the global disaster that Covid-19 rapidly proved to become. But while the S&P 500 index plunged by 33.7% before a floor was (at least temporarily)…

The ASX 200 is likely to start trading lower on Wednesday, according to futures contracts in Sydney.

The ASX 200 is likely to open slightly lower on Tuesday according to the Sydney Futures Exchange, following mixed results from global markets overnight.

Global markets failed to overcome a chorus of politicians calling for a loosening of social distancing and shutdown measures.

Westpac has announced a new specialist businesses division and has appointed Jason Yetton as chief executive of the division. The specialist business division has been created to simplify the Australian and New Zealand banking businesses. This will include wealth platforms, superannuation and retirement products, investment, general and life insurance, auto finance and Westpac Pacific. Yetton…

The ASX 200 once again pushing throughout the day, to finish up 1.6% and the S&P 500 similarly strong, finishing 0.9% higher.