LIVE MARKETS: ASX will follow Wall Street Higher, gold hits at high after China retaliates against US tariffs

In case you need a review of what happened yesterday, here is Alan Kohler’s Finance Report:

It is very likely that the Australian sharing market opens taller, now that Wall Street has finished its day with strong profits.

Here are the closing figures of the US market:

• Dow Jones: +0.3% to 44,556 points
• SANDP 500: +0.7% to 6,038 points
• Nasdaq compound: +1.4% to 19,654 points

A large part of the profits were driven by actions related to technology such as Apple (+2.1%), NVIDIA (+1.7%), Amazon (+2%), alphabet (2.5%) and Tesla (+2.2%).

But all this pales compared to Palantir, which increased by 24% after the company reported much better quarterly results than expected.

Palantir is an important software and technology service provider for US defense agencies, and its CEO Alex Karp says that much of the company’s growth was due to the use of artificial intelligence (AI).

Their income increased 36% in the quarter of December, while sales sales throughout the year increased by 29%.

Hundreds of Australian companies will report their financial results in the coming weeks, and could be more exciting than usual.

To begin with, this report season began with the president of the United States, Donald Trump, began commercial wars with commercial partners of Canada, Mexico and China (and threatening tariffs against the European Union).

There is no doubt that the main CEO of Australia will be interrogated about how this new era of global protectionism will affect their future profits.

In addition, there are more than 90% possibilities that the Reserve Bank reduces interest rates, when its next meeting concludes on February 18, according to monetary markets.

These rates cut expectations have led to the Australian sharing market near the maximum record, so there is pressure to offer strong profits and earnings of profits to justify its expensive assessments.

For more information, this is my story about what you can expect in the coming weeks:

The China Ministry of Commerce announced that it is implementing contrary rates against the US. In multiple products.

The government said it would implement a 15 percent rate on coal and liquefied natural gas products, as well as a 10 percent tariff on crude oil, agricultural machinery and large -displacement cars.

The tariff announcement occurs when the additional rate of 10 percent of Chinese imports to the United States entered into force on Tuesday.

China’s decision to implement tariffs now shows that Beijing wants to send a message to the president of the United States that he considers that tariffs are useless and unnecessary.

For more details, here is the last update of David Taylor:

Good day! I will be here to guide it through the latest financial and economic news.

The Australian shares market is on its way to starting its highest day, after the markets had the opportunity to digest China’s response to the rates of US President Donald Trump.

ASX futures rose 0.7%which suggests that there will be moderate profits in a few hours.

Yesterday afternoon, Porcelain announced that it would impose:

• 15% of tariffs In American coal and imports of liquefied natural gas (LNG), and
• 10% rates About the agricultural equipment and oil imports.

These rates are ready to start from February 10 (next week).

Initially, the markets panicked a bit: the Australian dollar fell below 62 US cents, US futures and Europeans fell, Asian stock markets erased their previous profits and oil prices fell sharply.

But since then, things have calmed down when investors decided that China’s response was measured (leaving a lot of space to negotiate with the United States).

That realization led to a better day than expected to Financial WorldWhat did the Dow Jones and SANDP 500 Increases by 0.3% and 0.7% respectively, in the afternoon trade.

The technological stocks of the United States experienced the greatest profits, promoting the Nasdaq compound higher at 1.2%.

There was also a significant improvement for Australian dollarwhich raised 0.5% to 62.6 cents from the USA.

In oil markets, Brent Crude Futures were Practically flat with just under $ US76 per barrel.

Meanwhile, all this global uncertainty has promoted the price of spot gold to a new high record, 1% to $ US2,842 per ounce.