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S&P/ASX 200 futures support a another positive day ahead

The S&P 500 closed up 6.24% and the Nasdaq Composite closed down 5.60%.

Cochlear Limited - S&P/ASX 200 futures support a positive day ahead
With US markets now 20% off their lows, it is technically now back in a bull market

S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are up around 4% heading into the open as the ASX 200 looks to build on yesterday's gains of 2.30% to 5,113.30.

US markets put together their third positive day and importantly finished near their highs.

The S&P 500 Index (INDEX:. INX) closed at 2,630.07, +154.51 or up 6.24% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 7,797.54, +413.24 or up 5.60%.

Notably, the rally was in the face of a record data result that showed 3.2 million Americans filed for unemployment benefits in a week.

This was four times higher than the previous record of 695,000 back in 1982.

 

 

In our local market Cochlear Limited (ASX:COH) traded positively yesterday after raising $800 million in a share placement priced at $140, it closed up 8.43% at $182.17.

Gold flat, oil down and AUD continues to regain lost ground

Gold is up 0.36% overnight to US1,639 per ounce and Crude Oil WTI is down 5.4% to US$23.16 per barrel.

The AUD continues to rally off its recent lows, now buying 60.45 US cents, well below where it started the month at 66 US cents but also well off its recent lows of 55 US cents.

 

 

Quick facts: Cochlear Limited

Price: 197.21 AUD

ASX:COH
Market: ASX
Market Cap: $12.64 billion
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