ASX slips as COVID cases rise, US stimulus stalls
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The Australian sharemarket wiped out most of its gains on Wednesday from the previous session, as a spike in the number of new COVID-19 cases in New South Wales and the stalling of further stimulus in the US dented investor sentiment.
The S&P/ASX 200 Index fell 17.9 points, or 0.3 per cent, to 6,682.4, rallying from a 1 per cent fall earlier in the session.
Senate Majority Leader Mitch McConnell.
Bloomberg
The market slid heavily at the open after US Senate majority leader Mitch McConnell defeated a bid by Democrats to vote on topping up stimulus cheques as part of an agreed fiscal bill.
The Australian sharemarket closed lower today, 18 points down or 0.3 per cent lower at 6,682. The World Health Organisation has marked the one year anniversary of the Coronavirus pandemic reporting that the worst is yet to come. WHO was first alerted on December 31 last year, when Chinese officials reported they were investigating a cluster of viral pneumonia in Wuhan. Afterpay (ASX:APT) shares fell today after a record high on Tuesday. The best performing stock today was the United Malt Group (ASX:UMG).
Futures
The Dow futures are suggesting a rise of 105 points. S&P 500 futures are eyeing a lift of 17 points. The Nasdaq futures are eyeing a rise of 51 points. And the SPI futures are eyeing a fall of 16 points tomorrow morning.