Australian shares are set drop in early trade as the massive rally overseas — sparked by hopes of a slowing coronavirus infection curve — is starting to fizzle out.AUD: 61.68 US cents, 49.98 British pence, 56.61 Euro cents, 67.08 Japanese yen, $NZ1.032Europe: FTSE 100 +2.2pc at 5,704, DAX +2.8pc at 10,357, CAC +2.1pc at 4,438, Euro Stoxx 50 +2.2pc at 2,858
Commodities: Brent crude -2pc at $US32.40/barrel, spot gold -0.8pc at $US1,646.93/ounce, iron ore -0.7pc at $US82.73/tonneThe local bourse will follow Wall Street's rollercoaster session, which saw massive gains at the start before ending with slight losses. The Dow Jones index finished 26 points lower at 22,654, a big comedown from its earlier 900-point surge.Wall Street has surged by more than 20 per cent in the past week. But some investors believe markets are getting ahead of themselves given the economic fallout from COVID-19 is widely expected to be worse than the global financial crisis more than a decade ago.However, US markets lost their steam as oil prices tumbled in the afternoon trading session.
The ASX drops everyday rises the next no news there. You look like getting the long predicted recession so you be happy about that.
BUY BUY!!
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