Where does the sharemarket stand in the environment dominated by the COVID-19 coronavirus crisis?

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Evening Report

9 Apr 20,5.30pm (AEST). It was an impressive performance from the Australian sharemarket on Thursday, with the ASX 200 lifting by 180.6pts or 3.34 per cent to 5,387.3. PREVIOUS REPORT

Aussie sharemarket: Where do we stand?

6 Apr 20. The ASX 200 index has fallen around 29 per cent from the February 20 high.

Share of first home buyers at decade high

8 Apr 20. The number of first home buyers were 9,734 in February, representing 36.2% of all owner-occupier loans.

Consumer spirits lift

7 Apr 20. Aussie consumers gave the Federal government’s $130 billion ‘JobKeeper’ wage subsidy package the ‘thumbs up’.The weekly ANZ-Roy Morgan consumer confidence rating rose by 10.1 per cent to 71.9 points – the biggest lift since August 31 2008. 

Petrol price slides, but much further to go

6 Apr 20. The national average price of unleaded petrol fell by 7.1 cents to a 31-month low of 120.5 cents a litre last week.

RBA leaves cash rate unchanged

7 Apr 20. The Reserve Bank has maintained its targets for the cash rate and 3-year government bond yield at 0.25 per cent

Sharemarkets – March 2020

2 Apr 20. Overall in March the US Dow Jones fell by 13.7 per cent; the S&P 500 lost 12.5 per cent; and the Nasdaq was down by 10.1 per cent.

Clothing & new vehicle sales fall

3 Apr 20. Spending on clothing, footwear and other personal accessory retailing fell by 2.3% over the year to February – the biggest annual decline in 8½ years. 

The Week Ahead

9 Apr 20. Australian financial markets are closed to observe the Easter Monday holiday. While most focus will be on the Bureau of Statistics’ (ABS) labour force survey, business and consumer confidence indicators will also generate plenty of investor attention.

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