The global 'Trump rally' faltered overnight as investors once again began questioning what a Donald Trump presidency will actually entail. The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is set to follow their lead with the Sydney Futures Exchange pointing to a slight decline at the opening bell.
Here's a quick recap:
- FTSE 100 (UK): down 1.21%
- DAX (Germany): down 0.15%
- CAC 40 (France): down 0.28%
- Dow Jones (USA): up 1.17%
- NASDAQ (USA): down 0.81%
Iron ore miners BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) soared on Thursday as the iron ore price rocketed towards US$71 a tonne.
The group could benefit again today with the resource climbing another 4.4% to US$74.12 a tonne, according to The Metal Bulletin.
Gold, on the other hand, continued to decline which could weigh further on EVOLUTION FPO (ASX: EVN), St Barbara Ltd (ASX: SBM) and Regis Resources Limited (ASX: RRL), amongst others.
One of the market's best performing shares during yesterday's relief rally was Aconex Ltd (ASX: ACX), which will likely attract more attention today.
QBE Insurance Group Ltd (ASX: QBE) and Computershare Limited (ASX: CPU) rocketed higher as well, likely in anticipation of higher US interest rates, and could thus remain in focus.
Investors will also pay attention to some of the market's higher-yielding dividend stocks, including Transurban Group (ASX: TCL) and Sydney Airport Holdings Ltd (ASX: SYD). The pair fell sharply yesterday on talk of higher interest rates.