Last week was a very positive one for the S&P/ASX 200 Index (ASX: XJO). The benchmark index stormed an impressive 6.95% higher to end it at 5,387.3 points. This was its third straight week of gains.
Will there be more of the same next week? Here are a few things to watch:
Wall Street ends on a high.
Wall Street ended the week on a positive note. All three of its major indices pushed higher on Thursday, leading to stellar weekly gains. Over the four days the Dow Jones rose 12%, the S&P 500 climbed 12.1%, and the Nasdaq jumped 10.6%. The S&P 500's gain was its largest since 1974, whereas the Nasdaq's gain was its best weekly gain since 2009. Wall Street reopens on Monday, but the S&P/ASX 200 index will be closed until Tuesday.
Afterpay update.
The Afterpay Ltd (ASX: APT) share price will be on watch on Tuesday when the market reopens. The payments company is scheduled to release its business update, which will include an update on its performance in the March quarter. A number of its competitors released their latest numbers last week and revealed further strong growth. The Afterpay share price jumped 11% on Thursday, so it appears some investors are expecting a strong quarter.
G8 Education to return.
The G8 Education Ltd (ASX: GEM) share price is scheduled to return from its suspension on Tuesday. The childcare centre operator's shares were halted last week whilst it undertook a $301 million fully underwritten equity raising. These funds are being raised at a 26% discount to its last close price. The proceeds will be used to repay debt, increase cash on hand, and pay transaction costs. This is expected to position the company for further growth opportunities during and beyond the recovery phase. The company also announced the suspension of its dividend.
Rio Tinto quarterly update.
On Friday all eyes will be on the Rio Tinto Limited (ASX: RIO) share price when it releases its quarterly update. Investors will no doubt be keen to see how production, costs, and demand are faring during the coronavirus pandemic. Many of its fellow miners are then scheduled to released their updates the following week.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
