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The Aussie share market is expected to rise 0.5% at the open, after U.S. equities throttled ahead on COVID-19 vaccine hopes.
After market close Biotech giant Moderna announced its potential COVID-19 vaccine produced a strong immune response, neutralizing antibodies in all of the 45 patients in its early stage human trial. The U.S. futures are now suggesting a 0.9% rally when trade resumes this evening. That’s red hot news for Aussie investors, who closely follow what U.S. futures are doing as a sentiment indicator. So you could expect Aussie eco recovery stocks to follow Wall Street’s lead.
What to watch today:
Today consumer confidence data is out following better than expected NAB business confidence numbers out yesterday. Will confidence return to positivity and rise more than expected given the government cash handouts and superannuation withdrawals?
Trading ideas: