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Markets await US tax vote

The benchmark S&P/ASX 200 surged to close at an almost 10-year high of 6075.6 points today, a level last seen in January 2008, as global markets await a vote on US tax reform.
Markets await US tax vote Markets await US tax vote Markets await US tax vote Markets await US tax vote Markets await US tax vote

S&P/ASX 200 up, diversified majors lower

Staff reporter

The index has crossed the psychological mark of 6,000 points several times since November and has been on an upward path since December 15.

Melbourne-based IG market analyst Chris Weston said he believed there was a good chance of seeing a repeat of January 2017, where the S&P 500 continued on its bullish trend, with inspiring global growth still a dominant theme, back by earnings growth and central bank forward guidance.

In Canada, the S&P/TSX Composite Index closed slightly higher but the Venture Exchange's Composite Index had closed lower.

The gold price was slightly higher than this time yesterday at US$1,263.30 an ounce on the spot market.

Gold miner St Barbara (AU:SBM) was one of the larger capitalised Australian stocks moving higher today, gaining 4.8% as it notified the market Van Eck Associates had slightly increased its holding in the company.

Diversified majors closed a little lower: BHP (AU:BHP) lost 0.1%, Rio Tinto (LN:RIO) had closed down 0.75% and Freeport-McMoRan (US:FCX) eased 0.12% but all remain close to one-year highs.

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