S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are pointing to a very strong open after US markets finished up around 4%.
Democratic nominee Joe Biden was become the favourite to go up against Donald Trump in this year’s election, which has been cheered by US investors.
The market has previously indicated it is cautious or afraid of Bernie Sanders’ more socialist policies.
While the coronavirus or COVID19 is still keeping volatility high, Super Tuesday took centre stage overnight.
The S&P 500 Index (INDEXSP:.INX) closed at 3,130.12, +126.75 or up 4.22% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 9,018.09, +334.00 or up 3.85%.
A large number of ASX companies go ex-dividend today including Mcmillan Shakespeare (ASX:MMS), ASX Limited (ASX:ASX), BHP Limited (ASX:BHP), Ramsay Healthcare Ltd (ASX:RHC) and Rio Tinto Limited (ASX:RIO).
Gold and oil steady, AUD bounces off low
Gold is trading US$8 lower or -0.5% overnight at US$1,636 per ounce and Crude Oil WTI is steady overnight at S$47.27 per barrel.
The AUD has bounced off its 10-year low of around 64.5 cents versus the USD and is trading at 66.2 cents.
[VIDEO] Morning Report - US sharemarkets rose on Wednesday - investors were encouraged by victories in 'Super Tuesday' primaries by moderate Democrat Joe Biden ahead of left-wing candidate Bernie Sanders.https://t.co/v5ss4yhjnC#ausbiz— CommSec (@CommSec) March 4, 2020