The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went up by 2.4% on Monday.
Australian Dollar ($A) (AUDUSD): 69.44US cents
Dow Jones (DJI): down 2.38%
Oil (WTI): $US60.91 per barrel
Gold: $US1,300 per ounce
ASX Sharemarket News
In ASX sharemarket news, most of the Australian share market is likely to see falls today as China said that it would respond with another set of tariffs on US$60bn of US goods after the US recently increased its own tariffs.
There were several Australian shares that took a tumble when the US put up its tariffs, so I wouldn’t be surprised to see the Treasury Wine Estates Ltd (ASX: TWE) share drop a few percent today.
The only sector I can see having a good day is the gold sector as the gold price went up overnight.
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Funeral operator Invocare Limited (ASX: IVC) has released a trading update for the first quarter of its 2019 year.
Compared to the prior year, gross sales revenue was 7.8% higher, operating EBITDA grew by 22.2% (click here to learn what EBITDA means), the operating profit margin increased by 2.5% and operating net profit after tax went up by 9%.
The company re-iterated that the soft market conditions had started to improve, with the number of deaths beginning to revert to the long term trend.
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Car dealership business Automotive Holdings Group Ltd (ASX: AHG) has announced a trading update with a further downgrade to profit expectations.
Operating net profit is now expected to be approximately $50 million compared to the previous guidance of $52 million to $56 million.
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Disclosure: Jaz owns shares of Invocare at the time of writing, but this could change at any time.
