Welcome to Friday Fools. Here are the five things I'm looking at today on the Australian sharemarket.
- The S&P/ ASX 200 (Index: ^AXJO) (ASX: XJO) has soared 1% higher in early trading, despite weak leads from Wall Street overnight.In the US, the Dow Jones gained 0.1%, the broader S&P 500 rose 0.2% and the tech-heavy NASDAQ recorded a third consecutive 0.4% gain.Oil prices were mixed, with Brent Crude Oil rising 3.4% to US$64.85 per barrel while WTI Crude fell 0.4% to US$57.50 per barrel. (WTI stands for West Texas Intermediate and is the benchmark oil price in the US while the Brent crude oil price is more widely used in Europe.)The Australian dollar is up against the US dollar and is currently buying 77.7 US cents.
- The Apple Watch launches today, but media reports suggest it will take some time to become available in stores around Australia. Delivery will be for those who pre-ordered the watch, but as with most Apple products, demand is likely to exceed supply and some buyers may be waiting some time for their Watches.An estimated 1 in 4 iPhone users is expected to buy an Apple Watch to use with their mobile in the next few years. Android phone makers are also expected to unleash a storm of digital watches that could open up another profitable avenue of devices for the likes of JB Hi-Fi Limited (ASX: JBH), Dick Smith Holdings Ltd (ASX: DSH) and a host of online-only retailers.
- Telstra Corporation Ltd (ASX: TLS) may be streaming giant Netflix's next internet service provider (ISP) partner, according to the Australian Financial Review (AFR). Rivals Optus – owned by Singapore Telecommunications Ltd (CHESS) (ASX: SGT) and iiNet Limited (ASX: IIN) have already signed deals with Netflix, and it probably won't be long before Telstra signs a deal too.
- Tweet of the Day
'Apple of #accounting' unleashes a tide of red ink https://t.co/PZ783ityRk #tech #software
Financial Review (@FinancialReview) April 23, 2015Xero FPO NZ (ASX: XRO) sees net loss more than double, but the accounting firm is growing strongly in both revenues and subscribers.
- Stock of the Day – brought to you by Tim McArthur – CSL Limited (ASX: CSL). Shares might be nudging $94, but this biotech stock still has plenty of potential ahead. Read more here.
