Australia

S&P/ASX 200 futures strong heading into the last session of the month

S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are up around 3.5% looking to continue yesterday's solid performance of +7.00% to 5,181.40.

US markets were positive overnight, with a gradual rally over the day.

The S&P 500 Index (INDEX:. INX) closed at 2,626.65, +85.18 or up 3.35% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 7,774.15, +271.77 or up 3.62%.

Today is the last trading day of the month and will look to continue yesterday's positive momentum thanks to the $130 billion additional government stimulus.

The highlight of the stimulus was that companies can access $1,500 per week for their employees for 6 months if they can show their business has been affected by the virus.

In company news this morning, Wesfarmers Ltd (ASX:WES) has sold another 5.2% of its stake in Coles Group Ltd (ASX:COL) for $15.39 per share raising $1.06 billion.

Wesfarmers still retains a 4.9% interest in Coles.

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