AU Morning Wrap: Wall Street slide; ASX opens higher
G'day, mooers! Check out the latest news on today's stock market !
• Wall Street slide last week
• Australia shares opened higher on Monday; ASX 200 up 1.07 per cent
• Stocks to watch: Ampol, Elders
- moomoo News AU
• Wall Street slide last week
• Australia shares opened higher on Monday; ASX 200 up 1.07 per cent
• Stocks to watch: Ampol, Elders
- moomoo News AU
Wall Street Summary
The Dow fell to a fifth straight weekly loss as the conflict in Ukraine continued to depress risk appetite and as US investors reduced their exposure ahead of a likely rate rise this week.
The Dow fell to a fifth straight weekly loss as the conflict in Ukraine continued to depress risk appetite and as US investors reduced their exposure ahead of a likely rate rise this week.
The $S&P 500 Index(.SPX.US$ faded 125 points or 2.88 per cent. The $Dow Jones Industrial Average(.DJI.US$ gave up 671 points or 1.99 per cent. The $Nasdaq Composite Index(.IXIC.US$ shed 470 points or 3.53 per cent last week.
AU Market Watch
Australia’s $S&P/ASX 200(.XJO.AU$ looks likely to open higher after oil prices rebounded, shrugging off a negative lead from U.S. equities. ASX futures are up by 0.3%, suggesting the benchmark will bounce from a 0.9% loss on Friday. Australian energy stocks may find support after Brent crude futures rose 3.3% at the end of last week.
Australia shares opened higher on this morning. The $S&P/ASX 200(.XJO.AU$ gained 1.07 per cent to 7139 as of 12:19 pm.
AU Market Watch
Australia’s $S&P/ASX 200(.XJO.AU$ looks likely to open higher after oil prices rebounded, shrugging off a negative lead from U.S. equities. ASX futures are up by 0.3%, suggesting the benchmark will bounce from a 0.9% loss on Friday. Australian energy stocks may find support after Brent crude futures rose 3.3% at the end of last week.
Australia shares opened higher on this morning. The $S&P/ASX 200(.XJO.AU$ gained 1.07 per cent to 7139 as of 12:19 pm.
Key Economic Events of the Week
Tuesday 3/15
The Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.1% for the 15th month in a row during its March 2022 meeting, as expected. While mentioning that the war in Ukraine was a major new source of uncertainty, policymakers reiterated unpredictability over how persistent the pick-up in Australia's inflation on the back of recent developments in global energy markets and ongoing supply-side problems.
The Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.1% for the 15th month in a row during its March 2022 meeting, as expected. While mentioning that the war in Ukraine was a major new source of uncertainty, policymakers reiterated unpredictability over how persistent the pick-up in Australia's inflation on the back of recent developments in global energy markets and ongoing supply-side problems.
The Residential Property Price Index in Australia rose by 5.0 percent qoq in Q3 2021, slowing from a 6.7% growth in Q2 but matching market consensus. Still, this marked the fifth straight quarter of growth in property prices, supported by record-low interest rates, strong demand, and low levels of stock on the market.
Wednesday 3/16
The Westpac-Melbourne Institute Leading Economic Index in Australia rose 0.1% YoY in January 2022, improving from a reading of no change in the previous month. Meanwhile, the six-month annualized growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose 0.4% in January 2022 from -0.1% in the previous month.
Thursday 3/17
Australia's seasonally adjusted unemployment stood at 4.2% in January 2022, unchanged from a month earlier. The latest reading was in line with market estimates while remaining at the lowest level since August 2008, as COVID-19 lockdowns were lifted.
Stocks to Watch
$Ampol Ltd(ALD.AU$ said it had agreed to sell its New Zealand Gull business to investment manager Allegro for more than NZ$500 million.
$Elders Ltd(ELD.AU$ told shareholders this morning expects its underlying earnings before interest and tax (EBIT) for the 2022 financial year to be 20-30 per cent higher than in 2021, boosted by excellent weather conditions.
Ex-dividend Companies
$Austin Engineering Ltd(ANG.AU$ $Ariadne Australia Ltd(ARA.AU$ $Best & Less Group holdings Ltd(BST.AU$ $Chorus Ltd(CNU.AU$ $FFI Holdings Ltd(FFI.AU$
Commodities
• Iron ore eased slightly, but remain above the symbolic US$150 a tonne level.
• Oil remains volatile as headlines regarding the Russia-Ukraine war and US-Iran nuclear talks kept the market on edge.
• Gold has struggled to hold above US$2,000 following the short-lived Russian ceasefire talks. Gold’s bull-case remains intact given inflationary pressures, economic growth concerns and the continued Russian assault on Ukraine.
Source: Dow Jones Newswires, Market Index
Wednesday 3/16
The Westpac-Melbourne Institute Leading Economic Index in Australia rose 0.1% YoY in January 2022, improving from a reading of no change in the previous month. Meanwhile, the six-month annualized growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose 0.4% in January 2022 from -0.1% in the previous month.
Thursday 3/17
Australia's seasonally adjusted unemployment stood at 4.2% in January 2022, unchanged from a month earlier. The latest reading was in line with market estimates while remaining at the lowest level since August 2008, as COVID-19 lockdowns were lifted.
Stocks to Watch
$Ampol Ltd(ALD.AU$ said it had agreed to sell its New Zealand Gull business to investment manager Allegro for more than NZ$500 million.
$Elders Ltd(ELD.AU$ told shareholders this morning expects its underlying earnings before interest and tax (EBIT) for the 2022 financial year to be 20-30 per cent higher than in 2021, boosted by excellent weather conditions.
Ex-dividend Companies
$Austin Engineering Ltd(ANG.AU$ $Ariadne Australia Ltd(ARA.AU$ $Best & Less Group holdings Ltd(BST.AU$ $Chorus Ltd(CNU.AU$ $FFI Holdings Ltd(FFI.AU$
Commodities
• Iron ore eased slightly, but remain above the symbolic US$150 a tonne level.
• Oil remains volatile as headlines regarding the Russia-Ukraine war and US-Iran nuclear talks kept the market on edge.
• Gold has struggled to hold above US$2,000 following the short-lived Russian ceasefire talks. Gold’s bull-case remains intact given inflationary pressures, economic growth concerns and the continued Russian assault on Ukraine.
Source: Dow Jones Newswires, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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