AU Morning Wrap: ASX opens higher, led by banks and miners
G'day, mooers! Check out the latest news on today's stock market!
• US tech rout deepened after Snapchat dipped 43%
• Australian shares opened higher on Wednesday; ASX 200 up 0.28 per cent
• Stocks to watch: Worley, Fisher & Paykel, Sayona
- moomoo News AU
• US tech rout deepened after Snapchat dipped 43%
• Australian shares opened higher on Wednesday; ASX 200 up 0.28 per cent
• Stocks to watch: Worley, Fisher & Paykel, Sayona
- moomoo News AU
Wall Street Summary
A sharply-divided market saw defensive sectors rally and social media stocks plunge as traders weighed a weak outlook from Snap and a sharp retreat in bond yields as soft economic data fuelled a rush to the safety of the bond market.
The $Dow Jones Industrial Average(.DJI.US$ finished 48 points or 0.15 per cent higher after being down as much as 1.6 per cent. The tech-heavy $Nasdaq Composite Index(.IXIC.US$ shed 271 points or 2.35 per cent. The $S&P 500 Index(.SPX.US$ lost 32 points or 0.81 per cent.
AU Market Watch
Australia's S&P/ASX 200 looks set to eke out a modest gain at the open even after U.S. stocks mostly dropped amid renewed selling of tech stocks. ASX futures are up by 0.1%, hinting at a minor steadying from the prior session's 0.3% fall. Official construction-work data due Wednesday may give investors some clue about the state of Australia's economy.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.28 per cent to 7149 as of 10:13 am.
A sharply-divided market saw defensive sectors rally and social media stocks plunge as traders weighed a weak outlook from Snap and a sharp retreat in bond yields as soft economic data fuelled a rush to the safety of the bond market.
The $Dow Jones Industrial Average(.DJI.US$ finished 48 points or 0.15 per cent higher after being down as much as 1.6 per cent. The tech-heavy $Nasdaq Composite Index(.IXIC.US$ shed 271 points or 2.35 per cent. The $S&P 500 Index(.SPX.US$ lost 32 points or 0.81 per cent.
AU Market Watch
Australia's S&P/ASX 200 looks set to eke out a modest gain at the open even after U.S. stocks mostly dropped amid renewed selling of tech stocks. ASX futures are up by 0.1%, hinting at a minor steadying from the prior session's 0.3% fall. Official construction-work data due Wednesday may give investors some clue about the state of Australia's economy.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.28 per cent to 7149 as of 10:13 am.
Stocks to Watch
$Worley Ltd(WOR.AU$: Global engineering group Worley won a contract with Heartwell Renewables, a joint venture between The Love's Family of Companies and Cargill, to provide services for a greenfield renewable diesel plant in Hastings, Nebraska (US).
$Fisher & Paykel Healthcare Corp Ltd(FPH.AU$: Fisher & Paykel Healthcare decided against issuing financial 2023 revenue and earnings guidance after reporting 2022 net profit fell 28 per cent to $NZ376.9 million and revenue by 15 per cent to $NZ1.68 billion.
$Sayona Mining Ltd(SYA.AU$: ASX-listed lithium play Sayona Mining has entered a trading halt pending the release of an announcement about a capital raising.
Commodities
• Iron ore prices eased to US$133 amid limited downstream demand for steel, which narrowed steelmaker margins, according to Fastmarkets.
• Oil remains directionless as the lack of spare production capacity and tight supply is offset by deteriorating economic growth.
• Gold extends its win streak to 5 days as Treasury yields continue to plunge.
Source: Dow Jones Newswires, AFR
$Worley Ltd(WOR.AU$: Global engineering group Worley won a contract with Heartwell Renewables, a joint venture between The Love's Family of Companies and Cargill, to provide services for a greenfield renewable diesel plant in Hastings, Nebraska (US).
$Fisher & Paykel Healthcare Corp Ltd(FPH.AU$: Fisher & Paykel Healthcare decided against issuing financial 2023 revenue and earnings guidance after reporting 2022 net profit fell 28 per cent to $NZ376.9 million and revenue by 15 per cent to $NZ1.68 billion.
$Sayona Mining Ltd(SYA.AU$: ASX-listed lithium play Sayona Mining has entered a trading halt pending the release of an announcement about a capital raising.
Commodities
• Iron ore prices eased to US$133 amid limited downstream demand for steel, which narrowed steelmaker margins, according to Fastmarkets.
• Oil remains directionless as the lack of spare production capacity and tight supply is offset by deteriorating economic growth.
• Gold extends its win streak to 5 days as Treasury yields continue to plunge.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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