AU Morning Wrap: ASX opens higher, Fortescue, Rio fall
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• Wall Street faded as Powell said rate hikes could cause a recession
• Australian shares opened higher on Thursday, ASX 200 up 0.31 per cent
• Stocks to watch: AGL, Bubs, Growthpoint
- moomoo News AU
• Wall Street faded as Powell said rate hikes could cause a recession
• Australian shares opened higher on Thursday, ASX 200 up 0.31 per cent
• Stocks to watch: AGL, Bubs, Growthpoint
- moomoo News AU
Wall Street Summary
US stocks closed modestly lower in volatile trade as investors weighed testimony from Fed Chair Jerome Powell and a growing number of recession predictions.
The $S&P 500 Index(.SPX.US$ faded in the final hour to a loss of five points or 0.13 per cent. The $Dow Jones Industrial Average(.DJI.US$ finished 47 points or 0.15 per cent in the red after being up almost 250 points and down more than 360 points. The $Nasdaq Composite Index(.IXIC.US$ lost 16 points or 0.15 per cent.
AU Market Watch
Australian stock futures are pointing to a higher open for the S&P/ASX 200 despite modest declines by U.S. stocks. U.S. equities finished lower as the Fed chairman acknowledged that central bank rate raises could cause an economic downturn. ASX futures are up by 0.4%, suggesting a rally from Wednesday's 0.2% decline.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.31 per cent to 6529 as of 10:16 am.
US stocks closed modestly lower in volatile trade as investors weighed testimony from Fed Chair Jerome Powell and a growing number of recession predictions.
The $S&P 500 Index(.SPX.US$ faded in the final hour to a loss of five points or 0.13 per cent. The $Dow Jones Industrial Average(.DJI.US$ finished 47 points or 0.15 per cent in the red after being up almost 250 points and down more than 360 points. The $Nasdaq Composite Index(.IXIC.US$ lost 16 points or 0.15 per cent.
AU Market Watch
Australian stock futures are pointing to a higher open for the S&P/ASX 200 despite modest declines by U.S. stocks. U.S. equities finished lower as the Fed chairman acknowledged that central bank rate raises could cause an economic downturn. ASX futures are up by 0.4%, suggesting a rally from Wednesday's 0.2% decline.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.31 per cent to 6529 as of 10:16 am.
Stocks to Watch
$AGL Energy Ltd(AGL.AU$: The AGL Energy Board have confirmed the initial outcomes of its review of strategic direction will be presented in September.
$BUBS Australia Ltd(BUB.AU$: Two more planeloads of Bubs Infant Formula are due to touch down in the US under Operation Fly Formula. One planeload will fly from Melbourne to LA arriving on June 26 and the other will arrive in Philadelphia on July 5.
$Growthpoint Properties Australia(GOZ.AU$: Real estate investment trust company Growthpoint Properties has upgraded its fiscal funds from operations guidance to "at least 27.7 cents per share", up from 27 cents per share guided in December 2021.
Commodities
• Iron ore extended losses in response to continued weakness in downstream demand, sources told Fastmarkets.
• Oil was crushed on recession fears, falling to a 6-week low of US$104.
• Gold crept higher as the doom and gloom is driving demand for safe havens.
Source: Dow Jones Newswires, AFR
$AGL Energy Ltd(AGL.AU$: The AGL Energy Board have confirmed the initial outcomes of its review of strategic direction will be presented in September.
$BUBS Australia Ltd(BUB.AU$: Two more planeloads of Bubs Infant Formula are due to touch down in the US under Operation Fly Formula. One planeload will fly from Melbourne to LA arriving on June 26 and the other will arrive in Philadelphia on July 5.
$Growthpoint Properties Australia(GOZ.AU$: Real estate investment trust company Growthpoint Properties has upgraded its fiscal funds from operations guidance to "at least 27.7 cents per share", up from 27 cents per share guided in December 2021.
Commodities
• Iron ore extended losses in response to continued weakness in downstream demand, sources told Fastmarkets.
• Oil was crushed on recession fears, falling to a 6-week low of US$104.
• Gold crept higher as the doom and gloom is driving demand for safe havens.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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