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AU Morning Wrap: ASX Falls; Star Sinks 8pc on Proposed Pokies Tax

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Moomoo News AU wrote a column · Dec 18, 2022 18:01
G'day, mooers! Check out the latest news on today's stock market!
• The S&P 500 dropped 1.1% on Friday with all 11 sectors in the red.
• Australian shares sink, led by the real estate and tech sectors.
• Stocks to watch: Star Entertainment Group, Newcrest, Sezzle
- Moomoo News AU
AU Morning Wrap: ASX Falls; Star Sinks 8pc on Proposed Pokies Tax
Wall Street Summary
Wall Street struggled to shrug off hawkish rhetoric from central banks last week, down for a third straight session on Friday. The $S&P 500 Index(.SPX.US)$ dropped 1.1% on Friday with all 11 sectors in the red. The $Dow Jones Industrial Average(.DJI.US)$ fell 0.8% and the tech-focused $Nasdaq Composite Index(.IXIC.US)$ slid 1.0%.
AU Market Watch
The $S&P/ASX 200(.XJO.AU)$ fell 0.1 per cent to 7135.5 as of 10:55 am., weighed down by losses across the real estate and tech sectors.
Gold miners were among the best performers after the price of the precious metal rose nearly 1 per cent to $US1793.08 in New York. Ahead of the ASX open, gold miner Newcrest said its CEO will step down to be replaced on an interim basis by its CFO.
Stocks to Watch
$The Star Entertainment Group Ltd(SGR.AU)$ : Star Entertainment Group dropped 8.1 per cent to $2.37 after saying it "is seeking to urgently engage with the NSW government" over proposed gaming tax increases beginning in 2023.
$Newcrest Mining Ltd(NCM.AU)$ : Newcrest added 0.4 per cent to $20.75 after chief executive Sandeep Biswas retired.
$Sezzle Inc(SZL.AU)$: Sezzle jumped 6.9 per cent to 54.5¢ after announcing it achieved profitability in November as measured by net income and adjusted earnings before taxes, depreciation and amortisation.
Ex-dividend: None
Dividends Paid: $Civmec Ltd(CVL.AU)$
Commodities
• Iron ore futures fell -1.80% to US$109.40 a tonne.
• Oil prices were heavy amid growing recession fears and uncertainty over China’s reopening given an ongoing spike in covid cases.
• Gold prices rallied despite a firmer US dollar and bond yields.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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    Moomoo News AU
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