AU Morning Wrap: ASX Dips Ahead of Federal Budget, Financials Lead Losses

US stocks advanced, with the $S&P 500 Index(.SPX.US)$ continuing its march near a record, buoyed by gains in consumer staples, technology, financials, healthcare and industrials.

The S&P 500 gained 0.2% to 5,222.68, staying on an upward trajectory that's now approaching the all-time closing high of 5254.35. The $Dow Jones Industrial Average(.DJI.US)$ advanced for an eight session, settling 0.3% higher at 39512.84. The $Nasdaq Composite Index(.IXIC.US)$ swung between gains and losses before closing 0.03% lower at 16,340.87.

The $U.S. 2-Year Treasury Notes Yield(US2Y.BD)$ rose to 4.872%, while the $U.S. 10-Year Treasury Notes Yield(US10Y.BD)$ ticked higher at 4.50%.

The benchmark $S&P/ASX 200(.XJO.AU)$ slipped 0.1% or 6.7 points to 7742.3, following a 1.6% gain last week, marking the third consecutive five-day increase. The All Ords also fell 0.1%.

The $AUD/USD(AUDUSD.FX)$ is trading at US66.03¢, almost flat.

As of latest data, $Bitcoin(BTC.CC)$ is priced at $61,547, up 1.05% in the past 24 hours, while $Ethereum(ETH.CC)$ is priced at $2,934, up 0.61% in the past 24 hours.

Bunnings Landlord $BWP Trust(BWP.AU)$ remained unchanged as it finalises the acquisition of smaller rival Newmark Property REIT. The deal is expected to strengthen BWP Trust's position in the Australian property market.

Medical glove maker $Ansell Ltd(ANN.AU)$ saw a 1% rally in its stock price after it successfully increased and completed a $75 million share purchase plan (SPP), which is expected to boost its financial position.

Financial services software company $IRESS Ltd(IRE.AU)$' shares fell by 0.7% after it reported a security breach on a third-party platform. Although Iress did not find any evidence of data leak, the incident has raised concerns about the company's security measures.