AU Morning Wrap: ASX Flat Ahead of CPI Data
G'day, mooers! Check out the latest news on today's stock market!
• Wall Street closes lower
• ASX flat ahead of CPI data
• Stocks to watch: APM Human Services, Platinum Asset Management
• Wall Street closes lower
• ASX flat ahead of CPI data
• Stocks to watch: APM Human Services, Platinum Asset Management
Wall Street Summary
Freshly listed stocks traded higher Tuesday, but the entire market seemed to pull back in the final hour of trading. Indexes swung from a 0.20% climb to a fall of the same amount.
With preliminary closing figures, $S&P 500 Index(.SPX.US$ fell 0.28%, the $Dow Jones Industrial Average(.DJI.US$ fell 0.08%, and the $Nasdaq Composite Index(.IXIC.US$ fell 0.42%.
AU Market Watch
At the start of trade, Australian shares declined following the modest losses seen on all three US benchmarks. The benchmark $S&P/ASX 200(.XJO.AU$ Index dropped 0.1% or 5.3 points to 7774.9, driven down by losses in the materials sector.
The mining stocks on the ASX, following a slump in Singapore iron ore futures yesterday, continued to experience volatile trading amid growing concerns over Chinese demand. Additionally, base metals also experienced a decline. Local investors are anticipating the release of monthly CPI data at 11.30am AEDT.
Stocks to Watch
$APM Human Services International Pty(APM.AU$ has paused trading after receiving a letter from CVC Capital Markets, a private equity firm, indicating that it cannot complete the transaction on terms consistent with the non-binding offer disclosed to the ASX on February 28th.
$Platinum Asset Management Ltd(PTM.AU$'s shares dropped by 21% following the announcement last night that the struggling investment firm had lost $1.4 billion in mandated funds from an undisclosed client.
Listing: None
Economic Calendar (AEDT):
11:30 am: Australia Monthly CPI Indicator (Feb)
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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