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AU Morning Wrap: ASX Rises; Paladin Plummets

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Moomoo News AU wrote a column · Jun 24 19:47
G'day, mooers! Check out the latest news on today's stock market!
• Wall Street closes mixed
• ASX rises; Paladin plummets
• Stocks to watch: Paladin Energy, Healius, Synlait Milk, Coronado Global Resources
AU Morning Wrap: ASX Rises; Paladin Plummets
Wall Street Summary
U.S. stock indices were mixed, while $NVIDIA(NVDA.US)$'s stock falls into correction territory with an almost $400 billion plunge. Meanwhile, investors are awaiting May's personal consumption expenditure data and the Federal Reserve's preferred inflation gague this week. The $Dow Jones Industrial Average(.DJI.US)$ advanced 0.67%. The $S&P 500 Index(.SPX.US)$ traded down 0.31%, while the tech-heavy $Nasdaq Composite Index(.IXIC.US)$ declined 1.09%.
AU Market Watch
Following the opening bell on Tuesday, Australian stock markets experienced a widespread rally, echoing the optimistic trend on Wall Street, where stocks neared all-time highs despite Nvidia's ongoing downturn.
The $S&P/ASX 200(.XJO.AU)$ recovered from Monday's 0.8 percent decline and climbed by 0.7 percent, adding 54.90 points to reach 7788.6. This upswing positioned the index for a potential monthly increase. Similarly, the broader All Ordinaries Index witnessed a 0.7 percent rise.
A total of ten industry sectors saw gains, with the energy sector leading the charge with a 1.4 percent increase, buoyed by surging oil prices. $Woodside Energy Group Ltd(WDS.AU)$ experienced a notable 2.5 percent jump, while both $Santos Ltd(STO.AU)$ and $Origin Energy Ltd(ORG.AU)$ saw their shares ascend by 1.5 percent.
ASX 200 futures are currently trading at 7,780.5, up by 22 points, indicating a 0.28% increase.
The $AUD/USD(AUDUSD.FX)$ is trading at US66.55¢, a decrease of 0.02%.
Commodity
Spot gold increased by 0.5% to $US2332.90 per ounce as of 2.02pm in New York.
Brent crude advanced by 1.1% to $US86.14 per barrel
Iron ore fell by 2.4% to $US102.60 per tonne.
Crypto
As of latest data, $Bitcoin(BTC.CC)$ is priced at $60,249, down by 4.71% in the past 24 hours, while $Ethereum(ETH.CC)$ is priced at $3,349, down by 2.59% in the past 24 hours.
Stocks to Watch
$Paladin Energy Ltd(PDN.AU)$ experienced an 8.2 per cent decline following its announcement of a proposed acquisition of the Toronto-listed company Fission Uranium. This strategic move is aimed at initiating production at its planned Canadian mining project by the year 2029.
$Healius Ltd(HLS.AU)$ experienced a marginal decline of 1.3 percent following the release of its earnings guidance, which projected underlying earnings before tax and depreciation to be between $345 million and $350 million.
$Synlait Milk Ltd(SM1.AU)$, a specialty dairy firm, maintained its share value at 29.5 cents, while actively pursuing approval from its shareholders for an essential loan amounting to $NZ130 million ($120 million).
$Coronado Global Resources Inc(CRN.AU)$ witnessed a slight drop of 0.4 percent after the Energy & Minerals Group withdrew its acquisition proposal with Sev.en Global Investments, citing regulatory complications as the primary deterrent.
Economic Calendar (AEST)
10:30 am: Australia Consumer Confidence (Jun)
10:30 pm: Canada Inflation Rate (May)
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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