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        AU Morning Wrap: ASX Slips as Miners Sell off; RBA Expected to Hold

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        Moomoo News AU wrote a column · 12/05/2023 07:48
        G'day, mooers! Check out the latest news on today's stock market!
        • S&P 500 wobbles
        • ASX slips as miners sell off
        • Stocks to watch: Capricorn Metals, Origin Energy, Life360
        - Moomoo News AU
        AU Morning Wrap: ASX Slips as Miners Sell off; RBA Expected to Hold
        Wall Street Summary
        Stocks, bonds and precious metals retreated Monday, reversing course after markets last week extended a monthlong stretch of gains.
        Higher bond yields weighed on shares of large technology companies, pressuring the broader stock market. The tech-focused $Nasdaq Composite Index(.IXIC.US)$ lost 0.8 per cent, and the benchmark $S&P 500 Index(.SPX.US)$ dropped 0.5 per cent. The $Dow Jones Industrial Average(.DJI.US)$ slipped 0.1 per cent, or 41 points, snapping a four-day win streak.
        AU Market Watch
        Australian shares are tilting lower, tracking a dip on Wall Street after the recent strong rally prompted investors to take profit in the mega cap tech stocks and as bond yields reversed.
        The $S&P/ASX 200(.XJO.AU)$ is 36 points, or 0.5 per cent lower, at 7088.4. The All Ordinaries is also 0.5 per cent lower.
        Materials are the worst hit, down 1.8 per cent. Iron ore miners,$BHP Group Ltd(BHP.AU)$, $Rio Tinto Ltd(RIO.AU)$ and $Fortescue Ltd(FMG.AU)$ have all dipped more than 1.5 per cent. Gold and lithium stocks are also lower, tracking declines in commodity prices.
        Energy stocks are also dragging the index lower following a fall in the price of oil.
        Stocks to Watch
        $Capricorn Metals Ltd(CMM.AU)$: Capricorn Metals has fallen 6.8 per cent to $4.53 after directors Mark Clark and Mark Okeby sold 5 million and 2 million shares, respectively.
        $Origin Energy Ltd(ORG.AU)$: Origin Energy has slipped 1 per cent to $7.78. Yesterday, shareholders rejected a takeover proposal by Brookfield and EIG was rejected by shareholders.
        $Evolution Mining Ltd(EVN.AU)$: Evolution Mining has halted its shares ahead of a $525 million share placement to fund an 80 per cent stake in New South Wales gold and copper mine Northparkes. Shares last traded at $4.14.
        $Life360 Inc(360.AU)$: Life360 has slipped 3.7 per cent to $7.49 after co-founder and CEO Chris Hulls sold a $US4 million parcel of shares, citing tax obligations.
        Listing: None
        Economic Calendar (AEST):
        10:00 am: Korea Inflation Rate
        12:45 pm: China Caixin Services PMI (Nov)
        2:30 pm: RBA Interest Rate Decision
        2:00 am: US ISM Services PMI (Nov)
        2:00 am: US JOLTs Job Openings (Nov)
        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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