Everyone waking up this morning will be seeing the Oracle surge on Wall Street and more S&P 500 and Nasdaq composite records, but don’t expect all that to trickle down to Australian shares right away on Thursday.
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Instead, ASX 200 futures are pointing to a -0.2% retreat, with what my colleague Jonathon Davidson aptly called the “September breather” still going.
Over the last 12 months, we’ve surged as much as +10% higher nearly across the board, so it’s not overly shocking things are retracting a little – and September, oft a sour month regardless, is living up to its historic red leaning.
Of course, all that’s being ignored on a bullish Wall Street right about now.
The S&P 500 ticked up a second straight record yesterday, mostly surged on by Oracle’s historic +35.9% rocket; no company worth over $500B has ever gained as much through one trading day on the U.S. before.
No shock: The tech-leaning Nasdaq composite found a new record on the rush up as well, though the Dow Jones was left languishing down -0.5%.
In London, things looked closer to Down Under, with the FTSE -0.2%.
And speaking of back home, CBA’s data gurus have reported “a consumer recovery is underway,” with household spending growing for a sixth straight month.
ASX stocks to watch
All that leaves us wondering what ASX companies have plotted regarding announcements today and before 9am Thursday, the answer is: Not much.
Ariana Resources (ASX:AA2) remains one to watch after its midday float yesterday; the explorer enjoyed a +7% advance on its first day and is now sitting at 30 cents a share heading into its sophomore open bell.
Gold miner Great Boulder Resources (ASX:GBR) has caught attention on the HotCopper forums early, too, after bringing three more rigs in at its Side Well dig.
And Perenti (ASX:PRN) has today landed a $300 million contract to helm next mining at Ramelius Resources’ (ASX:RMS) Dalgaranga Gold project.
Buck and ore
Now – in forex, the Aussie dollar buys 66.1 US cents.
And to commodities, all in the greenback,
Iron Ore has pulled back -0.3% after its jump yesterday, spurred on by Israel attacking Hamas leadership in Qatar. It’s selling at $107 a tonne in Singapore,
Brent Crude is at $67.54,
Gold is still ticking higher, selling at $3,644 per ounce, and,
US natgas futures have dropped somewhat to sell at $3.02 per gigajoule.
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
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