News MarketsMarketHighlights and 5 ASX Small Caps to watch on...

News Markets

MarketHighlights and 5 ASX Small Caps to watch on Monday

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November 15, 2021 | Eddy Sunarto

Wall Street was lowerfor the week

US stocks rebounded on Friday, butfinished the week lower after an inflation data-triggered selloff on Wednesday.

All three US stocks benchmarks rose,led by tech – the Dow Jones by 0.5%, the S&P 500 by 0.72%, and tech-heavyNasdaqby 1%.

All major tech giants rose between1-4%, while Johnson & Johnson announced that it will split its businessinto two separately listed stocks – the consumer and the pharmaceuticalbusinesses.

Meanwhile, the world’s biggest onlineshopping festival known as the 11.11 Singles Day event in China held byAlibaba, generated US $115.8 billion in sales during the 11-day campaign.

But that figure was 8.5% lower thanthe previous year, and was the lowest since the event began in 2009.

In other markets, the spot iron oreprice is up another 3.1% to $US89.69 a tonne, while oil prices fell 1%.

To cryptos, where Bitcoin is tradinglower US$64,000 at 8am AEDT, down from US$65,000 on Friday.

A future yield protocol that ApolloCapital has described as one of the most interesting projects in DeFi ismigrating from the congested and expensive Ethereum network to Avalanche,its cheaper and speedier competitor.

Read the rest of that story here on *.

ASX 200 to open loweron Monday

The ASX 200 looks set to open lowerthis morning, with futures markets (December contracts) pointing down by 0.1%at 8:30am AEDT.

Last week, the local index had apositive finish although it was in negative territory for the week.

And in case you missed it onStockhead last week, magnesium madness has taken hold and Latrobe Magnesium (ASX:LMG) is front and centre as investors pile into the sector. The LMG stock price rocketed 110% during the week.

On the IPO front, listing todayis Resilience Mining Mongolia (ASX:RM1), a gold and copperexplorer in Mongolia that raised $6m at 20c a share.

5 ASX small caps towatch today

Regional Express (ASX:REX)
Rex has today announced the launch of double-daily flights between Melbourneand Brisbane from next month. Brisbane becomes the fifth capital citydestination in the Rex domestic network, enabling the airline to take a majorstep towards realising its goal of servicing the so-called ‘Golden Triangle’(Sydney-Melbourne-Brisbane).

SRJ Tech (ASX:SRJ)
SRJ has made further progress with the development of its hydrogen compatiblepipe technology. The project kick-off has commenced with a detailed analysis ofthe future hydrogen market, the demand for leak sealing, mechanical connectors,isolation, repair and integrity solutions that can deal with the complexitiesof handling hydrogen.

Immutep(ASX:IMM)
The company has received a Chinese patent for its LAG-3 related immunotherapytreatments, following the corresponding European and US patents announced in2018 through to 2021.

Ardea Resources (ASX:ARL)
The company has provided an update to its Goongarrie Hub feasibility study,saying that the modelled leach feed grade is currently 1% Ni and 0.07% Co,reflecting the 0.8% Ni cut-off resource grade.

FarLimited (ASX:FAR)
Drilling has commenced on the Bambo-1 exploration well in BlockA2, offshore The Gambia. The Bambo-1 well is located approximately 85kmoffshore The Gambia, in 930 meters of water depth and is planned to be drilledto a depth of approximately 3,400 meters.