Australia's largest stock trading and investment forum Australia's #1 stock forum

HLS worth a look imo

First 15 Last

Share
Profile

Follow
slips

10,798 Posts.

34

19/06/24

09:22

Post #: 74382376
Share
Originally posted by highlandlad: ↑

Morning traders. Thanks loungers, especially @Ravgnome.

Outlook for the day: Mildly negative following strong gains yesterday and modest gains on Wall Street ahead of a market holiday tonight.

ASX futures: down 8 points or 0.1%

Overnight themes:
US stocks edged to fresh heights in tepid pre-holiday trade as a record for Nvidia helped offset disappointing retail sales.
The S&P 500 gained 0.25% as AI chip-maker Nvidia overhauled Microsoft as the US's most valuable company.
The Nasdaq inched up 0.03%, joining the S&P 500 at a new closing high. The Dow firmed 0.15%.
Nvidia overtook Microsoft with a rise of 3.51% to expand its market cap to US$3.22 trillion. The chip-maker has gained 174% so far this year. Other semiconductor stocks also rose, lifting the Philadelphia SE Semiconductor Index to an all-time high.
The odds on two interest rate cuts this year rose after retail sales expanded an anaemic 0.1% last month, well short of the 0.3% growth forecast by economists. Adding to worries about the health of the consumer, April data was revised down to a 0.2% contraction in sales. March figures were also revised lower.
"Maybe households aren't quite as impervious to higher interest rates as we were beginning to believe... We don't expect a full-blown slump in consumption but, at the margin, even a modest slowdown in consumption growth and consequently GDP growth too could be enough to tip a finely balanced Fed in favor of a rate cut in September" - Paul Ashworth, chief North America economist at Capital Economics (per Reuters).
Economic worries were partly alleviated by positive news on manufacturing. Output increased 0.9% last month, reversing a 0.4% decline in April.
Financial stocks and tech companies offered the night's best returns. The financial sector gained 0.64%, tech 0.61% and industrials 0.55%.
The night's drags included three sectors: communication services -0.77%, consumer discretionary -0.42% and materials -0.12%.
Oil climbed to its highest since late April as buyers looked ahead to the US holiday driving season. Brent crude rallied US$1.08 or 1.28% to US$85.33 a barrel.
Iron ore fluctuated before inching up 0.24% in daytime trade in China. Price action was choppy following reports of authorities in Fujian holding meetings with steel-makers to discuss production caps relating to emissions.
Copper bounced off a two-month low as the US dollar reacted to soft retail sales data. Benchmark copper gained 0.55% in London.

Key events today:
US markets closed tonight (Juneteenth public holiday)

S&P 500: up 14 points or 0.25%

Dow: up 57 points or 0.15%

Nasdaq: up 5 points or 0.03%

Dollar: up 0.58% to 66.56 US cents

Iron ore (Dalian): up 0.24% to US$113.11

Brent crude: up US$1.08 or 1.28% to US$85.33

Natural gas (US futures): up 4.14% to US$2.90

Gold: US$17.90 or 0.77% to US$2,346.90

Silver: up 4 US cents or 0.15% to US$29.54

NYSE Arca Gold Bugs: up 1.5%

Bitcoin: down 2.17% to US$64,940

Copper (LME): up 0.55% to US$9,719

Nickel (LME): down 0.46% to US$17,350

Uranium (spot price): up 0.58% to US$87

Lithium carbonate (China spot): down 0.31% to US$13,368

Global X Lithium & Battery Tech ETF: up 0.44%

BHP: up 0.73% (US); up 0.86% (UK)

Rio Tinto: up 0.41% (US); up 0.52% (UK)

Expand

HLS worth a look imo
1 Upvote

Reply

Top Stories

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Microcap Wrap: 5 explorers with news out today

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

RCE

Recce's R327 found effective against E.coli during clinical trial

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

There are more pages in this discussion • 16 more messages in this thread...

First 15 Last

SPONSORED BY