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

SYR may need a bit more time AIS taking shape EML worth a look...

First 9 Last

Share
Profile

Follow
slips

11,002 Posts.

36

12/03/24

09:02

Post #: 72849340
Share
Originally posted by highlandlad: ↑

Morning traders. Thanks loungers, especially @Ravgnome.

Outlook for the day: Cautiously positive as US stocks finish mixed and the ASX 200 looks to rebound from its worst session in more than a year.

ASX futures: up 5 points or 0.06%

Overnight themes:
Wall Street's main indices end mixed ahead of inflation data tonight that will throw light on the likely timing of interest rate cuts this year.
The Dow edges to a gain of 0.1% as selling pressure on high-flying tech stocks steers investors towards traditional havens, including blue-chips. Gains in UnitedHealth, Intel and Nike help offset a 3.02% slide in Boeing following news of a criminal investigation into a cabin blowout in January.
The S&P 500 declines for a second session as a rally in AI chip-makers stutters. Nvidia drops 2%. The Philadelphia Semiconductor Index retreats 1.36% from last week's record close. Other drags on the Nasdaq include Meta, AMD and Amazon.
Tonight's February Consumer Price Index is expected to show a monthly increase of 0.4% and an annual rise of 3.1%. Investors have grown cautious in recent months amid speculation that inflation could reignite as attacks on Red Sea shipping add to supply-chain costs.
"There's certainly a camp out there saying we're going to have renewed inflation - or there's a good possibility of that - and then there's certainly a camp that says we're going to have deflation, and that will allow the Fed to lower rates. It's always tricky" - Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder (per Reuters).
Strong economic data in recent months have prompted analysts to push back the likely start of the rate-cutting cycle. The US Federal Reserve meets next week, but its not expected to change monetary policy settings.
Resource stocks outperform in the US. The materials sector gains 1.13%. Energy puts on 1%. Also positive are consumer staples, utilities and financials. The night's biggest drags are industrials (Boeing) -0.53%, real estate -0.49% and consumer discretionary -0.49%.
Iron ore tumbles to a four-month low as reports of a supply glut in China undermine prices. Data last week showed inventories at major ports increasing at the same time as hot-metal production was declining. China-traded ore skids 5.41% to its lowest since October 23.
Oil and base metals shrug off weakness during yesterday's ASX trading session, turning higher overnight in UK trade. Brent crude edges up 0.16%. Copper, nickel and other industrial metals rally on the London Metal Exchange. Stainless steel prices climb to the highest since November as a recovery in the price of nickel continues.
Battery metal miners rally in the US. The Global X Lithium & Battery ETF jumps 4.02% to its highest in a week.

Key events today:
Business confidence - 11.30 am AEDT
US inflation (CPI) - tonight

S&P 500: down 6 points or 0.1%

Dow: up 47 points or 0.1%

Nasdaq: down 66 points or 0.41%

Dollar: down 0.18% to 66.13 US cents

Iron ore (Dalian): down 5.41% to US$115.68

Brent crude: up 13 US cents or 0.16% to US$82.21

Gold: up US$3.10 or 0.1% to US$2,188.60

NYSE Arca Gold Bugs: up 2.51%

Bitcoin: up 3.98% to US$72,297

Copper (LME): up 0.87% to US$8,654

Nickel (LME): up 1.58% to US$18,275

Uranium (spot price): steady at US$92.50

Lithium carbonate (China spot): up 0.4% to US$15,186

Global X Lithium & Battery Tech ETF: up 4.37%

BHP: down 2.04% (US); down 1.92% (UK)

Rio Tinto: down 1.1% (US); down 1.23% (UK)

Expand

SYR may need a bit more time AIS taking shape EML worth a look imo
2 Upvote

Reply

Top Stories

SFR

Sandfire's latest drill run extends known polymetal mineralisation at the Sesmarias Prospect

Week 38 Wrap: US markets panic at 50bp cut; ALS’s minerals revenue slowdown; RBA path unclear

ASX Market Open: Aussie stocks follow US surge after Fed rate cut decision | September 20, 2024

FTL

Firetail executive changes set to propel development in Canada and Peru

GRE

Drilling shows continuous Cu mineralisation at Whundo for Greentech

CTN

Catalina Resources kicks off aircore drilling at Laverton project on the hunt for gold, REEs

HVN

Harvey Norman hit with a second class action – and shareholders, once again, don't care

WSR

Westar wraps up field campaign at Mindoolah after divesting non-core assets ahead of 2025

DVP

Develop Global appoints GR to get Woodlawn copper-zinc plant online mid-2025

TMS

Tennant Minerals clocks high-grade gold, copper hits at Bluebird in the NT

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

First 9 Last