Here is today’s morning wrap up
US Exchange Overnight
The Dow Jones gained +0.06 percent or 19.80 points and the S&P 500 fell -0.67% or 28 points. However, the Nasdaq, which is based on technology, was out of sorts and fell a further -1.88% percent. This may have an effect on local tech stocks today. Pre-market activity today shows Dow Futures down -0.01%, S&P 500 Futures Down -0.03% and Nasdaq Futures down -0.13% according to CNN Business For live prices visit our Live Tracker here
The ASX Today is expected to have a difficult trading day. The ASX 200 is forecast to open 24 points, or 0.35 percent, lower this morning, according to the latest SPI futures.
Trading Halts Today:
Octanex (OXX.ASX) – capital raising
Race Oncology (RAC.ASX) – capital raising
Total Brain (TTB.ASX) – commercial contract
Clean Seas Seafood (CSS.ASX) – capital raising
Carbonxt (CG1.ASX) – capital raising
Surefire Resources (SRN.ASX) – drilling results
New World Resources (NWC.ASX) – capital raising
Black Cat Syndicate (BC8.ASX) – capital raising
Brent Crude OIl
Brent crude oil is up +2.45% percent to US$69.42 per barrel, according to commsec data.
The spot gold price is up +0.12 percent to US$1,778.10 per ounce, according to CNBC. It seems this week investors are keen to enter some Gold stocks with the recent activity on GBR and ODY yesterday.
Copper on the rise according to Market Index Copper has gained a +0.65% or 0.03 points to a total of 4.55 USD/lb having a total 49.47% return in 1 year!
Hungry For Iron Ore
Despite tensions between the two countries, China’s appetite for Australian iron ore shows no signs of abating. Last week, global prices for the critical steel-making mineral hit an all-time high of $US194.50 ($250.80) per tonne. Since the beginning of the year, the spot price of iron ore has increased by 21%, and by 130% in the last month.
Hydrogen is Hot
Australia announced that it had awarded A$103 million ($80 million) to three “green” hydrogen ventures, nearly tripling its expected funding as the government tries to speed up commercial development of the gas using renewable resources. The Australian Renewable Energy Agency has chosen three projects that will use 10 megawatt electrolysers to break water using renewable energy. For a list of Hydrogen Energy Stocks visit our ‘Hydrogen is Hot’ Blog post
Jetstar has launched a return for free sale! Customers are able to fly from Sydney to Melbourne for less than $60, it is the latest deal offered in the competitive aviation industry. To book or find out more information head to the ‘Jetstar Website’
Westpac Face Delays
Despite attempts to enhance the process, Westpac customers are still facing lengthy delays in getting home loan approvals, with self-employed borrowers having to wait up to 36 days.
The bank has struggled in the first quarter of this year, with a 40% increase in applications, putting further strain on a system already strained by the closure of an offshore processing facility last year.
Former US President Donald Trump has set up a section on his website where he can post messages that can be posted on social media platforms such as Twitter and Facebook, where he is also barred. The launch on Tuesday comes just one day before Facebook Inc’s oversight board decides if Trump’s indefinite suspension from the site should be upheld.
That is today’s morning ASX wrap up as always safe and happy trading
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