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ASX Today: Rise & Shine – ASX to strengthen following tech rally in the US

ASX Today: Rise & Shine – ASX to strengthen following tech rally in the US

Good morning!

Here is today’s morning wrap up:

US Exchange Overnight

As volatility on cryptocurrency markets subsided, US stocks rose for the first time in three sessions. Likewise, as government yields fell, technology stocks outperformed.

The Dow Jones gained +0.55% or +188.11 points and the S&P 500 followed, by gaining +1.06% or +43.44 points overnight. The Nasdaq, Based on technology, rallied overnight gaining +1.77% or +236 points. This may impact local tech stocks today. Visit our Live Tracker here.

  • Tesla (TSLA) rebounded with a +4.14% or +23.32 dollars gain,
  • Apple (AAPL) Shares gained overnight with a +2.10% drop or +2.62 dollars,
  • Walt Disney (DIS) rebounded overnight, up 1.23% or +2.09 dollars.

ASX Today

After Wall Street ended a three-day losing streak, and the tech stocks the local ASX market is expected to open higher this morning.

Yesterday’s ASX recap (LInk here)

S&P/ASX 200 bounced today gaining +1.27% or +87.90 points as crypto currency follows.

What stocks to watch today

The stocks to watch out for today are yesterday’s best gainers; these are listed on our daily wrap-up of each trading day. For a wrap-up of the 20th of May, Gainers click here.

Trading Halts Today (Friday):

Toro Energy (TOE.ASX) – capital raising
Encounter Resources (ENR.ASX) – option agreement update
Equus Mining (EQE.ASX) – capital raising

Commodities

  • Brent Crude Oil down -2.77% to a total of $65.10 USD/BBL (Taken from IRESS data).
  • Iron Ore down overnight to a price of $210.50(USD/MT) and a -2.77% move (Taken from IRESS data).
  • Uranium price remaining the same to a total of $31 (USD/LBS) (Taken from IRESS data).
  • Gold on the ASX Market Wrap up Gold experienced an increase of +0.47% to a price of $1877.42 (Taken from IRESS data).
  • Copper down again -0.44% to a price of $4.55 (USD/lb)(Taken from IRESS data).
  • Silver up overnight with a +0.51% move to a price of $27.76 (USD/t)(Taken from IRESS data).
  • To Keep up with the latest news and Commodity Prices, make sure to check out our News Ticker Here.

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CryptoCurrency

Panic selling ensued as a result of China’s crypto crackdown. Bitcoin dropped as low as US$30,445 after reaching an all-time peak above US$64,000 last month. The digital token has since then recovered reaching a high of US$42500.85 and retreating to high US$30000’s

Bitcoin: US$39827.36 up +1.26%.
Dogecoin: US$0.39230 up +7.12%.
Ethereum: US$2735.26 up +2.28%.

Other News

  • Following China’s tough shift, major cryptocurrencies have taken a fall. – News
  • Experts predict additional losses for Qantas as the airline struggles to cope with the COVID-19 outbreak. – News
  • After 11 days of the war, Israel and Hamas have agreed to call a ceasefire in Gaza. – News
  • A math instructor in Idaho disarmed and hugged a student who had brought a gun to school and had shot three people. – ABC News
  • A fire breaks out in a shop in Kensington, prompting smoke advisories for Docklands, North Melbourne, and Footscray. – 7 News
  • Our Facebook group has grown substantially! Don’t miss a thing. Join the FREE group here.

That is this morning’s ASX wrap-up; as always, stay safe and happy trading.

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