Happy Friday and here is today’s morning wrap up:
US Exchange Overnight
The Dow Jones gained +0.93% or +318.19 points and the S&P 500 recovered with a gain of +0.82% or +34.03 points. The Nasdaq, which is based on technology, recovered overnight with a gain of +0.37% or +50.42 points. This may have a positive effect on local tech stocks today. For live prices visit our Live Tracker here
ASX today, the Australian stock market is expected to open higher today given the performance the US markets had overnight. The Australian stock market dropped 0.48 percent yesterday, weighed down by increased China tensions and renewed COVID fears in Sydney.
In a significant escalation of tensions between the two countries, China will “indefinitely suspend” its economic dialogue with Australia.
The China-Australia Strategic Economic Dialogue mechanism has been suspended, according to the Chinese National Development and Reform Commission, which blames Australia
In the statement on Thursday It said that Australian government officials had harmed bilateral talks and were stuck in a “Cold War mentality,” accusing the government of “ideological discrimination.”
What stocks to watch today
The stocks to watch out for today are yesterdays best gainers, these are listed on our daily wrap up of each trading day. For a wrap up of 6th of May Gainers click here
Trading Halts Today:
Fonterra (FSF.ASX) – capital structure change
Oventus Medical (OVN.ASX) – capital raising
Kinetiko Energy (KKO.ASX) – acquisition
New Listings Alert
Nickelx Limited (NKL.ASX) – 7 May 2021 11:30AM AEST
|Listing date||7 May 2021 11:30AM AEST ##|
|Company contact details||https://www.nickelxlimited.com/|
Ph: (08) 9322 7600
|Principal Activities||Mineral exploration and development|
|GICS industry group||TBA|
|Issue Type||Ordinary Fully Paid Shares|
|Capital to be Raised||$5,00,000|
Table taken from https://www2.asx.com.au/listings/upcoming-floats-and-listings
Brent Crude OIl
Brent crude oil is down -1.3% percent to US$68.56 per barrel, according to commsec data.
Gold soared over night and gained +1.16% or +20.76 points to a price of $1,806.41 US per ounce, according to CNBC. From its 52 week low of $1670.30 US Gold has been able to recover nicely in 2021, however will it ever reach its previous high of $2072.90 US.
Copper on the rise according to Market Index Copper moved higher with a price of 4.60 USD/lb having a total 49.27% return in 1 year!
Uranium prices dropped -1.13% to a 30.55 (USD/LBS) yesterday despite uranium stocks gaining excellent momentum. We will be keeping an eye on this commodity as it finally gets noticed.
That is today’s afternoon ASX wrap up as always safe and happy trading
- Subscribe to our daily newsletter
- Join our Facebook community
- Follow us on Instagram or Twitter
- YouTube videos coming shortly subscribe to our channel