ASX-Today-everything-you-need-to-know2

ASX Today – Rise & Shine Before The Morning Bell

Good morning!

Here is today’s morning wrap up:

US Exchange Overnight

The Dow Jones gained +0.29 percent or +97.31 points and the S&P 500 recovered with a gain of +0.07% or +2.93 points. However, the Nasdaq, which is based on technology, was out of sorts and fell a further -0.37% percent. This may have an effect on local tech stocks today. Pre-market activity today shows Dow Futures down -0.05%, S&P 500 Futures Down -0.08% and Nasdaq Futures down -0.12% according to CNN Business For live prices visit our Live Tracker here

ASX Today

ASX today, the Australian stock market is expected to rise once more. The ASX 200 is forecast to open the day 10 points or 0.15 percent higher, according to the latest SPI futures.

Trading Halts Today:

Mobilicom (MOB.ASX) – capital raising
Ardiden (ADV.ASX) – project update
MedAdvisor (MDR.ASX) – funding facility
Magnum Mining & Exploration (MGU.ASX) – capital raising

New Listings Alert


Global Lithium Resources Limited (GL1.ASX) – 6 May 2021 12:00 PM

Listing date6 May 2021 12:00 PM ##
Company contact detailshttps://globallithium.com.au/
Ph: + 61 8 9316 9100
Principal ActivitiesMineral exploration 
GICS industry groupTBA
Issue Price$0.20
Issue TypeOrdinary Fully Paid Shares
Security codeGL1
Capital to be Raised$9,000,000

Qmines Limited (QML.ASX)- 6 May 2021 11:00 AM

Listing date6 May 2021 11:00 AM ##
Company contact detailshttps://qmines.com.au/
Ph: 02 8915 6241
Principal ActivitiesMinerals Exploration
GICS industry groupTBA
Issue Price$0.30
Issue TypeOrdinary Fully Paid Shares
Security codeQML
Capital to be Raised$20,000,000

Upcoming float data 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

The spot gold price is up +0.13 percent to US$1,787.70 per ounce, according to CNBC. It seems this week investors are keen to enter Gold stocks with the recent activity on GBR and ODY, WCN and SRN.

Copper

Copper on the rise according to Market Index Copper remains close to its high with a price of 4.53 USD/lb having a total 48.74% return in 1 year!

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

WA Budget 2021

Frydenberg said, “Both the RBA and Treasury’s best estimate is that the unemployment rate will now need to have a four in front of it to deliver this outcome,” “We want more people in jobs and in better paying jobs.” Here is some of the things we know so far:

  • Childcare services boosted ($1.7 billion)
  • Tax breaks for breweries and distilleries ($250,000 in savings each year)
  • Deregulation package ($120 million)
  • Boost in aged care funding ( <$10 billion)
  • Upgrades to Northern Territory military bases ( $747 million)
  • Biosecurity package to keep out pests ($371 million)
  • Infrastructure boost to WA ($1.3 billion)
  • Disaster recovery agency
  • More tax cuts expected

Trump Facebook Ban Update

Facebook has upheld the ban across all social platforms, Trump outraged and has given 6 months to determine a “proportionate response”, Trump also claimed the decision was, “a total disgrace” and said the Facebook company would “pay a political price”.

Working From Home Tax

Most Australians are beginning to return to the office, However, several people continue to work from home, at least part-time, which raises some tax issues.

Assistant commissioner Tim Loh said, “even with people shifting back to the office, we know many Australians have opted to continue working from home at least one day a week,”

“The shortcut method is straight forward; just multiply the hours worked at home by 80 cents.” Mr Loh had said

You’ll need a record of how many hours you worked from home to use this tool and record it as a time sheet.

Workers can claim 52 cents per work hour for the cost of heating, cooling, washing, and lighting a dedicated work space, as well as the depreciation in the value of items like furniture. Then, taxpayers will figure out phone and internet costs, as well as stationery and the depreciation of things like computers.

That is today’s afternoon ASX wrap up as always safe and happy trading

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