ASX Today: rise & shine – Dow rallies as oil hits $75 USD/BBL

ASX Today: rise & shine – Dow rallies as oil hits $75 USD/BBL

ASX Today: rise & shine – Dow rallies as oil hits $75 USD/BBL

Good morning!

Here is today’s morning wrap up:

US Exchange

The Dow Jones moved higher overnight with a +0.38% move or +131.02 points. The S&P 500 gained overnight, moving +0.52% or +22.44 points. Based on technology, the Nasdaq gained overnight, closing with a +0.13% gain or -+18.42 points.

US economic data:

According to Challenger, 20,476 jobs were lost in June (survey: 30,000). In May, construction spending decreased by 0.3 percent (survey: +0.4 percent). In June, the purchasing managers index (PMI) for manufacturing declined from 61.2 to 60.6. (survey: 61.0). In the last week, new claims for unemployment insurance (jobless claims) decreased from 415,000 to 364,000. (survey: 390,000).

  • Tesla (TSLA) moving -0.26% or -1.78 dollars,
  • Apple (AAPL) moving +0.23% or +0.31 dollars,
  • Amazon (AMZN) moving -0.21% or -7.19 dollars per share,
  • Microsoft (MSFT) moving +0.26% or +0.70 dollars per share.

Global oil prices

On Thursday, global oil prices increased. “OPEC+ members were leaning towards adding approximately 2 million barrels per day (bpd) to the oil market between August and December,” according to Reuters. This would mean an increase of 500,000 barrels per day on a monthly basis. Brent crude gained by US$1.22 per barrel, or 1.6 percent, to US$75.84. The price of oil on the New York Mercantile Exchange (NYMEX) increased by US$1.76 per barrel, or 2.4 percent, to US$75.23 per barrel.


ASX Today

This morning, the Australian stock market is projected to start Friday higher. The ASX 200 is predicted to open the day 25 points or 0.35 percent lower today, according to the latest SPI futures.

Previous Day ASX Wrap Up (LInk here)

The ASX 200 has closed at the day’s lows to begin the new month and financial year. The index dropped 47 points, or 0.65%, to 7265. Almost every sector ended in the red, with materials being the sole bright spot/

Today, 4.6 billion units worth $6.3 billion were exchanged, with 917 equities rising, 557 falling, and 295 remaining unchanged, seven of the top ten performers on the ASX 200 today were gold miners.


CryptoCurrency

Bitcoin: US$34,644.74 -3.99% in 24hrs (Taken from Coindesk data),
Ethereum: US$2,238.63 +2.05% in 24hrs (Taken from Coindesk data),
Dogecoin: US$0.248511 -6.60% in 24hrs (Taken from Coindesk data),


What stocks to watch today

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

Fremont Petroleum Corporation Limited ASX: FPL
Stonehorse Energy Limited ASX: SHE
Brookside Energy Limited ASX: BRK
88 Energy Limited ASX: 88E


Day trading Thread Now Open – July 2nd

Each trading day, we feature breakfast from around the world as we discuss which trading opportunities present themselves. Today we discover traditional Estonia’s food. Click here to post your thoughts.


Trading Halts

Companies listed below are currently in a trading halt and are expected to resume trading within the next few trading days:

Friday

NeuroScientific Biopharmaceuticals (ASX:NSB) – safety and toxicity study
Kinetiko (ASX:KKO) – capital raising
Arcadia Minerals (ASX:AM7) – response to AFR article
Aguia Resources (ASX:AGR) – legal proceedings
Novatti (ASX:NOV) – capital raising
AVZ Minerals (ASX:AVZ) – capital raising

Monday

Ragusa Minerals (ASX:RAS) – acquisitions
Sacgasco (ASX:SGC) – acquisition
Maas (ASX:MGH) – capital raising
Thorney Technologies (ASX:TEK) – capital raising


Commodities

CommodityLastOpenMov%Units
Brent Crude Oil 75.6176.11.33%USD/BBL
Crude Oil 75.0473.982.12%USD/BBL
Iron ore215.52170.23%USD/MT
Palladium2,758.762,637.10-0.77%USD/t oz
Coal129.37124.873.29%USD/MT
Uranium32.432.60.15%USD/LBS
Gold1,776.291,781.100.46%USD/t oz
Copper4.254.28-1.16%USD/t oz
Silver26.0326.1-0.19%USD/t oz
Nickel18,21218,424-0.79%USD/t oz
Data taken from IRESS

Other News

  • After ‘amazingly hopeful news,’ WA enters its final day of lockdown. – 9 News
  • Brisbane’s lockdown has been prolonged for another 24 hours, according to Annastacia Palaszczuk. – Guardian
  • ATAGI’s co-chair believes Scott Morrison’s AstraZeneca announcement for under-40s is still not recommended. – ABC
  • Queensland lockdown could potentially be extended. – News
  • As the state enters its first full day of lockdown, a Queensland healthcare worker spreads Covid-19. – News
  • Lockdown measures put in place in NSW, WA, NT and Queensland as COVID 19 cases grow across the nation. – SMH
  • COVID-19 Delta strain has been confirmed in a Brisbane hospital worker. – ABC
  • New coronavirus exposure locations in Sydney include Domino’s and 7-Eleven. News
  • As mask-wearing becomes mandatory in Queensland, two more local cases have been reported. – News
  • Coogee South Primary School has four children who have tested positive. – News
  • NSW bracing for more cases as Scott Morrison to call urgent cabinet meeting. – News
  • In China, Tesla is recalling roughly 300,000 cars due to a cruise control safety problem. – 9 News
  • Years before the building in Florida collapsed, an engineer voiced concerns about serious structural deterioration. – 9 News

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

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