ASX Today: rise & shine – inflation drives fears overnight

ASX Today: rise & shine – inflation drives fears overnight

ASX Today: rise & shine – inflation drives fears overnight

Good morning!

Here is today’s morning wrap up:

US Exchange

The Dow Jones moved lower with a -0.067% move or -23.34 points, and the S&P 500 declined overnight with a -0.36% loss or -15.27 points. The Nasdaq, Based on technology, also down overnight with a -1.03% loss or -141.82 points. This marks a volatile trading day as strong US economic data reemphasised inflation fears. Post your thought on our new DB Stock Forum – Sign up free here.

  • Tesla (TSLA) down overnight with a -5.33% loss or -32.28 dollar,
  • Apple (AAPL) Shares down overnight with a -1.22% loss or -1.52 dollars,
  • Amazon (AMZN) down overnight with a -1.45% loss or -46.98 dollars per share,
  • Microsoft (MSFT) down overnight with a -0.64% loss or -1.59 dollars per share,

ASX Today

As Wall Street stumbles across the finish line, the local market is set to open flat today. After iron ore rose again overnight, all eyes are on mining stocks.

June 3rd ASX Wrap Up (LInk here)

The S&P/ASX 200 closed the day just under its new all-time high with a +0.59% lift or +42.30 points; today marks a higher high. The XJO experienced a high of 7281.80 before closing to a value of 7260.100, higher than yesterdays close of 7217.80. The energy sector soared, with the XEJ experiencing a +3.27% lift today.


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.


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Trading Halts

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

Friday

Nova Minerals Ltd (NVA.ASX) – resource update
Straker Translation (STG.ASX) – capital raising
Castillo Copper (CCZ.ASX) – capital raising
Straker Translations Ltd (STG.ASX) – equity raising

Monday

Neometals (NMT.ASX) – project update
Bryah Resources (BYH.ASX) – capital raising
CZR Resources (CZR.ASX) – capital raising
Riedel Resources (RIE.ASX) – capital raising
1414 Degrees (14D.ASX) – management update
Australian Pacific Coal (AQC.ASX) – modification application
IXUP (IXU.ASX) – acquisition


Commodities

  • Brent Crude Oil up +0.08% to a total of $71.30 USD/BBL (Taken from IRESS data).
  • Crude Oil up +0.19% to a total of $68.84 USD/BBL (Taken from IRESS data).
  • Iron Ore price remains the same at $207.5 (USD/MT) (Taken from IRESS data).
  • Palladium down -0.34% to a total of $2,843.89 (USD/t oz) (Taken from IRESS data).
  • Coal down -1.18% to a total of $109.25 (USD/MT) (Taken from IRESS data).
  • Uranium up +0.16% today, to a price of $31.50 (USD/LBS)(Taken from IRESS data).
  • Gold on the ASX Market Wrap up, Gold decreased -1.94% to a price of $1,871.26 (Taken from IRESS data).
  • Copper down -2.82% closing to a price of $4.48 (USD/lb)(Taken from IRESS data).
  • Silver down -2.82% to a price of $27.45 (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.

CryptoCurrency

Bitcoin positive this week as the popular cryptocurrency tries to recover, here are the latest prices:

Bitcoin: US$38,914.75 up +4.10% in 24hrs (Taken from Coindesk data),
Ethereum: US$2,836.94 up +5.80% in 24hrs (Taken from Coindesk data),
Dogecoin: US$0.401872 down -3.53% in 24hrs (Taken from Coindesk data),
Cardano: US$1.84 up +6.15% in 24hrs (Taken from Coindesk data).
Stellar: US$0.422809 up +1.14% in 24hrs (Taken from Coindesk data).


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Other News

  • According to the Department of Health in Victoria, there have been eight transmission reports by casual contact in Melbourne. –ABC
  • Since the outbreak of the pandemic, the first cruise ship has sailed through Venice. – 9 News
  • The Prime Minister will today announce money for a quarantine facility in Victoria. – 9 News
  • Donald Trump has demanded that China “pay $10 trillion” for its handling of COVID. – News
  • The federal government backs Victorian proposal for a purpose-built coronavirus quarantine hub. – ABC
  • Greater Melbourne workers are eligible for Commonwealth payments. – ABC
  • ‘No one can guarantee your money,’ says a crypto expert. – Yahoo
  • After less than a month, Donald Trump’s blog is shut down. – 9 News
  • A woman has been arrested in connection with a ‘deliberately lit’ fire in Adelaide’s CBD, which injured five people. – 7 News
  • During the pandemic, Australians working from home should be aware of the risk of cancer. – 7 News
  • Residents in Melbourne have been warned to expect weeks of restrictions after the lockdown lifts. – 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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