ASX Today: rise & shine – rebound in US markets gives investors confidence

ASX Today: rise & shine – rebound in US markets helps investors gain confidence

ASX Today: rise & shine – rebound in US markets helps investors gain confidence

Good morning!

Here is today’s morning wrap up:

US Exchange

Investors regained faith in the global growth prospects on Friday, causing the stock market to rise. Bank of America (+3.3%), Goldman Sachs (+3.6%), and JPMorgan (+3.2%) led a rally in financial stocks ahead of the June quarter earnings announcements. General Motors stock rose 4.8 percent after Wedbush Securities recommended it as a buy. Levi Strauss’ stock rose 1.4 percent as the company forecasted a solid full-year profit.

The Dow Jones moved higher Friday with a +1.30% move or +448.23 points. The S&P 500 also, moving +1.13% or +48.73 points. Based on technology, the Nasdaq followed overnight, closing with a +0.98% gain or +142.13 points.


ASX Today

This morning, the Australian stock market is projected to start Monday higher. The ASX 200 is predicted to open the day 75 points or 1.04 percent higher today, according to the latest SPI futures.

Previous Day ASX Wrap Up (LInk here)

In the last hours of trading, the Aussie market staged a recovery, although, on the closing bell, the ASX finished 68.1pts or 0.93% lower to 7273.30, a slight bounce recovery from the low of 7226.00. Today, most sectors in the red, apart from the energy sector, managed to close in the green with the XEJ moving +0.08%, paying particular attention to Viva Energy Group Limited (VEA.ASX) biggest gainer moving 5.08% close on an operations update announcement.


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.


CryptoCurrency

Bitcoin: US$34,469.73 +3.12% in 24hrs (Taken from Coindesk data),
Ethereum: US$2,165.71 +2.84% in 24hrs (Taken from Coindesk data),
Dogecoin: US$0.217326 +2.45% in 24hrs (Taken from Coindesk data),


Day trading Thread Now Open – July 12th

Each trading day, we feature breakfast from around the world as we discuss which trading opportunities present themselves. Today we discover traditional Somalia’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:

Monday

Food Revolution Group (ASX:FOD) – management change
Talon Energy (ASX:TPD) – project update
Rural Funds (ASX:RFF) – capital raising
KneoMedia (ASX:KNM) – capital raising
Okapi Resources (ASX:OKR) – capital raising
BMG Resources (ASX:BMG) – capital raising
Sayona Mining (ASX:SYA) – capital raising

Tuesday

Elsight (ASX:ELS) – distribution agreement


Commodities

CommodityLastOpenMov%Units
Brent Crude Oil 75.5775.571.63%USD/BBL
Crude Oil 74.674.62-0.03%USD/BBL
Iron ore219219-1.57%USD/MT
Palladium2,809.342,809.340.47%USD/t oz
Coal136.73136.730.54%USD/MT
Uranium32.632.60USD/LBS
Gold1,808.111,808.110.23%USD/t oz
Copper4.354.351.64%USD/t oz
Silver26.0826.080.58%USD/t oz
Nickel18,322.5018,322.500.18%USD/t oz
Data taken from IRESS

Other News

  • Richard Branson’s Virgin Galactic test flight has successfully launched into space. – ABC
  • The Taliban claim to rule 85 percent of Afghanistan, sparking a refugee exodus. – ABC
  • After a wet weekend in Perth, expect more violent storms. – 9 News
  • The number of Covid-19 cases in NSW is anticipated to reach 100 today. – News
  • Heavy rain is expected to continue over the weekend in NSW. – 9 News
  • Employers will search the online histories of more than two million Australians. – News
  • NSW is considering allowing Delta to roam freely in the community. News
  • On Friday, NSW Police will undertake a large operation in south-western Sydney to ensure that public health orders are followed. – ABC
  • During the third week of Sydney’s lockdown, more people will get a $500 assistance payment. – News

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

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