ASX Today rise & shine – Treasury yields fall, driving Dow Jones futures tumbling

ASX Today: rise & shine – Treasury yields fall, driving Dow Jones futures tumbling

ASX Today: rise & shine – Treasury yields fall, driving Dow Jones futures tumbling

Good morning!

Here is today’s morning wrap up:

US Exchange

On Thursday, US stock markets fell from record highs as investors worried that the spread of Covid-19 variations could derail the global economic recovery. Shares of Goldman Sachs (-2.4%) and JPMorgan Chase (-1.78%) both declined.

The Dow Jones moved lower Thursday with a -0.75% move or -259.86 points. The S&P 500 also, moving -0.86% or -37.31 points. Based on technology, the Nasdaq followed overnight, closing with a -0.72% loss or -105.28 points.

US treasury yields

On Thursday, 10-year rates fell to 1.25 percent, their lowest level since February 16, as market concerns grew that the best part of the economic recovery may be over. The yield on the 10-year US Treasury note fell 3 basis points to approximately 1.29 percent. In addition, US 2-year rates dropped 2 basis points to about 0.195 percent.


ASX Today

This morning, the Australian stock market is projected to start Friday Lower. The ASX 200 is predicted to open the day 48 points or 0.66 percent lower today, according to the latest SPI futures.

Previous Day ASX Wrap Up (LInk here)

Today marks the second day of gains on the ASX. The S&P/ASX200 finished the day up 0.20% or +14.50 points closing at 7341.400 well below the intraday high of 7381.900. Tech stocks were the most popular with Zip Co Limited (Z1P.ASX) surging 13.73% today alone, collectively the Information Technology sector rose 1.25%. In second place Consumer Staples sector rose 1.05% with Woolworths (WOW.ASX) moving 1.74% 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.


CryptoCurrency

Bitcoin: US$32,894.01 -3.94% in 24hrs (Taken from Coindesk data),
Ethereum: US$2,136.79 -8.89% in 24hrs (Taken from Coindesk data),
Dogecoin: US$0.210091 -8.80% in 24hrs (Taken from Coindesk data),


Day trading Thread Now Open – July 9th

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

Crater Gold Mining (ASX:CGN) – acquisition

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


Commodities

CommodityLastOpenMov%Units
Brent Crude Oil 74.3376.031.17%USD/BBL
Crude Oil 73.2275.091.41%USD/BBL
Iron ore222.52180.23%USD/MT
Palladium2,804.682,785.54-1.90%USD/t oz
Coal136134.083.24%USD/MT
Uranium32.632.5-0.31%USD/LBS
Gold1,802.561,787.37-0.06%USD/t oz
Copper4.284.28-0.93%USD/t oz
Silver25.9326.45-0.80%USD/t oz
Nickel18,28918,103.501.72%USD/t oz
Data taken from IRESS

Other 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
  • As south-west Sydney confronts stricter restrictions, NSW is bracing for a surge in cases. – News
  • The United States and European governments have condemned Iran’s decision to produce uranium metal. – Ajazeera
  • In Israel, a Pfizer vaccination has been found to prevent serious sickness as Delta cases spread. – News
  • The lockdown in Greater Sydney will be prolonged until July 16th. – News
  • Mum died after becoming ‘trapped’ inside a charity clothing bin in a shopping centre parking lot. – News
  • A new fast spreading Covid strain has hit Australia. – News
  • Despite pressure on the state government to lift restrictions, experts believe the Sydney lockdown may need to be extended. – News
  • Australia has paid AstraZeneca hundreds of millions of dollars for COVID-19 vaccinations. However, the agreement is a ‘national security’ secret. – ABC
  • A deal has been made to liberate a ship that had been blocking the Suez Canal. – 9 News

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

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