ASX Today: rise & shine – US markets down as inflation fears arise

ASX Today: rise & shine – US markets down as inflation fears arise

ASX Today: rise & shine – US markets down as inflation fears arise

Good morning!

Here is today’s morning wrap up:

US Exchange

On Friday, US stock markets fell on fears that the US Federal Reserve may begin hiking interest rates sooner than predicted. President of the Federal Reserve Bank of St. Louis, James Bullard, believes that interest rate hikes in the United States will begin next year as inflation rises. The quarterly expiration of both US options and futures contracts added to the volatility.

Overnight the US markets took a beating. The Dow Jones slipped lower overnight with a -1.58% move or -533.370 points. The S&P 500 lost overnight, moving -1.31% or -55.410 points. Based on technology, the Nasdaq was down overnight, with a -0.92% loss or -130.974 points.

  • Tesla (TSLA) up overnight with a +1.09% gain or +6.71 dollars,
  • Apple (AAPL) down overnight with a -1.01% loss or -1.33 dollars,
  • Amazon (AMZN) down overnight with a -0.07% loss or -2.34 dollars per share,
  • Microsoft (MSFT) down overnight with a -0.56 loss or -1.47 dollars per share,

ASX Today

This morning, the Australian stock market is projected to start Monday lower. The ASX 200 is predicted to open the day 111 points or 1.52 percent lower, according to the latest SPI futures.

June 18h ASX Wrap Up (LInk here)

A wild ride on the ASX today, the S&P/ASX 200 opened lower and moved even lower to test 7334.90 before recovering to a close of 7368.900 with a +0.13% or 9.90 units. The Australian market followed the Wall Street tech rally, as popular stocks such as Afterpay and Megaport Limited rallied.


CryptoCurrency

Bitcoin: US$35,459.16 down -0.77% in 24hrs (Taken from Coindesk data),
Ethereum: US$2,247.98 up +2.56% in 24hrs (Taken from Coindesk data),
Dogecoin: US$0.280813 down -2.82% 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 clickhere.


Day trading Thread Now Open – June 21st

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

Variscan Mines (ASX:VAR) – capital raising
Resource Development Group (ASX:RDG) – ASX query
Immutep (ASX:IMM) – capital raising
BetMaker (ASX:BET) – acquisition
Coda Minerals (ASX:COD) – capital raising
Po Valley Energy (ASX:PVE) – capital raising

Tuesday

Admiralty Resources (ASX:ADY) – capital raising
Suda Pharmaceuticals (ASX:SUD) – capital raising
Montem Resources (ASX:MR1) – project report
Ragnar Metals (ASX:RAG) – exploration results
Strickland Metals (ASX:STK) – acquisition
Atrum Coal (ASX:ATU) – project report
TNT Mines (ASX:TIN) – exploration results
Silk Laser (ASX:SLA) – capital raising


Commodities

CommodityLastOpenMov%Units
Brent
Crude Oil 
73.1873.29-0.15%USD/BBL
Crude
Oil 
71.3871.64-0.36%USD/BBL
Iron ore217.5217.5-1.58%USD/MT
Palladium2,465.422,465.42-1.49%USD/t oz
Coal119.3119.30USD/MT
Uranium32.432.40USD/LBS
Gold1,764.211,764.21-0.64%USD/t oz
Copper4.124.12-1.67%USD/t oz
Silver25.7625.76-0.85%USD/t oz
Nickel17,12617,126-0.10%USD/t oz
Live data taken from IRESS

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Other News

  • As states tighten their borders, South Australia has joined Queensland in prohibiting visitors from Sydney’s Waverly Council. – 9 News
  • Dong Jingwei, a Chinese spy, ‘defects to the West while delivering Covid secrets.’ – News
  • The Premier has refused to rule out imposing additional limitations on NSW. – News
  • The UK is attacked by a ‘third covid wave,’ as the Delta type spreads throughout more than 80% of the country. – News
  • The NSW COVID outbreak has prompted a testing alert, with the Premier aiming for 40,000 swabs each day. – ABC
  • ‘No one can guarantee your money,’ says a crypto expert. – Yahoo

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

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