ASX Today: rise & shine – US markets overlook inflation report as market rallies overnight
Here is today’s morning wrap up:
The Dow Jones moved higher overnight with a +0.055% move or +19.10 points. The S&P 500 followed with a gain overnight, moving +0.47% or +19.63 points. Based on technology, the Nasdaq was up overnight, with a +0.78% gain or +108.58 points. However, as initial unemployment claims touched a historic low, consumer inflation in the United States reached its highest level since 2008, showing signs investors gave the report the cold shoulder.
Some economic figures:
- Initial unemployment claims in the United States are at their lowest level since March 2020.
- In May, the CPI in the US increased to 5.0 percent.
- Consumer prices increased by 0.6% month over month.
- Core inflation increased by 3.8 percent year over year, the highest rate since 1992.
- Prices for energy and used cars have risen since last year.
- Tesla (TSLA) up overnight with a +1.89% gain or +11.34 dollar,
- Apple (AAPL) Shares down overnight with a -0.80% loss or -1.02 dollars,
- Amazon (AMZN) up overnight with a +2.09% gain or +68.50 dollars per share,
- Microsoft (MSFT) up overnight with a +1.44% gain or +3.65 dollars per share,
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This morning, the Australian stock market is projected to start Friday slightly higher. The ASX 200 is predicted to open the day 1 point or 0.01 percent higher, according to the latest SPI futures.
June 11th ASX Wrap Up (LInk here)
Today marks a significant day as the S&P/ASX 200 closed highest it has ever closed with a +0.44% gain or +32.30 points. Closing the day at 7,302.50, previously the highest close was in 2019, closing at 6,684.075.
Traders with a case of FOMO switch from Bitcoin to Meme Stocks. – Coindesk
Bitcoin: US$36,988.42 up +0.39% in 24hrs (Taken from Coindesk data),
Ethereum: US$2,488.69 down -4.65% in 24hrs (Taken from Coindesk data),
Dogecoin: US$0.329745 down -5.04% in 24hrs (Taken from Coindesk data),
Cardano: US$1.56 down -3.39% in 24hrs (Taken from Coindesk data).
Stellar: US$0.339211 down -5.09% in 24hrs (Taken from Coindesk data).
What stocks to watch today
Day trading Thread Now Open – June 11th
Each trading day, we feature breakfast from around the world as we discuss which trading opportunities present themselves. Today we discover a traditional Latvian breakfast. Click here to post your thoughts.
Companies listed below are currently in a trading halt and are expected to resume trading within the next few trading days:
Mandrake Resources (MAN.ASX) – capital raising
Andromeda Metals (ADN.ASX) – market update
Mighty Craft (MCL.ASX) – capital raising
Minotaur Exploration (MEP.ASX) – market update
Cashwerkz (CWZ.ASX) – capital raising
Leigh Creek Energy (LCK.ASX) – capital raising
Cobalt Blue (COB.ASX) – fundraising agreement
WT Financial Group (WTL.ASX) – capital raising and acquisition
Magnum Mining and Exploration (MGU.ASX) – off-take agreement
Metalicity (MCT.ASX) – capital raising
Aeris Resources (AIS.ASX) – capital raising
Argonaut Resources (ARE.ASX) – capital raising
Global Health (GLH.ASX) – capital raising
- Brent Crude Oil up +0.32% to a total of $72.24 USD/BBL (Taken from IRESS data).
- Crude Oil up +0.52% to a total of $70.05 USD/BBL (Taken from IRESS data).
- Iron Ore price up +1.9% to a total of $214 (USD/MT) (Taken from IRESS data).
- Palladium price down -0.09% to a total of $2,776.12(USD/t oz) (Taken from IRESS data).
- Coal up +3.69% to a total of $119 (USD/MT) (Taken from IRESS data).
- Uranium up +0.31% today, to a price of $32.3 (USD/LBS)(Taken from IRESS data).
- Gold on the ASX Market Wrap up, Gold increased +0.5% to a price of $1,897.88 (Taken from IRESS data).
- Copper down -1.1% to a price of $4.49 (USD/lb)(Taken from IRESS data).
- Silver up +0.68% to a price of $27.99 (USD/t)(Taken from IRESS data).
- Nickel up +1.08% to a price of $18,106.25 (USD/MT)(Taken from IRESS data).
- To Keep up with the latest news and Commodity Prices, make sure to check out our News Ticker Here.
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- The Delta variation has been related to gangrene and hearing loss symptoms. – News
- Police in Melbourne will question an infected Melbourne couple about their road trip. – News
- Australia and Singapore have agreed to collaborate on developing a ‘safe and calibrated’ travel bubble. – ABC
- A woman’s death in NSW was most likely caused by an AstraZeneca vaccine. – News
- A Victorian man was discovered dead in floodwaters. – News
- The US will provide 500 million COVID-19 vaccine doses to assist other nations. – Aljazeera
- All crypto miners in China’s Qinghai Province have been ordered to shut down. – Coin Desk
- Bitcoin’s bad run isn’t done yet, as prices continue to plummet. – 9 News
- ‘No one can guarantee your money,’ says a crypto expert. – Yahoo
- 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.
Want something added to the rise & shine? Leave a comment below.
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