ASX Today: Rise & Shine, US Markets Recovers As Iron Ore Lowers
Happy Monday! Here is today’s morning wrap up:
US Exchange Overnight
Tech stocks rallying as the Nasdaq outperforms.
The Dow Jones rebounded overnight, regaining most of its losses with a +1.06% gain or +360.68 points, and the S&P 500 followed, gaining a total of +1.49% or +61.35 points overnight. The Nasdaq, Based on technology, recovered with a gain of +2.32% or +304.99 points. This may impact local tech stocks today. Visit our Live Tracker here.
- Alphabet (GOOGL), the parent company of Google, has set a new buy point,
- Apple (AAPL) has reclaimed a key benchmark,
- The leading blue-chip was American Express (AXP),
- Walt Disney (DIS) dived due to disappointing results.
ASX markets look set to start the week well after US markets performed well overnight.
Friday’s ASX recap
S&P/ASX 200 finished the day in the up +0.45% or +31.50 points.
What stocks to watch today
The stocks to watch out for today are yesterday’s best gainers; these are listed on our daily wrap-up of each trading day. For a wrap-up of the 14th of May, Gainers click here.
Trading Halts Today (Monday):
Horizon Minerals (HRZ.ASX) – acquisition
Alice Queen (AQX.ASX) – capital raising
Jatcorp (JAT.ASX) – product developments
Roots Sustainable Agricultural Technologies (ROO.ASX) – a new venture
Predictive Discovery (PDI.ASX) – capital raising
Brent Crude Oil
Brent crude oil up overnight by +2.79% percent to US$68.83 per barrel, according to live Commsec data.
Iron Ore prices decreased overnight with a -5.52% decline to a price of $205.50 (USD/MT), according to live Commsec data. Will this be the end of Iron Ore run? We will be closely monitoring for market recovery.
According to CNBC, gold-finished higher today to a price of $1,838.10 US per ounce. From its 52 week low of $1670.30 US, Gold has been able to recover nicely in 2021; however, will it ever reach its previous high of $2072.90 US?
Want to know if a company’s mining grades are high grade or low grade? Our handy trading spreadsheet is now available – click the image on the right.
According to Market Index, Copper down overnight to a price of $4.66 USD/lb dropping -0.58%. Copper has a total of 49.36% return in 1 year! We will shortly provide a link with all Copper stocks on the ASX.
Uranium prices remain the same with a price of $30.95 (USD/LBS), according to live Commsec data. The uranium stocks to keep on your watch list are:
- GTI Resources Limited (GTR.ASX)
- Thor Mining (THR.ASX)
- Alligator Energy Limited (AGE.ASX)
Silver closed to a price of $27.365 USD, according to CNBC.
- Bitcoin rises by 5.6% – Yahoo Finance.
- Netanyahu says Israel’s Gaza attacks will ‘continue in full force.’ – BBC News.
- In Sydney, masks are no longer needed on public transportation – 9 News.
That is this morning’s ASX wrap-up; as always, stay safe and happy trading.