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ASX Today: Rise & Shine, Wall Street Selloff ASX To Open Lower

ASX Today: Rise & Shine, Wall Street Selloff ASX To Open Lower

Good morning!

Happy Thursday, and here is today’s morning wrap up:

US Exchange Overnight

The Dow Jones lost a further -1.99% or -681.50 points overnight, and the S&P 500 followed, losing a total of -2.14% or -89.06 points overnight. The Nasdaq, Based on technology, also among the decliners with a loss of -2.67% or -357.75 points. This may impact local tech stocks today. The recent fall confirms fears of inflation. For live prices, visit our Live Tracker here.

ASX Today

Following a selloff on Wall Street, the Australian stock market is expected to drop again on Thursday. The ASX 200 is forecast to open the day 33 points or 0.5 percent lower, according to the latest SPI futures.

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 12th of May, Gainers click here.

Trading Halts Today:

Netlinkz (NET.ASX) – capital raising
HeraMED (HMD.ASX) – a commercial partnership
QX Resources (QXR.ASX) – capital raising
Alterra (1AG.ASX) – capital raising

Brent Crude Oil

Brent crude oil gained a total of +0.33% percent to US$68.93 per barrel, according to live Commsec data.

Iron Ore

Iron Ore prices decline today with a -1.54% loss to a price of $224.50 (USD/MT), according to live Commsec data. Iron Ore showing excellent strength over the weeks, but one question arises, how long will this last?

Gold

Gold up down today with a -0.38% loss or -7.0 points to a price of $1,815.80 US per ounce, according to CNBC. 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.

Copper

Copper is declining today according to Market Index; Copper declined -0.35% to a new price of $4.72 USD/lb, having a total 49.61% return in 1 year! We will shortly provide a link with all Copper stocks on the ASX.

Uranium

Uranium price increased by +0.65% to a price of $30.95 (USD/LBS), according to live Commsec data.

Silver

Silver down today by -0.38% or -0.104 points to a price of $27.14 USD, according to CNBC.

Other News

  • Elon Musk – Tesla has halted bitcoin vehicle purchases due to concerns about fossil fuels – News.
  • As the death toll in Israel-Hamas violence increases, a UN envoy warns of a “full-scale conflict.” – ABC News.
  • If the world had reacted a month earlier, the Covid-19 pandemic might have been avoided. – Telegraph 
  • What You Should Know About COVID-19 Vaccines in Australia – Health.gov

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

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