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Rise & Shine, Everything you need to know before the morning bell!

Good morning!

Happy Monday and here is today’s morning wrap up:

US Exchange Overnight

The Dow Jones lost -0.10% or -34.94 points, and the S&P 500 followed, losing a total of -1.04% or -44.17 points overnight. The Nasdaq, which is based on technology, also among the decliners a loss of -2.55% or -350.38 points. This may impact local tech stocks today. For live prices, visit our Live Tracker here

ASX Today

Following a disappointing start to the week on Wall Street, the Australian share market looks likely to have a tough day on Tuesday. The ASX 200 is forecast to start the day 59 points or 0.8% lower this morning, 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 10th of May Gainers click here

Trading Halts Today:

New Age Exploration (NAE.ASX) – capital raising
Health House (HHI.ASX) – acquisition
DomaCom (DCL.ASX) – media clarification
Inventis (IVT.ASX) – capital raising
Victory Mines (VIC.ASX) – assay results
Challenger Exploration (CEL.ASX) – tenement position update

Brent Crude Oil

Brent crude oil declined a total of -0.89% percent to US$68.27 per barrel, according to live Commsec data.

Iron Ore

Iron Ore prices surging with no signs of stopping for some time! With a +5.08% gain to a price of $207 (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 down today with a -0.09% loss or -1.70 points to a price of $1,836.00 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 pulling back today according to Market Index; Copper declined -0.43% to a new price of 4.70 USD/lb, having a total 48.55% return in 1 year! We will shortly provide a link with all Copper stocks on the ASX.

Uranium

Uranium prices dropped -0.16% to a price of 30.50 (USD/LBS), according to live Commsec data.

Silver

Silver today down -0.35% or -0.097 points to a price of 27.395 USD according to CNBC

Other News

  • This evening, Treasurer Josh Frydenberg will deliver the Federal Budget for 2021-22. So far, here’s what we know:
    • Safer and effective roads and infrastructure ($10 billlion)
    • Government JobTrainer program to be extended by 12 months ($1 billion)
    • Single parents new 2% deposit scheme to buy their own house
    • Women’s health ($350 million)
    • Pensioners aged 60 and above, allowed to make a one-off contribution to their super
    • Boost in digital economy (1.2 billion)
    • Childcare services boosted ($1.7 billion)
    • Tax breaks for breweries and distilleries ($250,000 in savings each year)
    • Deregulation package ($120 million)
    • Boost in aged care funding ( <$10 billion)
    • Upgrades to Northern Territory military bases ( $747 million)
    • Biosecurity package to keep out pests ($371 million)
    • Infrastructure boost to WA ($1.3 billion)
    • Disaster recovery agency
    • More tax cuts expected
  • Doctors in India are warning about a fungal infection called ‘black fungus,’ which has been detected in some recovered COVID-19 patients. Full article at BoomLive

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

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