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
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 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 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 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 prices dropped -0.16% to a price of 30.50 (USD/LBS), according to live Commsec data.
Silver today down -0.35% or -0.097 points to a price of 27.395 USD according to CNBC
- 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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