Happy Monday and here is today’s morning wrap up:
US Exchange Overnight
The Dow Jones gained +0.66% or +229.23 points and the S&P 500 gained a total of +0.74% or +30.98 points. The Nasdaq, which is based on technology, recovered overnight with a gain of +0.88% or +119.39 points. This may have a positive effect on local tech stocks today. For live prices visit our Live Tracker here
Despite a strong finish on Wall Street, the Australian stock market looks set to start the week with a slight loss. The ASX 200 is forecast to start the week 4 points lower this morning, according to the latest SPI futures. NSW Government extended lockdown restrictions to prevent further spread of Corona Virus, while the federal government implied that the nation’s borders will reamin closed until next year.
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 7th of May Gainers click here
Trading Halts Today:
Australian Rural Capital (ARC.ASX) – capital raising
MGC Pharmaceuticals (MXC.ASX) – ArtemiC findings
Sportshero (SHO.ASX) – partnership
Neometals (NMT.ASX) – battery recycling study
Brent Crude Oil
Brent crude oil is on the rise with a +0.92% percent to US$68.87 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 shows great strength over the weeks, but one question arises, how long will this last?
Gold gained +0.13% or +2.29 points to a price of $1,833.50 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 on the rise according to Market Index Copper moved higher again with a price of 4.77 USD/lb having a total 49.37% 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.
- Victoria is on the hunt to find something to replace gas as the historical plentiful supply of gas in the Bass Strait is coming to an end according to The Age
- Chinese rocket finally lands in the Indian Ocean near the Maldives according to ABC news
- Qantas adds 1 million seats on flights to Adelaide in response to a surging demand for domestic travel according to the Business Insider
- The RBA hopes that Australians spend the money saved during the life of the pandemic according to the Business Insider
That is this morning’s ASX wrap up, as always stay safe and happy trading
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