AU Morning Wrap: Bullock appointed RBA deputy governor; ASX opened lower

Wall Street Summary
US stocks faded to a second straight loss at the end of a volatile quarter dominated by rising prices, a deteriorating rates outlook and a war in Europe. The main indices closed at session lows after Russia threatened to cut off gas supplies to Europe unless paid in rubles.

The $S&P 500 Index (.SPX.US)$ fell 72.04 points, or 1.6%, to 4530.41. The $Nasdaq Composite Index (.IXIC.US)$ lost 221.76 points, or 1.5%, to 14220.52. The $Dow Jones Industrial Average (.DJI.US)$ gave up 550.46 points, or 1.6%, to 34678.35.

AU Market Watch
Australian shares are set to open modestly lower, following losses in New York. Oil dropped after the White House confirmed plans to release tens of millions of barrels of oil from US strategic reserves over the next six months. ASX futures were down 42 points or 0.6 per cent to 7437 near 7am AEDT.

Australia shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.28 per cent to 7479 as of 10:32 pm.

Michele Bullock has been appointed deputy governor of the Reserve Bank of Australia for a five year period.

Stocks to Watch
$Synlait Milk Ltd (SM1.AU)$: Synlait Milk half year revenue rose by 19% to $391.8m & net profit +338% to $27.9m. Said it still expects net profit to 'return to robust profitability in FY22' thanks partly to improved infant formula volumes and cost savings.

$ANZ Group Holdings Ltd (ANZ.AU)$: ANZ started ANZ Worldline Payment Solutions, a joint venture with leading European payments provider Worldline.

$Domain Holdings Australia Ltd (DHG.AU)$: Domain Holdings has entered into a binding agreement to acquire Realbase for upfront cash consideration of $180 million plus contingent consideration of up to $50 million which may be payable for achievement of stretch financial performance targets.

Dividends Paid Companies: $Telstra Group Ltd (TLS.AU)$, $Treasury Wine Estates Ltd (TWE.AU)$, $G8 Education Ltd (GEM.AU)$, $Suncorp Group Ltd (SUN.AU)$, $Perpetual Ltd (PPT.AU)$, $Genesis Energy Ltd (GNE.AU)$

Commodities
• Iron ore unchanged around US$150 a tonne.
• Oil prices fell below US$110 a barrel after President Joe Biden ordered the release of 1m barrels per day of oil to cool prices.
• Gold inched higher as a risk-off attitude returned.

Source: Dow Jones Newswires, Market Index