AU Morning Wrap: Reserve Bank of Australia rate decision ahead
G'day, mooers! Check out the latest news on today's stock market!
• U.S. stocks climbed Monday as investors scooped up some of the technology stocks that came under pressure to start the year.
• The ASX 200 is up 0.3% this morning.
• Stocks to watch: Bank of Queensland, Panoramic Resources
- moomoo News AU
Wall Street Summary
U.S. stocks climbed Monday as investors scooped up some of the technology stocks that came under pressure to start the year.
The tech-focused $Nasdaq Composite Index (.IXIC.US)$ gained 271.05 points, or 1.9%, to 14532.55, while the $S&P 500 Index (.SPX.US)$ added 36.78 points, or 0.8%, to 4582.64. The $Dow Jones Industrial Average (.DJI.US)$ rose 103.61 points, or 0.3%, to 34921.88.
U.S. stocks climbed Monday as investors scooped up some of the technology stocks that came under pressure to start the year.
The tech-focused $Nasdaq Composite Index (.IXIC.US)$ gained 271.05 points, or 1.9%, to 14532.55, while the $S&P 500 Index (.SPX.US)$ added 36.78 points, or 0.8%, to 4582.64. The $Dow Jones Industrial Average (.DJI.US)$ rose 103.61 points, or 0.3%, to 34921.88.
AU Market Watch
According to the latest SPI futures, the ASX 200 is likely to open 47 points or 0.6% higher.
According to the latest SPI futures, the ASX 200 is likely to open 47 points or 0.6% higher.
The ASX-listed tech shares are set to rally after $Twitter (Delisted) (TWTR.US)$ surged over 25% on news that Elon Musk has acquired a 9.2% stake in the social media company, boosting overall tech sector sentiment.
Meanwhile, Reserve Bank of Australia’s (RBA) monthly meeting is scheduled for today and analysts assume rates would be kept at a record low of 0.1%. The market continues to expect the first hike to occur in May. RBA statement is expected at 2.30 PM (AEST).
The ASX 200 is up 0.3% this morning to higher at 7,537. 6 after a strong lead from Wall Street.
The ASX 200 is up 0.3% this morning to higher at 7,537. 6 after a strong lead from Wall Street.
Stocks to Watch
The $Bank of Queensland Ltd (BOQ.AU)$ has announced that it is "scheduled to release its 1H22 financial results on Thursday, 14 April 2022". To allow "meaningful comparison with prior periods", the bank has also included the impacts of its ME Bank acquisition and St Andrew's Insurance divestment in a set of financial statements it released today.
$Panoramic Resources Ltd (PAN.AU)$, who yesterday announced a US$21.8 million invoice for its third shipment of a nickel-copper-cobalt concentrate, has released a drilling update. CEO Victor Rajasooriar says that the drill results “provide strong confidence in [their] current life of mine plan and the future of the Savannah Nickel Operation".
Ex-dividend: $Clime Capital Ltd (CAM.AU)$, $Perpetual Equity Investment Co Ltd (PIC.AU)$
Dividends paid: $Healius Ltd (HLS.AU)$, $SSR Mining Inc (SSR.AU)$
Commodities
• Iron ore was mostly unchanged as Chinese market participants were absent due to the Tomb Sweeping Festival holiday.
• Oil is stabilising around the US$100 mark. The International Energy Agency also intends to release strategic petroleum reserves to ease the supply-tight market. The details of the release are still pending.
• Gold is holding around US$1,930 despite the increasingly risk-on attitude. The war in Ukraine, recession risks and inflation appears to be providing plenty of support for the yellow metal.
Source: Dow Jones Newswires, Market Index
• Iron ore was mostly unchanged as Chinese market participants were absent due to the Tomb Sweeping Festival holiday.
• Oil is stabilising around the US$100 mark. The International Energy Agency also intends to release strategic petroleum reserves to ease the supply-tight market. The details of the release are still pending.
• Gold is holding around US$1,930 despite the increasingly risk-on attitude. The war in Ukraine, recession risks and inflation appears to be providing plenty of support for the yellow metal.
Source: Dow Jones Newswires, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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