AU Morning Wrap: ASX opens higher, Citi calls May cash rate rise
G'day, mooers! Check out the latest news on today's stock market!
• Meta sparks Wall Street rally
• Australian shares opened higher on Friday; ASX 200 up 0.7 per cent
• Stocks to watch: ResMed, Ramsay, Reliance Worldwide
- moomoo News AU
• Meta sparks Wall Street rally
• Australian shares opened higher on Friday; ASX 200 up 0.7 per cent
• Stocks to watch: ResMed, Ramsay, Reliance Worldwide
- moomoo News AU
![AU Morning Wrap: ASX opens higher, Citi calls May cash rate rise](https://ussnsimg.moomoo.com/16478186782133-151000101-web-8f00b204e9800998.bmp/bigmoo)
Wall Street Summary
US stocks rebounded as a better-than-expected trading update from Facebook owner Meta Platforms encouraged investors to buy battered tech stocks.
The tech-heavy $Nasdaq Composite Index(.IXIC.US$ led with a rise of 383 points or 3.06 per cent. The $S&P 500 Index(.SPX.US$ gained 104 points or 2.47 per cent. The $Dow Jones Industrial Average(.DJI.US$ put on 614 points or 1.85 per cent.
AU Market Watch
Australian shares are poised to open higher, bolstered by a tech rally in New York. ASX futures were up 57 points or 0.8 per cent to 7391 near 6.30am AEST.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.7 per cent to 7408 as of 10:20 am.
US stocks rebounded as a better-than-expected trading update from Facebook owner Meta Platforms encouraged investors to buy battered tech stocks.
The tech-heavy $Nasdaq Composite Index(.IXIC.US$ led with a rise of 383 points or 3.06 per cent. The $S&P 500 Index(.SPX.US$ gained 104 points or 2.47 per cent. The $Dow Jones Industrial Average(.DJI.US$ put on 614 points or 1.85 per cent.
AU Market Watch
Australian shares are poised to open higher, bolstered by a tech rally in New York. ASX futures were up 57 points or 0.8 per cent to 7391 near 6.30am AEST.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.7 per cent to 7408 as of 10:20 am.
$CommBank(CBA.AU$ said next week's RBA policy meeting will be a close call between keeping the record low 0.1 pe cent cash rate on hold or opting for a lift. Gareth Aird, head of Australian economics said the May meeting is "live" and has assigned a 60 per cent probability of a steady rate on May 3.
Stocks to Watch
$ResMed Inc(RMD.AU$'s revenues increased by 12 per cent to $US864.5 million in the March quarter lead by strong demand for sleep and respiratory care devices. A recent product recall by one of ResMed's competitors also helped.
$Ramsay Health Care Ltd(RHC.AU$ posted a NPAT drop of nearly 40 per cent to $201.6 million for the nine months to March, compared with the previous period, due to COVID-related disruption on staff, patient and clinician availability and the increased costs associated with the operating environment.
$Reliance Worldwide Corp Ltd(RWC.AU$ reported a 4 per cent drop in operating earnings to $191.4 million in the nine months to March, compared with the previous period, even as it increased prices to cover higher costs particularly in copper, resins and steel.
Ex-dividend Companies: $PARTNERSGG UNITS(PGG.AU$
Dividends Paid Companies: $Bisalloy Steel Group Ltd(BIS.AU$, $Cedar Woods Properties Ltd(CWP.AU$, $Duxton Water Ltd(D2O.AU$, $Future Generation Australia Ltd(FGX.AU$, $Kelly Partners Group Holdings Ltd(KPG.AU$, $Lion Selection Group Ltd(LSX.AU$, $Money3 Corp Ltd(MNY.AU$
Commodities
• Iron ore prices remain unchanged at US$150.
• Oil prices continue to recover from lows earlier this week that sent prices below US$100 a barrel.
• Gold is trying to stabilise after hitting a recent low of US$1,870, weighed by a strong US dollar.
Source: Dow Jones Newswires, Market Index
Stocks to Watch
$ResMed Inc(RMD.AU$'s revenues increased by 12 per cent to $US864.5 million in the March quarter lead by strong demand for sleep and respiratory care devices. A recent product recall by one of ResMed's competitors also helped.
$Ramsay Health Care Ltd(RHC.AU$ posted a NPAT drop of nearly 40 per cent to $201.6 million for the nine months to March, compared with the previous period, due to COVID-related disruption on staff, patient and clinician availability and the increased costs associated with the operating environment.
$Reliance Worldwide Corp Ltd(RWC.AU$ reported a 4 per cent drop in operating earnings to $191.4 million in the nine months to March, compared with the previous period, even as it increased prices to cover higher costs particularly in copper, resins and steel.
Ex-dividend Companies: $PARTNERSGG UNITS(PGG.AU$
Dividends Paid Companies: $Bisalloy Steel Group Ltd(BIS.AU$, $Cedar Woods Properties Ltd(CWP.AU$, $Duxton Water Ltd(D2O.AU$, $Future Generation Australia Ltd(FGX.AU$, $Kelly Partners Group Holdings Ltd(KPG.AU$, $Lion Selection Group Ltd(LSX.AU$, $Money3 Corp Ltd(MNY.AU$
Commodities
• Iron ore prices remain unchanged at US$150.
• Oil prices continue to recover from lows earlier this week that sent prices below US$100 a barrel.
• Gold is trying to stabilise after hitting a recent low of US$1,870, weighed by a strong US dollar.
Source: Dow Jones Newswires, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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