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-- 47.130 AU Morning Wrap: ASX plunges after Wall St rout; Macquarie profit jumps to $4.7b
G'day, mooers! Check out the latest news on today's stock market!
• Rates rethink triggerred US bloodbath
• Australian shares plunged on Friday; ASX 200 dropped 2 per cent
• Stocks to watch: News Corp, Macquarie, Block
- moomoo News AU
Wall Street Summary
US stocks erased all of their gains from Wednesday night as investors reassessed the Federal Reserve's decision to raise its benchmark rate by 50 basis points.
The $Dow Jones Industrial Average (.DJI.US)$ tumbled 1,063 points or 3.12 per cent to its heaviest loss since October 2020. The $S&P 500 Index (.SPX.US)$ shed 153 points or 3.56 per cent. The $Nasdaq Composite Index (.IXIC.US)$ gave up 647 points or 4.99 per cent.
AU Market Watch
Australia's S&P/ASX 200 looks poised to dive at the open, resuming its downward trajectory after US stocks posted their largest falls of 2022. ASX futures are down by 1.5%, suggesting yesterday's 0.8% rise was a blip in an otherwise red week. The ASX 200 is nearly 1% lower so far in a week that has featured interest-rate rises in Australia and the US. It is on course for a third straight weekly decline.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 2 per cent to 7219 as of 10:12 am.
US stocks erased all of their gains from Wednesday night as investors reassessed the Federal Reserve's decision to raise its benchmark rate by 50 basis points.
The $Dow Jones Industrial Average (.DJI.US)$ tumbled 1,063 points or 3.12 per cent to its heaviest loss since October 2020. The $S&P 500 Index (.SPX.US)$ shed 153 points or 3.56 per cent. The $Nasdaq Composite Index (.IXIC.US)$ gave up 647 points or 4.99 per cent.
AU Market Watch
Australia's S&P/ASX 200 looks poised to dive at the open, resuming its downward trajectory after US stocks posted their largest falls of 2022. ASX futures are down by 1.5%, suggesting yesterday's 0.8% rise was a blip in an otherwise red week. The ASX 200 is nearly 1% lower so far in a week that has featured interest-rate rises in Australia and the US. It is on course for a third straight weekly decline.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 2 per cent to 7219 as of 10:12 am.
Stocks to Watch
$News Corp (NWS.AU)$: News Corp third quarter revenues rose to 7 per cent to a record $US2.49 billion compared with the previous year and net income of $US104 million, 8 per cent higher year-on-year, thanks to a rebound in advertising, new content, licensing revenues and strong digital subscriber gains.
$Macquarie Group Ltd (MQG.AU)$: Macquarie Group full-year profit rose 56 per cent to $4.7 billion, and for the second-half rose 31 per cent to $2.7 billion year-on-year.
$Block Inc (SQ2.AU)$: Block Inc, the fintech firm led by Twitter founder Jack Dorsey, missed market estimates for first-quarter profit on Thursday (Friday AEST) as demand for bitcoin softened due to a decline in cryptocurrency prices.
Dividends Paid Companies: $Perpetual Credit Income Trust (PCI.AU)$, $Spheria Emerging Co Ltd (SEC.AU)$, $Seven Group Holdings Ltd (SVW.AU)$
Commodities
• Iron ore futures rose 1.7% to US$145.2 a tonne.
• Oil was green but well-off session highs of US$111.3 a barrel. EU outlined its plans on phasing out Russian oil and the latest EIA report flagged historically low strategic petroleum reserves.
• Gold briefly spiked 1.5% to session highs of US$1,909 before fading back to the US$1,870 level.
Source: Dow Jones Newswires, Market Index
$News Corp (NWS.AU)$: News Corp third quarter revenues rose to 7 per cent to a record $US2.49 billion compared with the previous year and net income of $US104 million, 8 per cent higher year-on-year, thanks to a rebound in advertising, new content, licensing revenues and strong digital subscriber gains.
$Macquarie Group Ltd (MQG.AU)$: Macquarie Group full-year profit rose 56 per cent to $4.7 billion, and for the second-half rose 31 per cent to $2.7 billion year-on-year.
$Block Inc (SQ2.AU)$: Block Inc, the fintech firm led by Twitter founder Jack Dorsey, missed market estimates for first-quarter profit on Thursday (Friday AEST) as demand for bitcoin softened due to a decline in cryptocurrency prices.
Dividends Paid Companies: $Perpetual Credit Income Trust (PCI.AU)$, $Spheria Emerging Co Ltd (SEC.AU)$, $Seven Group Holdings Ltd (SVW.AU)$
Commodities
• Iron ore futures rose 1.7% to US$145.2 a tonne.
• Oil was green but well-off session highs of US$111.3 a barrel. EU outlined its plans on phasing out Russian oil and the latest EIA report flagged historically low strategic petroleum reserves.
• Gold briefly spiked 1.5% to session highs of US$1,909 before fading back to the US$1,870 level.
Source: Dow Jones Newswires, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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