AU Morning Wrap: ASX opens lower as inflation bites Wall St; Xero posts loss
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• Wall St dropped on bets for higher rates
• Australian shares opened lower on Thursday; ASX 200 dropped 0.49 per cent
• Stocks to watch: CBA, Xero, CSL
- moomoo News AU
• Wall St dropped on bets for higher rates
• Australian shares opened lower on Thursday; ASX 200 dropped 0.49 per cent
• Stocks to watch: CBA, Xero, CSL
- moomoo News AU
Wall Street Summary
The Dow Jones Industrial Average declined for a fifth night after data showed inflation cooled last month by less than economists expected. Stocks finished at session lows amid speculation the report would not divert the Federal Reserve from a series of sharp rate increases this year.
The $Dow Jones Industrial Average(.DJI.US$ slumped 327 points or 1.02 per cent to its lowest close of the year and longest losing run since 2020. The $S&P 500 Index(.SPX.US$ shed 66 points or 1.65 per cent. The $Nasdaq Composite Index(.IXIC.US$ lost 373 points or 3.18 per cent.
AU Market Watch
Australia's S&P/ASX 200 is poised to open lower after U.S. stocks fell after higher-than-expected inflation data. ASX futures are down by 0.5%, suggesting the benchmark will struggle to hold on to Wednesday's 0.2% rise. The ASX 200 is still down 2.0% so far this week despite a rebound by iron-ore stocks in the most recent session.
Australian shares opened lower this morning. The $S&P/ASX 200(.XJO.AU$ lost 0.49 per cent to 7030 as of 10:10 am.
The Dow Jones Industrial Average declined for a fifth night after data showed inflation cooled last month by less than economists expected. Stocks finished at session lows amid speculation the report would not divert the Federal Reserve from a series of sharp rate increases this year.
The $Dow Jones Industrial Average(.DJI.US$ slumped 327 points or 1.02 per cent to its lowest close of the year and longest losing run since 2020. The $S&P 500 Index(.SPX.US$ shed 66 points or 1.65 per cent. The $Nasdaq Composite Index(.IXIC.US$ lost 373 points or 3.18 per cent.
AU Market Watch
Australia's S&P/ASX 200 is poised to open lower after U.S. stocks fell after higher-than-expected inflation data. ASX futures are down by 0.5%, suggesting the benchmark will struggle to hold on to Wednesday's 0.2% rise. The ASX 200 is still down 2.0% so far this week despite a rebound by iron-ore stocks in the most recent session.
Australian shares opened lower this morning. The $S&P/ASX 200(.XJO.AU$ lost 0.49 per cent to 7030 as of 10:10 am.
Stocks to Watch
$CommBank(CBA.AU$: Commonwealth Bank generated $2.3 billion in net profit after tax in the March quarter despite income easing 1 per cent which partly reflected “continued margin pressure” facing the business.
$Xero Ltd(XRO.AU$: Xero, a tech firm that provides software to small businesses, grew revenues 29 per cent to $1 billion in the year to the end of March, but fell from profitability to post a small lost for the period.
$CSL Ltd(CSL.AU$: CSL has pushed out the timeline for its takeover of Swiss group Vifor Pharma, which it initially anticipated closing by June.
Ex-dividend Companies: $SSR Mining Inc(SSR.AU$
Dividends paid Companies: $KKR Credit Income Fund(KKC.AU$, $Myer Holdings Ltd(MYR.AU$
Commodities
• Iron ore futures rose 3.0% to US$134.2 a tonne. The outlook for downstream steel demand in June was showing signs of improvement, according to Fastmarkets.
• Oil prices are pushing US$105 a barrel as the US dollar eased after a hot inflation report.
• Gold initially sold off after the inflation data which will likely force the Fed to deliver a more hawkish view on interest rates.
Source: Dow Jones Newswires, AFR
$CommBank(CBA.AU$: Commonwealth Bank generated $2.3 billion in net profit after tax in the March quarter despite income easing 1 per cent which partly reflected “continued margin pressure” facing the business.
$Xero Ltd(XRO.AU$: Xero, a tech firm that provides software to small businesses, grew revenues 29 per cent to $1 billion in the year to the end of March, but fell from profitability to post a small lost for the period.
$CSL Ltd(CSL.AU$: CSL has pushed out the timeline for its takeover of Swiss group Vifor Pharma, which it initially anticipated closing by June.
Ex-dividend Companies: $SSR Mining Inc(SSR.AU$
Dividends paid Companies: $KKR Credit Income Fund(KKC.AU$, $Myer Holdings Ltd(MYR.AU$
Commodities
• Iron ore futures rose 3.0% to US$134.2 a tonne. The outlook for downstream steel demand in June was showing signs of improvement, according to Fastmarkets.
• Oil prices are pushing US$105 a barrel as the US dollar eased after a hot inflation report.
• Gold initially sold off after the inflation data which will likely force the Fed to deliver a more hawkish view on interest rates.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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