AU Morning Wrap: Gold miners fall, Fortescue sinks
G'day, mooers! Check out the latest news on today's stock market!
• The blue-chip Dow slumped while the Nasdaq surged
• Australian shares opened lower on Wesnesday, ASX 200 down 0.46 per cent
• Stocks to watch: Sunland, IAG
- moomoo News AU
Wall Street Summary
US stocks mounted a fierce intraday reversal as investors bought a deep opening dip. The main indices finished mixed as growth stocks resisted selling pressure on other sectors.
The $S&P 500 Index (.SPX.US)$ closed six points or 0.16 per cent ahead after being down more than 2 per cent. Tech stocks led a reversal that lifted the $Nasdaq Composite Index (.IXIC.US)$ 194 points or 1.75 per cent. The $Dow Jones Industrial Average (.DJI.US)$ slashed a 700-point loss to 129 points or 0.42 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open lower amid lower oil prices and an uncertain lead from U.S. stocks. ASX futures are down by 1.0% suggesting the benchmark index will pull back following two consecutive gains at the start of the week. Brent crude slid 9.5% US$102.77 a barrel, which could put pressure on shares of Australian gold miners.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.46 per cent to 6599 as of 10:13 am.
US stocks mounted a fierce intraday reversal as investors bought a deep opening dip. The main indices finished mixed as growth stocks resisted selling pressure on other sectors.
The $S&P 500 Index (.SPX.US)$ closed six points or 0.16 per cent ahead after being down more than 2 per cent. Tech stocks led a reversal that lifted the $Nasdaq Composite Index (.IXIC.US)$ 194 points or 1.75 per cent. The $Dow Jones Industrial Average (.DJI.US)$ slashed a 700-point loss to 129 points or 0.42 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open lower amid lower oil prices and an uncertain lead from U.S. stocks. ASX futures are down by 1.0% suggesting the benchmark index will pull back following two consecutive gains at the start of the week. Brent crude slid 9.5% US$102.77 a barrel, which could put pressure on shares of Australian gold miners.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.46 per cent to 6599 as of 10:13 am.
Stocks to Watch
$Sunland Group Ltd (SDG.AU)$: Residential construction business Sunland Group has forecast a net profit between $92 million and $98 million in FY 2022. It also said recent funds raised from allotment sales have been used to pay down unsecured debt.
$Insurance Australia Group Ltd (IAG.AU)$: Insurance Australia Group has added third and fourth event cover to its financial 2023 reinsurance strategy worth $100 million in protection for disasters exceeding $150 million in losses.
Ex-dividend: $Cardno Ltd (CDD.AU)$, $Graincorp Ltd (GNC.AU)$, $Thorn Group Ltd (TGA.AU)$
Dividends paid: $Fisher & Paykel Healthcare Corp Ltd (FPH.AU)$
Listing: $MetalsGrove Mining Ltd (MGA.AU)$
Commodities
• Iron ore futures were under pressure after a new wave of covid cases reported in China over the weekend and the rollout of mass testing.
• Oil prices fell around -10% to a 2-month low as recession risks soar.
• Gold hit a 9-month low amid a soaring US dollar.
Source: Dow Jones Newswires, AFR
$Sunland Group Ltd (SDG.AU)$: Residential construction business Sunland Group has forecast a net profit between $92 million and $98 million in FY 2022. It also said recent funds raised from allotment sales have been used to pay down unsecured debt.
$Insurance Australia Group Ltd (IAG.AU)$: Insurance Australia Group has added third and fourth event cover to its financial 2023 reinsurance strategy worth $100 million in protection for disasters exceeding $150 million in losses.
Ex-dividend: $Cardno Ltd (CDD.AU)$, $Graincorp Ltd (GNC.AU)$, $Thorn Group Ltd (TGA.AU)$
Dividends paid: $Fisher & Paykel Healthcare Corp Ltd (FPH.AU)$
Listing: $MetalsGrove Mining Ltd (MGA.AU)$
Commodities
• Iron ore futures were under pressure after a new wave of covid cases reported in China over the weekend and the rollout of mass testing.
• Oil prices fell around -10% to a 2-month low as recession risks soar.
• Gold hit a 9-month low amid a soaring US dollar.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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