AU Morning Wrap: ASX rises; Block leads losses

The $S&P 500 Index (.SPX.US)$ jagged in and out of positive territory before closing three points or 0.08 per cent lower. The $Dow Jones Industrial Average (.DJI.US)$ retreated 86 points or 0.26 per cent. The $Nasdaq Composite Index (.IXIC.US)$ rallied 52 points or 0.41 per cent.

AU Market Watch
Australia's S&P/ASX 200 is on track for an uncertain start to its final session of the week after a mixed performance by U.S. stocks. ASX futures are up by less than 0.1%, hinting at more indecision after the benchmark index closed flat on Thursday. The ASX 200 is still 0.4% ahead for the week but hasn't gained since Tuesday as commodity prices and economic concerns offset hope that interest-rate rises will tame inflation.

Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.19 per cent to 6988.3 as of 10:17 am.

Australian shares are poised to edge higher with the RBA's latest monetary policy statement in focus. The statement will be released at 11.30am AEST.

Stocks to Watch
$GQG Partners Inc (GQG.AU)$: GQG Partners reported a $US2.2 billion ($3.2 billion) increase in funds under management for the month of July to $US88.9 billion.

$Block Inc (SQ2.AU)$: Afterpay-owner Block slides on bitcoin miss. Block, the digital-payments firm reported weaker-than-expected gross payment volume, a measure of the total amount of money transacted using Block's products. Revenue collected through bitcoin transactions was $US1.79 billion, down 34 per cent. Shares slid as much as 7 per cent in late trading.

Ex-dividend: $Janus Henderson Group PLC (JHG.AU)$

Dividends paid: $Centuria Industrial REIT (CIP.AU)$, $Centuria Office REIT (COF.AU)$, $Euroz Hartleys Group Ltd (EZL.AU)$, $360 Capital Mortgage REIT (TCF.AU)$

Listing: $Summit Minerals Ltd (SUM.AU)$

Commodities
• Iron ore futures (Singapore) fell -4.2% to US$105.7 a tonne. The average daily outputs for crude steel, pig iron and steel have dropped between 5-8% year-on-year, according to data from the China Iron and Steel Association.
• Oil prices tumbled as weakening economic data from the UK and Germany added further insult to injury. Oil is now around -5.6% lower than pre-invasion levels.
• Gold posted more gains as the US dollar weakened.

Source: Dow Jones Newswires, AFR