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-- 86.010 AU Morning Wrap: ASX rises in early trade; Link, Imugene due with announcements
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 powers ahead, Bitcoin and tech stocks rally
• Australian shares open higher on Monday, ASX 200 up 1 per cent
• Atlas Arteria eyes Chicago Skyway; Link, Imugene on halt
- moomoo News AU
Wall Street Summary
US stocks sealed their first weekly gain in four weeks as buyers anticipated another decline in inflation with tomorrow's August consumer prices report. With a 75 basis point rate hike next week a near-certainty, investors will look for signs the Federal Reserve will be able to slow the pace of increases in the months ahead.
The $S&P 500 Index (.SPX.US)$ surged 61 points or 1.53 per cent on Friday to extend its rally for the week to 3.65 per cent. The $Dow Jones Industrial Average (.DJI.US)$ Average gained 377 points or 1.19 per cent on the day and 2.66 per cent for the week. The $Nasdaq Composite Index (.IXIC.US)$ led with rises of 250 points or 2.11 per cent for the session and 4.14 per cent for the week.
AU Market Watch
Australian shares looks set to jump higher at the open after U.S. stocks rose to break a run of weekly losses. ASX futures are up by 1.1%, suggesting the benchmark index will continue its own positive momentum from the end of last week. The ASX 200 added 0.7% on Friday, rounding out a 1% weekly gain that looked unlikely when it was 1.5% down with two sessions of the week remaining. Stronger oil prices could again support Australian energy stocks, which rallied Friday from consecutive heavy losses.
Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 1 per cent to 6963.3 as of 10:11 am.
US stocks sealed their first weekly gain in four weeks as buyers anticipated another decline in inflation with tomorrow's August consumer prices report. With a 75 basis point rate hike next week a near-certainty, investors will look for signs the Federal Reserve will be able to slow the pace of increases in the months ahead.
The $S&P 500 Index (.SPX.US)$ surged 61 points or 1.53 per cent on Friday to extend its rally for the week to 3.65 per cent. The $Dow Jones Industrial Average (.DJI.US)$ Average gained 377 points or 1.19 per cent on the day and 2.66 per cent for the week. The $Nasdaq Composite Index (.IXIC.US)$ led with rises of 250 points or 2.11 per cent for the session and 4.14 per cent for the week.
AU Market Watch
Australian shares looks set to jump higher at the open after U.S. stocks rose to break a run of weekly losses. ASX futures are up by 1.1%, suggesting the benchmark index will continue its own positive momentum from the end of last week. The ASX 200 added 0.7% on Friday, rounding out a 1% weekly gain that looked unlikely when it was 1.5% down with two sessions of the week remaining. Stronger oil prices could again support Australian energy stocks, which rallied Friday from consecutive heavy losses.
Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 1 per cent to 6963.3 as of 10:11 am.
Stocks to Watch
$Atlas Arteria Ltd (ALX.AU)$: Atlas Arteria told the ASX it is participating in the sale process for the Chicago Skyway toll road, following media reports. It said it there is no certainty that a transaction will eventuate and won't comment further until an outcome is known or it ceases tobe involved in the sale process.
$Link Administration Holdings Ltd (LNK.AU)$: Link Administration Holdings requested a trading halt pending an announcement. Unless ASX decides otherwise, the securities will remain on halt until the earlier of the commencement of normal trading on Wednesday, 14 September 2022 or when the announcement is released to the market.
$Coles Group Ltd (COL.AU)$: Coles Group has appointed Terry Bowen and Scott Price as non-executive directors to its board. Mr Bowen, currently on the boards of BHP Group and Transurban Group, was Coles' finance director from 2007 to 2009.
$Synlait Milk Ltd (SM1.AU)$: Synlait Milk received the renewal approval from the State Administration for Market Regulation to produce Chinese-labelled infant formula. The approval will expire in February 2023 when transition to the new GB standard is required.
Ex-dividend: $Chorus Ltd (CNU.AU)$, $Dusk Group Ltd (DSK.AU)$, $Duratec Ltd (DUR.AU)$, $Diverger Ltd (DVR.AU)$, $HUB24 Ltd (HUB.AU)$, $Joyce Corp Ltd (JYC.AU)$, $L1 Long Short Fund Ltd (LSF.AU)$, $Motorcycle Holdings Ltd (MTO.AU)$, $Paragon Care Ltd (PGC.AU)$, $Perseus Mining Ltd (PRU.AU)$, $Saunders International Ltd (SND.AU)$
Dividends paid: $Credit Corp Group Ltd (CCP.AU)$, $Computershare Ltd (CPU.AU)$, $Cyclopharm Ltd (CYC.AU)$, $Fiducian Group Ltd (FID.AU)$, $Vicinity Centres (VCX.AU)$
Commodities
• Iron ore futures rose 2.1% to US$102 a tonne. Prices rallied 7.2% last week to a one week high.
• Oil prices rallied as the US dollar tumbled from 20-year highs.
• Gold inched higher thanks to the fall in the dollar.
$Atlas Arteria Ltd (ALX.AU)$: Atlas Arteria told the ASX it is participating in the sale process for the Chicago Skyway toll road, following media reports. It said it there is no certainty that a transaction will eventuate and won't comment further until an outcome is known or it ceases tobe involved in the sale process.
$Link Administration Holdings Ltd (LNK.AU)$: Link Administration Holdings requested a trading halt pending an announcement. Unless ASX decides otherwise, the securities will remain on halt until the earlier of the commencement of normal trading on Wednesday, 14 September 2022 or when the announcement is released to the market.
$Coles Group Ltd (COL.AU)$: Coles Group has appointed Terry Bowen and Scott Price as non-executive directors to its board. Mr Bowen, currently on the boards of BHP Group and Transurban Group, was Coles' finance director from 2007 to 2009.
$Synlait Milk Ltd (SM1.AU)$: Synlait Milk received the renewal approval from the State Administration for Market Regulation to produce Chinese-labelled infant formula. The approval will expire in February 2023 when transition to the new GB standard is required.
Ex-dividend: $Chorus Ltd (CNU.AU)$, $Dusk Group Ltd (DSK.AU)$, $Duratec Ltd (DUR.AU)$, $Diverger Ltd (DVR.AU)$, $HUB24 Ltd (HUB.AU)$, $Joyce Corp Ltd (JYC.AU)$, $L1 Long Short Fund Ltd (LSF.AU)$, $Motorcycle Holdings Ltd (MTO.AU)$, $Paragon Care Ltd (PGC.AU)$, $Perseus Mining Ltd (PRU.AU)$, $Saunders International Ltd (SND.AU)$
Dividends paid: $Credit Corp Group Ltd (CCP.AU)$, $Computershare Ltd (CPU.AU)$, $Cyclopharm Ltd (CYC.AU)$, $Fiducian Group Ltd (FID.AU)$, $Vicinity Centres (VCX.AU)$
Commodities
• Iron ore futures rose 2.1% to US$102 a tonne. Prices rallied 7.2% last week to a one week high.
• Oil prices rallied as the US dollar tumbled from 20-year highs.
• Gold inched higher thanks to the fall in the dollar.
"It seems Wall Street is getting comfortable with the idea of another 75-basis point rate hike by the Fed," said Oanda senior market analyst, Ed Moya.
Source: Dow Jones Newswires, AFR
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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