AU Morning Wrap: ASX opens 0.6% lower; IPH completes Smart & Biggar purchase
G'day, mooers! Check out the latest news on today's stock market!
• Dow falls as jobs report looms
• Australian shares open lower on Friday, ASX 200 down 0.56 per cent
• Stocks to watch: Stanmore Resources, Telstra, Seven Group, IPH, Allkem
- moomoo News AU
• Dow falls as jobs report looms
• Australian shares open lower on Friday, ASX 200 down 0.56 per cent
• Stocks to watch: Stanmore Resources, Telstra, Seven Group, IPH, Allkem
- moomoo News AU
Wall Street Summary
The $Dow Jones Industrial Average (.DJI.US)$ retreated 1.15% in Thursday's stock market trading. The $S&P 500 Index (.SPX.US)$ gave up 1%. The $Nasdaq Composite Index (.IXIC.US)$ shed 0.7%.
The $Dow Jones Industrial Average (.DJI.US)$ retreated 1.15% in Thursday's stock market trading. The $S&P 500 Index (.SPX.US)$ gave up 1%. The $Nasdaq Composite Index (.IXIC.US)$ shed 0.7%.
The 10-year Treasury yield rose 7 basis points to 3.83%, as several Fed officials stuck to the central bank's hawkish line. It jumped 14 basis points on Wednesday. The 10-year yield is now up for the week and not far from 12-year highs right around 4%. The 10-year Treasury yield falling Monday-Tuesday was a key tailwind for the new stock market rally attempt.
U.S. crude oil prices rose 0.8% to $88.45 a barrel, their fourth straight advance. OPEC+ on Wednesday agreed to cut production quotas by 2 million barrels per day.
Investors weren't ready to make big bets heading into Friday's jobs report. The employment report could be pivotal for the market rally attempt. But a negative jobs report reaction could send the indexes tumbling toward their bear market lows again.
AU Market Watch
Australia's $S&P/ASX 200 (.XJO.AU)$ is set to fall at the open after a rally on Wall Street peters out as investors absorb the effects of interest-rate hikes. ASX futures are down 0.7%. Australia's benchmark closed flat yesterday, with strength in energy stocks offset by broad-based weakness across the market.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.56 per cent to 6779.2 as of 10:37 am.
Investors weren't ready to make big bets heading into Friday's jobs report. The employment report could be pivotal for the market rally attempt. But a negative jobs report reaction could send the indexes tumbling toward their bear market lows again.
AU Market Watch
Australia's $S&P/ASX 200 (.XJO.AU)$ is set to fall at the open after a rally on Wall Street peters out as investors absorb the effects of interest-rate hikes. ASX futures are down 0.7%. Australia's benchmark closed flat yesterday, with strength in energy stocks offset by broad-based weakness across the market.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.56 per cent to 6779.2 as of 10:37 am.
Stocks to Watch
$Stanmore Resources Ltd (SMR.AU)$ :Stanmore Resources has completed the acquisition of the remaining 20 per cent interest in BHP Mitsui Coal, now renamed Stanmore SMC. The final price was $US270 million after adjusting for SMC dividends paid to date, which has been paid in full.
$Telstra Group Ltd (TLS.AU)$ : Telstra said authorisation granted by the Australian Competition and Consumer Commission on September 15 to enable Telstra and NBN Co to amend their definitive agreements came into force today.
$Seven Group Holdings Ltd (SVW.AU)$ : Seven Group Holdings has priced its offer of $250 million senior exchangeable notes maturing in 2027. The notes have a fixed coupon of 4.625 per cent per annum and be exchangeable into fully paid ordinary shares of Boral at an initial exchange price of $3.77, which represents a premium of 30 per cent. Settlement is expected on October 18.
$IPH Ltd (IPH.AU)$ :IPH has completed the acquisition of the business of Smart & Biggar as announced on August 18.
$Allkem Ltd (AKE.AU)$ : Allkem receives a $US200 million loan from the International Finance Corporation to finance its wholly-owned Sal de Vida project in the Catamarca province of Argentina.
Ex-dividend: $COSOL Ltd (COS.AU)$ , $MFF Capital Investments Ltd (MFF.AU)$ , $Elanor Retail Property Fund (ERF.AU)$
Dividends paid: $AUB Group Ltd (AUB.AU)$ , $Lindsay Australia Ltd (LAU.AU)$ , $Cleanaway Waste Management Ltd (CWY.AU)$ , $Austco Healthcare Ltd (AHC.AU)$ , $Lycopodium Ltd (LYL.AU)$ , $CTI Logistics Ltd (CLX.AU)$ , $360 Capital Group (TGP.AU)$ , $Vita Life Sciences Ltd (VLS.AU)$ , $Humm Group Ltd (HUM.AU)$ , $LaserBond Ltd (LBL.AU)$ , $Shine Justice Ltd (SHJ.AU)$
Commodities:
• Iron ore futures rose 0.05% to US$95.75 a tonne
• Oil prices extended gains, with Brent crude up 11.1% in the last four sessions
"It is getting hard to bet against higher crude prices. This week's OPEC+ decision was a game changer for the oil market, as it signals tight conditions will remain throughout this winter," said Oanda senior market analyst, Ed Moya
•Gold prices softened in the face of more hawkish Fed speak but still above US$1,700
•Gold prices softened in the face of more hawkish Fed speak but still above US$1,700
"Gold is entering consolidation mode as traders await nonfarm payrolls. The lead up to NFP Friday saw a mixed round of employment readings that has many bullion investors on standby. A hot labor market and strong wages could keep the bond market selloff going and should decide what will be gold's next major move," said 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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