AU Morning Wrap: Miners lift ASX shares; Macquarie neutral on Block, Latitude
G'day, mooers! Check out the latest news on today's stock market!
• Nasdaq hits fresh 2-year low, JP Morgan CEO's recession warning
• Australian shares open higher on Tuesday, ASX 200 up 0.52 per cent
• Stocks to watch: Viva Leisure, Cettire, Helloworld
- moomoo News AU
Wall Street Summary
US stocks have fallen, with the Nasdaq posting its lowest close since July 2020, as investors worried about the impact of higher interest rates and pulled out of chipmakers after the United States announced restrictions.
US stocks have fallen, with the Nasdaq posting its lowest close since July 2020, as investors worried about the impact of higher interest rates and pulled out of chipmakers after the United States announced restrictions.
Shares of $NVIDIA (NVDA.US)$ fell 3.4 per cent, while $Qualcomm (QCOM.US)$, $Micron Technology (MU.US)$ and $Advanced Micro Devices (AMD.US)$ also ended lower.
Investors were also cautious ahead of the US third-quarter earnings season, which is set to kick off on Friday with results from some of the major banks.
The $Dow Jones Industrial Average (.DJI.US)$ on Monday fell 93.91 points, or 0.32 per cent, to 29,202.88, the $S&P 500 Index (.SPX.US)$ lost 27.27 points, or 0.75 per cent, to 3,612.39 and the $Nasdaq Composite Index (.IXIC.US)$ dropped 110.30 points, or 1.04 per cent, to 10,542.10.
AU Market Watch
A 1.1 per cent gain for the materials sector has helped the $S&P/ASX 200 (.XJO.AU)$ to a 0.52 per cent gain in early trade. The tech sector is the only sector lower, down 0.1 per cent.
AU Market Watch
A 1.1 per cent gain for the materials sector has helped the $S&P/ASX 200 (.XJO.AU)$ to a 0.52 per cent gain in early trade. The tech sector is the only sector lower, down 0.1 per cent.
Lithium miner $Allkem Ltd (AKE.AU)$ is up 2.5 per cent, with rare earths producer $Lynas Rare Earths Ltd (LYC.AU)$ lifting 2.2 per cent.
Stocks to Watch
$Telstra Group Ltd (TLS.AU)$: Telstra's new chief executive Vicki Brady has told its annual general meeting it expects financial 2023 free cashflow of $1.1 billion, which is lower at the mid-point of guidance for financial 2022.
Stocks to Watch
$Telstra Group Ltd (TLS.AU)$: Telstra's new chief executive Vicki Brady has told its annual general meeting it expects financial 2023 free cashflow of $1.1 billion, which is lower at the mid-point of guidance for financial 2022.
$Viva Leisure Ltd (VVA.AU)$: Gym operator Viva Leisure has told investors it expects to grow EBITDA more than five-fold in financial 2023 to between $28 million and $30 million.
That's on sales of up between 51 per cent and 54 per cent to between $137 million and $140 million.
$Cettire Ltd (CTT.AU)$: Luxury fashion retailer Cettire says it made adjusted EBITDA of $5.5 million in the September quarter after a jump in sales.
Sales for the three-month period climbed 72 per cent to $66.1 million.
$Helloworld Travel Ltd (HLO.AU)$: Travel business Helloworld says total transaction value soared 352 per cent in the September quarter to $561 million, versus the prior corresponding quarter.
It said EBITDA for the September quarter finished at $5.3 million on sales up 174 per cent to $29.3 million.
$Block Inc (SQ2.AU)$: Broker $Macquarie Group Ltd (MQG.AU)$ has looked at the latest app traffic for buy now, pay later businesses and retained neutral ratings on Afterpay-owner $Block Inc (SQ2.AU)$ and lender $Latitude Group Holdings Ltd (LFS.AU)$.
Ex-dividend: $Turners Automotive Group Ltd (TRA.AU)$, $Reece Ltd (REH.AU)$
Dividends paid: $Pacific Current Group Ltd (PAC.AU)$, $Imdex Ltd (IMD.AU)$, $Ramelius Resources Ltd (RMS.AU)$, $Chorus Ltd (CNU.AU)$, $E&P Financial Group Ltd (EP1.AU)$, $Cronos Australia Ltd (CAU.AU)$
Commodities
• Iron ore futures fell 0.4% to US$97.5 a tonne.
$Block Inc (SQ2.AU)$: Broker $Macquarie Group Ltd (MQG.AU)$ has looked at the latest app traffic for buy now, pay later businesses and retained neutral ratings on Afterpay-owner $Block Inc (SQ2.AU)$ and lender $Latitude Group Holdings Ltd (LFS.AU)$.
Ex-dividend: $Turners Automotive Group Ltd (TRA.AU)$, $Reece Ltd (REH.AU)$
Dividends paid: $Pacific Current Group Ltd (PAC.AU)$, $Imdex Ltd (IMD.AU)$, $Ramelius Resources Ltd (RMS.AU)$, $Chorus Ltd (CNU.AU)$, $E&P Financial Group Ltd (EP1.AU)$, $Cronos Australia Ltd (CAU.AU)$
Commodities
• Iron ore futures fell 0.4% to US$97.5 a tonne.
"Daily crude steel output among the member mills of the China Iron & Steel Association finally eased over 21-30 September after steadily rising since early August," Mysteel reported.
Daily output during the last ten days of September fell 0.6% to average 2.13 million tonnes a day.
• Oil prices snapped a five-day winning streak as demand concerns kick on.
• Gold continues to sink, down 3.3% in the last four sessions.
"The yellow metal is on course for the fourth day of losses amid a resurgent greenback and dwindling faith in slower monetary tightening," said Oanda senior market analyst, Craig Erlam
Source: Dow Jones Newswires, AFR
Daily output during the last ten days of September fell 0.6% to average 2.13 million tonnes a day.
• Oil prices snapped a five-day winning streak as demand concerns kick on.
• Gold continues to sink, down 3.3% in the last four sessions.
"The yellow metal is on course for the fourth day of losses amid a resurgent greenback and dwindling faith in slower monetary tightening," said Oanda senior market analyst, Craig Erlam
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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