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Palantir
-- 79.220 AU Morning Wrap: ASX Rises; BHP, Fortescue Shares Rally
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 enters official bull market
• ASX rises, miners rally over 1%
• Stocks to watch: Fortescue Metals, WiseTec, BHP
- Moomoo News AU
Wall Street Summary
U.S. stocks rose Thursday, ending the $S&P 500 Index (.SPX.US)$'s longest bear market since the 1940s and marking the start of a new bull run.
The broad index powered higher over the past few months, in large part because of a handful of companies posting outsize gains.
Many of those same stocks, including Amazon.com, Tesla and chip maker Nvidia, led the market's advance Thursday.
That helped propel the S&P 500 up 0.6%, allowing the index to finish up 20% from its October low.
The $Nasdaq Composite Index (.IXIC.US)$ climbed 1% and the $Dow Jones Industrial Average (.DJI.US)$ rose 0.5% to 33833.
AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ rose 0.2 per cent, or 11.1 points to 7118.2 at market open, led by gains in mining and technology stocks.
Materials were the best performing sector, up 1.2 per cent. $BHP Group Ltd (BHP.AU)$ shares rallied 1.2 per cent. $Fortescue Ltd (FMG.AU)$ rose 1.5 per cent. $Rio Tinto Ltd (RIO.AU)$ added 0.5 per cent. $Evolution Mining Ltd (EVN.AU)$ rose 1.8 per cent. $Mineral Resources Ltd (MIN.AU)$ rose 1.8 per cent.
Technology stocks were also in the green. $WiseTech Global Ltd (WTC.AU)$ shares increased 1.4 per cent. $Xero Ltd (XRO.AU)$ rose 0.5 per cent. $Megaport Ltd (MP1.AU)$ added 1.1 per cent.
Energy was the worst performing sector. $Woodside Energy Group Ltd (WDS.AU)$ lost 0.6 per cent. $Santos Ltd (STO.AU)$ dropped 1.1 per cent. $Yancoal Australia Ltd (YAL.AU)$ shed 1.1 per cent.
Stocks to Watch
$Fortescue Ltd (FMG.AU)$: has announced that Jennifer Morris will vacate her position on the board. Morris was first appointed to the board in November 2016.
"Her experience has been valuable in guiding the Board in its decision making over the past six years," chairman Andrew Forrest said in a statement. "We wish her all the very best for the future."
The iron ore miner also announced that board member Elizabeth Gaines will be stepping into the role of executive director.
$Starpharma Holdings Ltd (SPL.AU)$: Starpharma chief executive officer Dr Jackie Fairley has announced her retirement. Fairley has been in the position since 2006. The pharmaceutical company says it will commence a global search for her replacement.
$MoneyMe Ltd (MME.AU)$: MoneyMe says it has raised $4.3 million through a share purchase plan. It comes as the loan lender made a $32 million repayment of their SocietyOne acquisition last month.
Listing: None
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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