AU Morning Wrap: ASX Dips After Hot US CPI; Origin Drags Utilities Stocks

The $S&P 500 Index (.SPX.US)$ fell roughly 0.1 per cent, after ending Wednesday just 0.3 per cent below its record closing high set just over two years ago. The $Dow Jones Industrial Average (.DJI.US)$ ticked up around 15 points, or less than 0.1 per cent, while the $Nasdaq Composite Index (.IXIC.US)$ was essentially flat. All three indexes were still on track to post weekly gains after dropping in the first week of the year.

The $S&P/ASX 200 (.XJO.AU)$ opened the session 18 points, or 0.3 per cent, lower at 7487.1. The All Ordinaries is down by a similar margin.

$Healius Ltd (HLS.AU)$: Healius shares are the worst performing on the benchmark, down 5.4 per cent to $1.49 after being downgraded to underweight by Morgan Stanley. Likewise, $Alumina Ltd (AWC.AU)$ is down 3.5 per cent to $1.09 after being downgraded to a neutral rating by analysts at Citi.

$Origin Energy Ltd (ORG.AU)$: Origin Energy is 1 per cent lower at $8.24 as shares trade ex-dividend.

$Syrah Resources Ltd (SYR.AU)$: Graphite producer Syrah Resources says the ramp-up of its US project will be hampered by cold weather set to hit Louisiana next week but expects to begin production by the end of the month. Shares are up 2.9 per cent to 54¢.

$Nuix Ltd (NXL.AU)$: Nuix is 6 per cent lower at $1.98. The embattled software group is expecting to report a slip in earnings for first half FY24 results due to legal costs from its ongoing court battle with the Australian regulator ASIC.

$CZR Resources Ltd (CZR.AU)$: Lastly, Billionaire prospector Mark Creasy is set for another windfall after CZR Resources unveiled a deal to sell a long-stranded iron ore project to Chinese interests for $102 million. CZR shares are 8.3 per cent higher at 32.5¢.