AU Morning Wrap: ASX Falls; Santos Leaps 7%
G'day, mooers! Check out the latest news on today's stock market!
• Tech shares power US stock market higher
• ASX falls; Santos leaps 7%
• Stocks to watch: Woodside Energy, Genex Power, SkyCity
- Moomoo News AU
Wall Street Summary
Stocks resumed their climb Thursday, led by the shares of big technology companies that have powered the market for much of the year.
The $S&P 500 Index (.SPX.US)$ was up 0.8 per cent, closing near its high for the year. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ rose 1.4 per cent, and the $Dow Jones Industrial Average (.DJI.US)$ gained 0.2 per cent.
After a big November rally fueled by encouraging inflation data, stocks had mostly stalled to start December. The rally was back on Thursday thanks to more artificial intelligence speculation, a driver of this year's gains.
AU Market Watch
Utilities dragged Australian shares lower minutes after the start of trading on Friday, defying a strong session on Wall Street buoyed by a tech rally.
Only two sectors, miners and energy, out of the benchmark's 11 categories were flashing green. Communications, financials and discretionary fell sharply.
The $S&P/ASX 200 (.XJO.AU)$ opened 25 points, or 0.4 per cent lower, at 7148.30. The All Ordinaries retreated 0.3 per cent.
Stocks to Watch
$Woodside Energy Group Ltd (WDS.AU)$: Woodside Energy skidded 2.6 per cent but $Santos Ltd (STO.AU)$ leapt 7 per cent after the two companies confirmed there were in talks on a potential $80 billion merger of their businesses.
$Genex Power Ltd (GNX.AU)$: Energy player Genex Power rallied 1.2 per cent after locking in a long-term power sales deal with Queensland state generator Stanwell Corporation that covers half of a new wind farm in the state's north.
$Ramsay Health Care Ltd (RHC.AU)$: Ramsay Health Care fell 0.9 per cent after the Australian Foreign Investment Review's approval to sell its 50-50 Asian joint venture to Columbia Asia Healthcare.
$SkyCity Entertainment Group Ltd (SKC.AU)$: Sky City Entertainment Group dropped 3.2 per cent after lowering revenue guidance for fiscal 2024 due to weaker gaming gains in New Zealand and a softer performance in Adelaide.
$Washington H Soul Pattinson & Co Ltd (SOL.AU)$: Washington H Soul Pattinson retreated 1.2 per cent after posting a negative return of 0.4 per cent in its first quarter ending in October.
Trading Ex-div: None
Listing: None
Economic Calendar (AEST):
1:20 pm: RBA Brischetto Speech
12:00 am: US Unemployment Rate (Nov)
2:00 am: US Consumer Confidence (Dec)
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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