AU Morning Wrap: ASX Opens Flat, Miners Lead Gains
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 rebounds after worst day since September
• ASX opens flat, miners lead gains
• Stocks to watch: Synlait Milk, Genex Power, Lynas Rare Earths
- Moomoo News AU
Wall Street Summary
Stocks rose Thursday, putting the $S&P 500 Index (.SPX.US)$ back on track for its eighth consecutive week of gains.
The benchmark index rose 1 per cent. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ advanced 1.3 per cent. The blue-chip $Dow Jones Industrial Average (.DJI.US)$ gained 0.9 per cent, or about 322 points. All three indexes are up so far this week.
All 11 sectors within the S&P 500 ended Thursday higher. Consumer-discretionary stocks were the top performer, rising 1.4 per cent. Utilities were the day's laggard, gaining 0.1 per cent.
AU Market Watch
Australian shares opened with a subdued tone, defying a rebound on Wall Street that boosted sentiment ahead of the four-day Christmas break.
The $S&P/ASX 200 (.XJO.AU)$ was unchanged at 7504 at the opening bell, with five out of 11 sectors showing gains. The index is just 128.7 points away, or 1.7 per cent, from a record high set in 2021. The All Ordinaries was also flat.
The ASX will be closed on Monday and Tuesday for Christmas Day and Boxing Day. Trading will resume on Wednesday.
Stocks to Watch
$Synlait Milk Ltd (SM1.AU)$: Synlait Milk dropped 4.3 per cent after warning that increased borrowing costs and changes in margins would probably drive its half-year net profit lower amid an ongoing dispute with a2 Milk.
$The a2 Milk Co Ltd (A2M.AU)$: a2 Milk Company was unchanged after affirming fiscal 2024 guidance despite its commercial disagreement with Synlait.
$Genex Power Ltd (GNX.AU)$: Genex Power jumped 3 per cent and Fortescue Metals rallied 1.1 per cent. Both companies have agreed to extend the deadline of their power purchase agreement to late February 2024.
$Brickworks Ltd (BKW.AU)$: Brickworks edged up 0.3 per cent after posting a 5 per cent gain in its average capitalisation rate in the first half of fiscal 2024.
$Lynas Rare Earths Ltd (LYC.AU)$: Lynas Rare Earths leapt 5.7 per cent, shrugging off a China export ban on some rare earth processing technology.
$Waypoint REIT Ltd (WPR.AU)$: Waypoint slumped 1.2 per cent after its real estate portfolio value declined 5 per cent in the six months to December.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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