AU Morning Wrap: ASX Pushes Higher; Core Lithium, Weebit Nano Rally

A pullback in megacap technology stocks deepened Thursday, dragging the $Nasdaq Composite Index(.IXIC.US)$ into its worst two-day decline of the year.

The tech-heavy index dropped 1.8 per cent, while the $S&P 500 Index(.SPX.US)$ shed 1.2 per cent. The $Dow Jones Industrial Average(.DJI.US)$ declined around 250 points, or 0.8 per cent.

The $S&P/ASX 200(.XJO.AU)$ opened 24 points, or 0.4 per cent, higher at 6837. The All Ordinaries is 0.3 per cent higher.

Consumer staples are the best performing, up 1 per cent, buoyed by a 2.1 per cent gain in $Coles Group Ltd(COL.AU)$. Energy stocks are the worst hit, down 0.3 per cent, following declines in the oil price overnight. The tech sector is also tilting lower, after a slide in US tech giants sent the S&P 500 to its lowest point since May.

$Harvey Norman Holdings Ltd(HVN.AU)$: Harvey Norman has reported a 49.1 per cent hit to its September quarter profits. Shares are down 2.4 per cent to $3.46.

$ResMed Inc(RMD.AU)$: ResMed is 2.6 per cent to $21.88. Higher costs in the quarter have squeezed the health tech's margins tighter.

$Core Lithium Ltd(CXO.AU)$: Core Lithium is 4.3 per cent higher at 36.5c after disclosing price and production figures from the September quarter.

$Weebit Nano Ltd(WBT.AU)$: Weebit Nano is 3.9 per cent higher to $3.97 after saying the semiconductor company said it was on track to achieve first revenues in calendar year 2023

Dividends Paid: $A2B Australia Ltd(A2B.AU)$, $Ridley Corp Ltd(RIC.AU)$, $Australian Unity Office Fund(AOF.AU)$

Listing: $Newmont Corp(NEM.AU)$, $Chariot Corp Ltd(CC9.AU)$