AU Morning Wrap: ASX Slides; Gold and Oil Slip
G'day, mooers! Check out the latest news on today's stock market!
• Wall Street reset record high
• ASX slides; Gold, oil slip
• Stocks to watch: Fisher & Paykel Healthcare
![AU Morning Wrap: ASX Slides; Gold and Oil Slip](https://ussnsimg.moomoo.com/feed_image/151000101/efe441ea1efa3dcd8d6d2bdaeacbd184.webp/bigmoojpg)
Wall Street Summary
Markets climbed after investors watched Fed President Jerome Powell unveil the median target Federal Funds rate of 4.6% by year-end. A day later, stocks were still hitting all-time highs: if the market loves anything, it's predictability.
The $S&P 500 Index (.SPX.US)$ climbed past a record by 0.32% to its 20th record close this year. The $Dow Jones Industrial Average (.DJI.US)$ climbed 0.67% to a record close, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.20%, toward an all-time high.
AU Market Watch
Despite all three major benchmarks resetting record highs in New York, Australian shares opened lower. The S&P/ASX 200 Index fell by 0.1%, or 8.5 points, to 7773.5 at the beginning of the trading session. The decline was mainly due to energy and consumer discretionary stocks.
Energy stocks were weighed down by a drop in crude oil prices, which decreased by 0.6%. The fall in oil prices was attributed to a stronger US dollar, which outweighed optimism that the Federal Reserve would continue to cut interest rates this year.
Stocks to Watch
$Fisher & Paykel Healthcare Corp Ltd (FPH.AU)$ has updated its earnings guidance for financial year 2024 to be in the range of approximately $NZ260 million ($239.1 million) to $NZ265 million. The forecast is up from the company's previous net profit after tax projection of a range of $NZ250 million to $NZ260 million.
Listing: None
Economic Calendar (AEDT):
10:30 am: Japan Inflation Rate (Feb)
6:00 pm: UK Retail Sales (Feb)
8:00 pm: Germany IFO Business Climate (Mar)
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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JC7577 :![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
Skoljil : That's great!
Kakakala12 : Iron ore is also gone.![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
assailed : Expect another new high.