AU Morning Wrap: ASX Slips; Super Retail Rallies After Sales Increase

Moomoo News AU wrote a column · Jan 15 07:57

G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 index is in striking distance of its record high
• ASX slips; Super Retail rallies after sales increase
• Stocks to watch: Santos, Super Retail Group, Zenith Minerals
- Moomoo News AU

AU Morning Wrap: ASX Slips; Super Retail Rallies After Sales Increase

Wall Street Summary

The $S&P 500 Index (.SPX.US)$ overcame big declines in airline stocks and shares of companies that rely on discretionary spending Friday to inch closer to a new all-time high.

The benchmark stock index ended Friday less than 0.1 per cent higher, within 0.3 per cent of a record high that has stood for more than two years. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ also added less than 0.1 per cent. The $Dow Jones Industrial Average (.DJI.US)$ declined 0.3 per cent, or 118 points.

AU Market Watch

The Australian sharemarket slipped at the open after a subdued session on Wall Street ahead of a long weekend in the US.

The benchmark $S&P/ASX 200 (.XJO.AU)$ slipped 0.2 per cent, or 15.6 points, to 7482.7 at the start of trade. The US sharemarket is closed on Monday for the Martin Luther King Day holiday. Six out of the 11 sectors were in the red.

Stocks to Watch

$Santos Ltd (STO.AU)$: The Federal Court is expected to rule on Monday over whether Santos can proceed with a pipeline that is fundamental to its controversial $5.8 billion Barossa gas project in the Timor Sea, off the coast of the Northern Territory.

$Super Retail Group Ltd (SUL.AU)$: Super Retail Group rallied 2.2 per cent following the company’s latest trading update. It expects group first half revenue at $2 billion and first half profit before tax to be between $200 million and $203 million.

$Zenith Minerals Ltd (ZNC.AU)$: Zenith Minerals jumped 6.5 per cent after it appointed Azure Capital to run a review of its lithium business, which includes the Split Rocks and Waratah Well projects in Western Australia.

Trading Ex-div: None

Dividends Paid: None

Listing: $Infini Resources Ltd (I88.AU)$

Economic Calendar (AEST):

8:00 pm: Germany 2023 GDP Growth

Source: Dow Jones Newswires, AFR

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