AU Morning Wrap: ASX Up Amid Miners' Rise; Life360 Launches on Nasdaq
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500, Nasdaq take a pause after climbing to records
• ASX up amid miners' rise; Life360 launches on Nasdaq
• Stocks to watch: Life360, GQG Partners
Wall Street Summary
US stocks took a breather after the S&P 500 and the Nasdaq Composite climbed to records yesterday as investors await a key jobs data that could help convince the U.S. Federal Reserve to start cutting interest rates in the next few months.
The $S&P 500 Index (.SPX.US)$ closed almost flat at 5352.25, while the $Nasdaq Composite Index (.IXIC.US)$ slipped less than 0.1% to 17173.12. $NVIDIA (NVDA.US)$, which fueled the indexes' rally to a record Wednesday, slipped Thursday, as investors awaited the 10-for-1 stock split set to be implemented after close tomorrow. The $Dow Jones Industrial Average (.DJI.US)$ gained 0.2% to 38886.17.
AU Market Watch
Australian shares rose 0.2% amid gains in the mining sector, driven by rising iron ore, lithium, and coal prices. However, the healthcare and tech sectors have struggled, offsetting some of the gains.
Iron ore major $Fortescue Ltd (FMG.AU)$ saw a 1.8% rise to $24.49, while $BHP Group Ltd (BHP.AU)$ increased by 1.1% to $44.55.
Among the gold miners, Regis and Bellevue Gold saw significant gains, with $Regis Resources Ltd (RRL.AU)$ up by 3.2% to $1.90 and $Bellevue Gold Ltd (BGL.AU)$ up by 3% to $2.03.
ASX 200 futures are currently trading at 7,857.5, up 6 points, indicating a 0.08% increase.
Commodity
Spot gold rose by 0.8% to $US2373.48/oz at 3.43pm in New York
Brent crude increased by 1.9% to $US79.89 a barrel
Iron ore decline by 1.9% to $US108.80 a tonne.
Crypto
As of latest data, $Bitcoin (BTC.CC)$ is priced at $70,753, down by 0.54% in the past 24 hours, while $Ethereum (ETH.CC)$ is priced at $3,812, down by 1.48% in the past 24 hours.
Stocks to Watch
$Life360 Inc (360.AU)$ has launched a secondary listing of shares on the Nasdaq index in the US at $US27 per share. The company's app, which provides location-based services and family safety features, now has more than 66.2 million monthly active users.
US-based international equities manager $GQG Partners Inc (GQG.AU)$ has reported a rise in its total assets from $US142 billion as at April 30 to $US150.1 billion as at May 31.
Economic Calendar (AEST)
1:00 pm: China Balance of Trade (May)
4:00 pm: Germany Balance of Trade (Apr)
10:30 pm: Canada Unemployment Rate (May)
10:30 pm: US Non Farm Payrolls (May)
10:30 pm: US Unemployment Rate (May)
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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