TMH Market Open: ASX200 set to claw back some losses

The ASX200 is expected to recover some of the losses of the past two sessions, to open about 0.3 per cent higher this morning.

US markets were mixed overnight. The Nasdaq dipped another quarter of a per cent, with another downgrade for Apple. Apple (NASDAQ:AAPL) shed another 1.25 per cent after investment bank Piper Sandler lowered its rating to ‘neutral’. 

The Dow Jones closed up more than 0.2 per cent and the S&P 500 held relatively flat.

Australian stocks to watch this morning include: 

• Core Lithium (ASX:CXO), which has paused mining at its Finniss operations in the Northern Territory as it struggles due to lower commodity prices and cost pressures;

• Radiopharmaceutical and cancer imaging company Telix Pharmaceuticals (ASX:TLX), which is looking to dual-list on the Nasdaq;

• And, hydrogen plays, including Woodside Energy Group (ASX:WDS) and Fortescue (ASX:FMG), on word mooted rule changes could exclude their projects from qualifying for Inflation Reduction Act funding. 

Woodside and other oil giants including Ampol (ASX:ALD) and Santos (ASX:STO) have rallied this week, but with oil prices pulling back half a per cent overnight, it’ll be interesting to watch these companies’ performance on market this morning.

And there are media claims this morning that talks are underway around the potential merger of BlueBet Holdings (ASX:BBT) and private company BetR.

BlueBet’s turnover was above $535 million for the last financial year, while BetR’s turnover is estimated to be closer to $2 billion.

The companies have made no announcements in relation to the speculation.

Dollar & commodities

One Australian dollar is buying US67 cents and Bitcoin has rebounded to $66,218.

Iron ore is at US$145 a tonne, crude oil has been around US$72.34, gold is above $2043 and natural gas is up nearly 7 per cent to $2.84.

That’s Market Open for Friday, January 5. Happy trading.