Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 is set to open 0.2% lower today, despite all three US bourses ending green on Monday, after comments from US Federal Reserve chair Jerome Powell acknowledged the possibility of further rate cuts this year.
The S&P 500 closed at a record high, registering an increase of 0.4%, while the Nasdaq gained the same, and the Dow Jones closed slightly higher. Speaking at the National Association for Business Economics, Powell stated that the Fed doesn’t follow a preset path, but he indicated that two quarter-point rate cuts were still possible this year.
On the ASX, Qatar Airways is set to take on a 25% interest in Virgin Australia from its private equity owner Bain Capital, potentially turning the flyer into a rival for Qantas. According to the deal – which will need approval from the FIRB (Foreign Investment Review Board) – Virgin will use Qatar planes to launch its own long-haul journey options to Europe.
Sun Silver Ltd (ASX:SS1) has found silver grading up to 440 grams per tonne at its Maverick Springs project in Nevada through drilling guided by pXRF (portable X-ray fluorescence) analysis.
To commodities, which are in US dollars: gold is at $2633.49 an ounce, iron ore is at $92.98 on the Singapore Exchange, brent crude’s at $71.91, and natural gas is just under $2.90 a gigajoule.
One Aussie dollar is buying 69.2 US cents.
-1200x645-380x200.jpg)
-1200x645-380x200.jpg)
