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The ASX200 is set to open 0.44% higher today, despite weak performances on Wall Street after US Federal Reserve Chair Jerome Powell suggested rates would not be cut anytime soon.
The S&P 500 and Nasdaq both fell 0.6% on Thursday, while the Dow dropped 207 points, as investors responded to both Powell’s comments – made in Dallas – and two key pieces of data. The producer price index for October showed a 0.2% rise – meeting expectations – though core PPI was higher than forecasts, while the consumer price index for October also aligned with expectations but suggested ongoing inflation pressures.
On the ASX, Auric Mining Ltd (ASX:WJ) has reported an assay grading more than 10 grams per tonne from reverse circulation drilling at the Fugitive prospect, as part of a program targeting this and also the Anomaly 37 prospect – both part of its Spargoville Gold Project in Western Australia.
And Neurotech International Ltd (ASX:NTI) said patients taking part in clinical trials for its cannabinoid drug therapy NTI164 to treat Paediatric Autoimmune Neuropsychiatric Disorders Associated with Streptococcal Infections (PANDAS) and Paediatric Acute-Onset Neuropsychiatric Syndrome (PANS) showed a reversal of immune system dysregulation.
To commodities – all in US $ here: Iron ore is $102.88 on the Singapore Exchange, gold’s trading at $2565, Brent crude is $72.42 & natural gas is $2.76 a gigajoule.
One Aussie dollar is buying just under 65 US cents.
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