Join our daily newsletter At The Bell to receive exclusive market insights
ASX today – The ASX is expected to open higher today after Wall Street rebounded overnight.
ASX 200 futures are pointing 0.4 per cent higher at 8,979 after the benchmark fell 0.97 per cent to 8,978.40 yesterday, setting a new 20-day low. The index has lost 1.64% for the last five days but sits 3.42% below its 52-week high.
Wall Street rose across the board after treasury yields stabilised, big technology companies reported strong gains.
The S&P 500 Index rose 0.46 per cent to 7,666.60 points, the Dow Jones was up 0.56 per cent to 53,061.95 and the Nasdaq was up 0.45 per cent to 26,217.83.
US stocks rose on Wall Street on gains by big technology companies, while relatively steady oil prices and bond yields helped lift the market after a downbeat start to the week.
Meanwhile, the Electric Vehicle Council says new EV sales data suggests Australians are making a structural shift away from petrol towards electric vehicles.
“The sustained growth in monthly and annual EV sales points to a structural shift in Australia’s car market,” CEO, Julie Delvecchio, said.
“EVs are not only close to or at price parity with petrol cars, but Australians are also increasingly looking beyond the purchase price to what a vehicle will cost them over the years they own it. They are choosing electric vehicles to cut both their household bills and emissions.”
On the market news front:
Askari Metals (ASX: AS2) is ramping up Uis critical metals project exploration;
Bhagwan Marine (ASX: BWN) secures multi-year contract for Riverside Guardian vessel
Sun Silver (ASX: SSI) intersects broad silver-antimony mineralisation at Maverick;
Corazon Mining (ASX: CZN) identifies resource growth potential with Chalice exploration; and
Many Peaks Minerals (ASX: MPK) confirms depth extensions potential for Ouarigue prospect.
Buck and ore
Now – in forex, the Oz dollar is buying US$0.716
Looking at commodities, all in the greenback,
Iron Ore was down 1.62 per cent to $97.72 per tonne in Singapore today,
Brent Crude was up 0.54 per cent to $95.165 per barrel,
Gold was selling at $4387.78,
US natgas futures were up 3.26 per cent to $2.9986 per gigajoule.
That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.
Join the discussion: See what HotCopper users are saying right now and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
