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ASX today − Friday’s brutal sell-off across the ASX is (slightly) dragging into the new trading week, with Australian shares now facing a -0.2% open this morning after wiping away more than $37 billion in value by close at the last bell.
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The ASX is well and truly struggling at the moment, and has sagged to its worst performance since mid-July after the U.S. shutdown ended.
Much of the “data fog” that has drifted from the States has kept investors skittish, with many selling out when they can. While there are spots with green, overall, it may be another largely down-trending week Down Under.
Everything could flip around again if we actually get some U.S. econ data, of course. The first chance is Thursday; labour figures are expected.
Nvidia’s Wednesday results may move global markets as well, with the AI superpower standing as a sharp bellwether for most tech these days. (Even its $4.6 billion market cap hasn’t kept it from volatility recently.)
And now, let’s take a look at Monday’s incoming company news.
ASX stocks to watch
This week has already seen an early twist in the Woodside Energy (ASX:WDS) North West Shelf tale, with a U.N. special rapporteur joining the three Federal Court cases relating to the LNG project’s life extension. The “surprise intervention” will put a sharp spotlight on Australia’s agreed international obligations.
Elsewhere, FleetPartners (ASX:FPR) has purchased salary packaging provider Remunerator for $31.4 million as it looks to solidify its position in leasing markets. The deal should “open new growth channels,” FleetPartners declared today.
Earnings roll on, too, with FleetPartners sharing its quarterly results today, as is Elders (ASX:ELD). Later this week: Web Travel (ASX:WEB) and ALS (ASX:ALQ).
Black Horse Mining will become the latest ASX debutant through this week, too, with its float pencilled in for Friday, November 21. The explorer is looking to raise $8 million and will open offerings under “BHL” at 20cps.
Standout stats coming up include the wage price on Wednesday.
And we’ll get RBA minutes on Tuesday, too.
Buck and ore
Now – in forex, the Oz dollar buys 65.3 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore has slipped -0.3%, to $102.50 a tonne in Singapore,
Brent Crude advanced +2.2%, to $64.39/bbl,
Gold heads into the week holding, today selling at $4,087 an ounce, and,
US natgas futures are down -1.7%, at $4.56 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
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