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It’s set to be a bleak start to trade on the ASX200, futures tipping it’ll head down 0.88%, as fears rise there’ll be an interest rate hike after inflation came in at 4 per cent yesterday.
At the very least, that news has pushed out analysts’ predictions around the timing of any rate cut.
All three US markets closed slightly ahead overnight. Tech stocks shone brightest, with Amazon exceeding a $2 trillion market cap on good news delivered by companies in which it holds interests.
Back home, quarterly job vacancies data is due out from the Australian Bureau of Statistics later this morning.
There are reports that Qatar Airlines could acquire a 20% stake in Virgin Australia – this comes as there have been delays for Virgin’s ASX-listing.
ASX-listed gas play Tamboran Resources Corporation (ASX:TBN) will begin trade on the New York Stock Exchange tonight. It’s American IPO was priced at US$24 a share, raising US$75 million to develop the Beetaloo Basin in the Northern Territory. Existing shareholders, including an affiliate of oil and gas tycoon Bryan Sheffield, and Liberty Energy, have pledged US$20 million.
Baby Bunting (ASX:BBN) has re-affirmed its FY24 NPAT guidance, expecting it to land between $2 million and $4 million after its sales this month and in May were up a per cent.
And Gascoyne region lithium explorer, Zeus Resources (ASX:ZEU) is hoping its ASX-imposed suspension to trade might be lifted after it announced a $550,000 capital raising.
One Australian dollar is buying US66.4 cents.
Iron Ore’s holding just below US$106.50 a tonne, Gold is down 0.9% to US$2298.50 an ounce; brent crude’s at US$85 a barrel and natural gas is down more than 4.5% to $2.72.
