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US inflation data came in higher than tipped, rattling the markets over there, with the ripple effect expected to reach the ASX200 today.
Futures predict the local share market will shed 1.5 per cent for Valentine’s Day.
The Nasdaq tumbled nearly 2.5 per cent; the S&P 500 fell about two per cent and the Dow Jones followed suit, tripping 1.8 per cent.
US inflation rose to 3.1 per cent, which exceeded the 2.9 per cent forecast, making a May interest rate cut less likely.
Reporting season continues with Commbank, Fletcher Building, Seek and business and investment giant Seven Group Holdings.
Commbank’s the big one today…and it’ll be interesting to see market reaction to its first-half NPAT being down eight per cent on the same time last year. It’s still found a way to pay a higher interim dividend of $2.15 per share, fully franked.
In other stocks to watch: Optiscan Imaging (ASX:OIL) has received a $3 million Cooperative Research Centres Projects grant from the Department of Industry, Science and Resources to develop on its Edge-AI-enabled gastrointestinal endomicroscope.
And, New Zealand Oil & Gas (ASX:NZO) as well as Horizon Oil (ASX:HZN) have each bought a larger stake in the Mereenie gas field in the Northern Territory – a further 25 per cent equity interest each. It follows the announcement of an offtake deal with Arafura Rare Earths (ASX:ARU) yesterday.
Cryptocurrency traders are eyeing a new Bitcoin record – and it’s getting closer to the A$88K peak. This morning it’s been sitting just under the A$77K.
The Aussie dollar is buying 65 US cents.
Iron ore is trading at US$128. Gold has dipped 1.3 per cent to US$1993, crude oil has lifted a per cent to just below the $78 mark, and natural gas is down, sliding nearly six per cent to below $1.70.
