The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

The ASX 200 is set to be down 0.44 percent this morning, influenced by a mixed night on US markets, ahead of key inflation data from that country which may make a stronger case for a rate cut from the Federal Reserve later on this year.

The story was mainly a divided one: a fall in bond yields earlier in the night raised expectations that this data might prompt the Fed to cut, but the subsequent losses in equities were however, made up later in the night.

The S&P 500 was up 0.1 percent in the afternoon session, the Dow Jones lost more than 100 points, while the Nasdaq rose to a new record high, lifting by 0.6 percent.

Tech stocks were still up, with Apple shares rising to a record high – up more than 6 percent – one day after the company introduced new AI features to increase the appeal of its devices. Meanwhile, Tesla was down 2.4 percent, Microsoft was up 0.9 percent, while Nvidia fell 0.8 percent. and Amazon.

On the ASX, Sky City Entertainment Group Ltd announced that an independent review into Sky City Adelaide Pty Ltd would recommence from June 11, helmed by the Honourable Brian Martin AO KC and ordered by the Acting South Australian Liquor and Gambling Commissioner for Consumer and Business Services.

Meanwhile, Emmerson Resources Ltd (ASX:ERM) confirmed a maiden high grade mineral resource estimate at its Eldorado project of 445 kilotonnes at 4.9 grams per tonne of gold for 69,800 ounces.

Finally, Global Lithium Resources Ltd (ASX:GL1) has noted a 43 percent Increase in the mineral resource for its Manna Lithium Deposit in Western Australia, which has risen to 51.6 million tonnes at1.0 percent lithium oxide (Li2O).

In forex, the AUD continues to buy 66 US cents.

Looking at commodities, brent crude is up +0.54% to US$82.07; uranium is down -3.55% to US$84.30/lb; copper has fallen -1.51% overnight to US$4.52/lb; iron ore has fallen -1.01% to US$107.38/tn, while silver is down -1.46% to $29.28 per ounce.

More From The Market Online
The Market Online Video

ASX Market Close: Consumer Discretionary rises ahead of interest rates decision | June 14, 2024

The ASX200 is down a third of a per cent to close the week. All sectors…
The Market Online Video

ASX Market Update: ASX slips 0.3%, Discretionary is the only sector to rise | 14 June, 2024

The ASX200 is trading down around 0.3%. The discretionary sector has made gains of 0.3%, all…

Week 24 Wrap: US contagion sentiment not so contagious; iron ore remains pressured

It was, overall, a lacklustre week for the ASX. We only saw one green day on…
The Market Online Video

Geology is King: Sun Silver says Maverick Springs will outshine high-grade Australian mines

Sun Silver Ltd (ASX:SS1) is seeking gold, silver and pathfinder elements at their Maverick Springs project…