TMH Market Open: ASX200 eyes flat start as U.S. Steel soars 25pc on Nippon bid

The ASX200 is expected to open fairly flat this morning, up by just six points (.08 per cent).

In the US overnight, the tech-led Nasdaq lifted .8 per cent, the S&P 500 just under .6 per cent and the Dow Jones ended the session flat.

Apple has dipped nearly a per cent after announcing it’s stopped sales of the Series 9 and Ultra 2 smartwatch in the U.S. amid a patent dispute over the product’s blood oxygen technology/readings. The U.S. International Trade Commission has found the product breaches medtech company Masimo’s patent rights and could impose an import ban.

U.S. Steel beamed more than 25 per cent on news Japan’s Nippon Steel Corporation made a nearly $15 billion acquisition bid. Equating to US$55 cash a share, the deal represents a 40 per cent premium and the companies pledge to together become ‘the best steelmaker in the world’. It’ll be interesting to see how local companies perform in the wake of the news.

And speaking of Japan, the Bank of Japan will today announce its interest rates decision at 2 pm AEDT.

While back home the Minutes of December’s Monetary Policy Meeting of the Reserve Bank Board are scheduled to be released at 11:30 am AEDT.

And medical imaging-tech healthcare company Enlitic (ASX:ENL) lists on the ASX this morning under the ticker code ENL after raising $21.5 million with 83 cent shares through the IPO process.  

The Aussie dollar is buying 67 US cents.

Iron ore is trading at $137; crude oil is up nearly two per cent to above $72.70, gold has lifted nearly half a per cent to $2026 and natural gas is sitting at $2.50, up half a per cent.