ASX, S&P/ASX 200, Stock market, Stock The Opening Bell || Why is tech and energy rout putting pressure on ASX 200?

Holly here reporting live from Kalkine Studio., Thank god its friday folks, Youre watching TheOpeningBell. Lets take a look at how the Australian share market opened the trade session and todays key market drivers. To kick it off. The ASX opened lower as major Australian cities like Sydney and Melbourne battle. Another COVID, 19 outbreak. BNPL and energy players pulled down the strings of ASX 200.. On Thursday, a measure of global stock markets, slipped from near record, highs the US dollar inched up, while bond yields traded. Lower. Investors are pondering the Feds inflation outlook and upbeat assessment of the US. Economy. Wall Street slid to lower levels. Despite the four largest US consumer banks, declaring blockbuster second quarter results earlier this week that have beaten, analysts’ estimates., The number of people in America filing jobless claims benefits, fell to a 16 month low last week as the US jobs market steadily gained traction.. On the other hand, another set of data depicted thatimport prices rose in June 2021, but might have probably peaked. On Wall Street theDow Jones eked out. A 0.15 per cent gain, but theSampP 500 slid 0.33 per cent. AND TheNASDAQ Composite fell, 0.70 per cent. MeanwhileUS Treasury yields traded lower on Thursday to one week. Lows. US Feds, Chairman Jerome Powell, testified before Congress for the second day expressing that surging inflation would probably betransitoryand the US central bank would continue to support the economy.The benchmark 10 year. Yields fell six basis points on Thursday to 1.

297 per cent.. Well, while looking at the Australian market, open trades, BNPL players, Afterpay and Zip trended lower due to fear of competition from Apples potential entry into the sector. Other, IT players like Megaport and Altium, also slid., Then Evolution Mining was the top loser. Despite increasing its three year. Gold production forecast to 900000 ounces., On the other hand, Ingenia Group, Breville Group and Reece Limited advanced., Plus Fletcher, Building and Champion Iron ore, also soared. Moving on. Let us glance through the ASX sectoral charter. WellThe, Australian techn sharestraded lowerduring, the early trades taking cues from the weaker action of NASDAQ overnight.The NASDAQ ended lower on Thursday.. It was dragged down by heavyweights such as AmazonAppleand other big tech, companies., A downtick in weekly, jobless claims data, spiked investor concerns regarding a recent inflation, surge. Nuix and Nearmap slipped. Altium and Megaport also slid lower., While BNPL players, Afterpay and Zip continue to witness pressure. Amid reports that Apple Pay is set to launch a buy, now pay later product that will allow users to repay Apple Pay purchases in instalments over time. Talk about tough competition. Meanwhile, Australian Energy, majors Beach, Energy, Santos, Origin, Energy and Oil Search traded in the red zone. Amid oil price downtick. On Thursday oil prices dropped by more than a dollar per barrel, on expectations of more supply to hit the market. After a compromise deal between OPEC Plus member countries. Brent crude fell. 1.7 per cent whileUS West Texas, Intermediate WTI crude, fell 2.

2 per cent. NowLetus, move on to miners, space., Heavyweight miners, BHP Group, Rio, Tinto and Fortescue Metals traded in the red zone, while ferrous futures in China traded higher on Thursday. The most actively tradediron ore futurescontract. On the Dalian Commodity Exchangeclosed daytime trading 1.6 per cent up. MeanwhileLower than expected growth from top consumer China increased expectations for more policy support for the world’s second largest economy, resulting in higher copper prices.. Despite favourable commodity prices, ASX listed copper players, OZ, Minerals and Sandfire Resources traded in the red territory during the early trade hours today., Then in the yellow metal space, Newcrest Mining Evolution, Mining, Ramelius and Gold Road edged lower, even though Gold surged to a one month high On Thursday. US Feds, Jerome, Powell’s, dovish comments and some concerns regarding a deceleration in the global economic recovery, supported gold, prices. And nowitstime for a short break, but stay tuned. Asillbe back withmoreupdates for the Australian share. Market. Welcome back. This isHolly, your host live from Kalkine Studio. And you are watching the show. The Opening Bell. Moving onlet us look: atprominent ASX stocks under the spotlight during the earlytrades To begin with Evolution Mining slipped. Despite increasing its three year, gold production forecast to 900000 ounces. Investment in sustaining capital is forecast between 120 million to 150 millioninfinancial year2022, with major capital investments tipped between 440 million to 510 million.. Meanwhile, Crown Resorts remained under the spotlight post, releasing operational update on its gaming and accommodation, segments.

, The gaming and entertainment companyannounced that it had closed its Melbourne gaming, retail and dining facilities during the Sydneys five day lockdown., However, the hotel facilities remain open. Next on the list Of newsmakers isRio Tintoslippedon, updating quarterly production, dip. The iron ore playersaid thatits iron ore production fell 9 per centin. The second quarter from the corresponding period last year.The company expected iron ore shipments would be at the lower end of its guidance range.. The mined, copper and bauxite production was also expected to be at the lower end of guidance. And NZ is taking to the skies again as Auckland International Airport soared on serving higher international passengers.. The major airline hub in New Zealand said that the international passenger number increased by a whopping 468 per cent in June after quarantine. Free travel from Australia was permitted., ThenIngenia Group roseon guidance, upgrade., Leading Australian property groupsaid that it now expects earnings before interest and tax. To finish up 30 per centinfinancialyear 2021. Moving to the next stock, making the headlines, AMP Limited, traded, lower., Australian, Securities and Investments Commission announced it will take no further action over its probe into AMPs fees for no service criminal conduct.. The decision comes following consultation with the Commonwealth Director of Public Prosecutions.AMP, acknowledges the deficiencies in its historic systems and processes within the Advice business to monitor ongoing service fees in relation to the Buyer of Last Resort. Policy., Next Volpara Health Technologies. Asx VHT was granted another patent by the European Patent Office.

. This takes the total number of patents to 98.Volparaisa health tech software company., Its integrated breast care platform assists in the delivery of personalised breast care.The. Current patent underlines the enhanced evaluation of numerous quantitative measures fromlowdoseimages.. It allows highly accurateassessment of a womans breast composition at an early age.. It also helps with the calculation of the baseline risk of breast cancer.. Also, the improvements will help optimise medical workflow.Needless to say very important, work being carried out by Volpara, so hats off to the tech company. And now weve got the equity markets coming up, but first itstime for a short break, but stay tuned asIllbe back withmoreupdates for the Australian share market. Welcome back. This isHolly, your host live from Kalkine Studio. And you are watching the show, The Opening Bell., Let us now zoom our lens on the currency market. In the last leg of our show. In the forex marketthe US dollar had climbed. In recent weeks. Market participants are taking stock of the Fed’s, increasingly upbeat assessment of the US economy, which, for some investors, have brought forward the timeframe for its next rate, hike. Thursday’s mixed U.S. data, featuredjobless claims, showing the number of claims in all programs, fell to 13.8millionfrom 14.2 million., It partly reflects the termination of extended benefits in several states, but also the vast number of jobs, available. Meanwhilethe Empire and Philly Fed manufacturing indexes surprised on the upside and downside respectively.. Industrial production underwhelmed with the microchip shortage, hammering vehicle production and causing a 0.

1 per cent drop in manufacturing production.NowFriday features U.S. retail sales and Michigan consumer sentiment and inflation expectations for July. Moving ontheAustralian dollarstruggled to keep up the momentum. Having failed to get any support from another set of upbeat jobs, figures. Thenthe, Canadian dollarfell, 0.77 per cent versus the dollar. Thederiskingand further weakness in oil, as well as mixed views as to whether the latest Chinese data pointsto, a loss of growth momentum. In the cryptocurrency spaceBitcoin, Fell 3.3 per cent, the lowest level since 27 June 2021.. It reached around the lower end of a month. Long consolidation. Dogecoin was down 4.52 per cent, and Ether was down 2.49 per cent. Wellthatsall for nowHollysigning offWe will be bringing moretrendingupdates in our upcoming showsduring. The day.

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ASX, S&P/ASX 200, Stock market, Stock The Last Trade || ASX 200 Ends Lower; What Caused Sell-Off In The Stock Market?