The Early Trades || Did The Prospect Of Tighter Monetary Policy Knock Energy Shares Lower?

• Australian shares slipped on Thursday, as local technology stocks got whacked after a stronger-than-expected U.S. inflation data raised concerns of a tighter monetary policy and set off further selling in growth stocks on Wall Street. 

• on, gold stocks slipped as the precious metal snapped a five-session winning streak after April's jump in U.S. consumer prices buoyed the dollar and Treasury yields. Spot gold index was down by 1% to US$1,817.3 an ounce.

• Australian energy producers such as Santos Limited, Woodside Petroleum Limited and Beach Energy Limited are trading in green zone. 

• The selling accelerated as investors reacted to an unexpected sharp surge in inflation in April 2021 that stoked concerns that the economy may recover too fast from its pandemic-induced bruises. 

• Concerns about rising inflation also raised the question of whether the US Fed will change its stance on keeping the interest rates low as the economy recovers.

•  Pro Medicus subsidiary Visage Imaging has signed a $14 million, 8-year contract with The University of Vermont Health Network Inc (UVM). 

• GrainCorp reported an underlying EBITDA from continuing operations of AU$140 million, up from AU$105 million a year earlier.

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