You are watching ‘The Early Trades’. While, earnings updates, tech rout, commodities superboom , week’s line-up of key economic data releases guided the market scenario, raging virus threat in India continue to cast dark shadows to the key global indexes.
• While ASX 200 slipped at the open, the benchmark index is struggling to recoup the losses on the last trading day of the week.
• IT and healthcare are pulling down the market strings.
• Materials and energy sectors are providing some support to the index.
• While the S&P 500 gained 0.82%, Healthcare was the only S&P 500 sector to close in the red.
• Australian mining companies such as Rio Tinto (ASX:RIO), BHP Group Limited (ASX:BHP), Fortescue Metals Group Limited (ASX:FMG) are all trading in green zone
• Then, Gold prices flared as the weaker US dollar propelled the precious metal, an inflation hedge, above the key US$1,800 an ounce for the first time in the last 10 weeks. The US gold Futures closed 1.8% higher at US$1,815.70 per ounce.
• Brent crude Futures settled 87 cents lower, at US$68.09 a barrel, while the WTI crude Futures fell 92 cents to US$64.71 a barrel.
• The big news of the day is the full-year financial results by Macquarie Group (ASX:MQG) that are expected to guide the market today. The group announced that its net profit for the financial year 2021 stood at AU$3.02 billion, up 10% from the previous year.
• Australia's leading online beauty store Adore Beauty (ASX:ABY) said that it had 687,000 active customers at the end of the third quarter of FY21. In a clarification issued to the ASX, the company said that the numbers are for nine-month period, rather than a 12-month period.