The Opening Bell || ASX 200 See-Saws; Austal Drops As Regulator Starts Civil Proceedings

• ASX 200 is struggling for direction today following a weak session on Wall Street as market participants await the upcoming key US inflation data.

• Shipbuilder Austal (ASX:ASB) shares dipped lower after ASIC launched legal action concerning the Company’s market disclosures with respect to Austal’s Littoral Combat Ship (LCS) program before July 2016. Industrial player Boral (ASX:BLD) also traded in red after defining its reasons for rejecting Seven’s bid.

• Meanwhile, Woolworths (ASX:WOW) jumped up after the ACCC approved its purchase of a large stake in PFD Food Services.

•  On Wall Street, the S&P 500 fell just 1 point short of its all-time high set in May as technology giants surged along with healthcare stocks.

• The yield on the benchmark 10-year US Treasury notes fell 3.7 basis points to 1.49 per cent , compared to 1.53 per cent on Tuesday. 

• Bitcoin surged sharply by 8.6 per cent on Wednesday, rising back above the US$36,000 mark.

• Australian Energy players such as Woodside Petroleum (ASX:WPL), AGL Energy (ASX:AGL) Beach Resources (ASX:BPT), and Origin Energy (ASX:ORG) are trading in red amid broader oil price dynamics.

• Crude oil prices closed almost unchanged on Wednesday after US inventory data revealed a surge in gasoline inventories due to weak fuel demand. 





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